(Finance) – TheItaly will receive one billion euros under the Just Transition Fund (Just Transition Fund) following the approval of its territorial plan for a just transition. The support will contribute to achieving a just climate transition a Taranto (Apulia) It is in the Sulcis Iglesiente (Sardinia) as it will encourage economic diversification and job creation in green sectors, including renewable energy.
The Just Transition Fund is a financial instrument under the EU cohesion policy, which aims to provide support to territories that have to face serious socio-economic challenges resulting from the transition to climate neutrality.
“The Italian program is targeted and specifically designed to support regions grappling with a challenging transformation in the coal and steel industry – commented Elisa Ferreira, Commissioner for Cohesion and Reforms – Sulcis Iglesiente and Taranto will receive ad hoc funding and investments to support workers and the economy and at the same time overcome environmental criticalities”.
Employment support in Taranto
Since in the province of Taranto one third of industrial workers are employed in the iron and steel sector – due to the presence of Acciaierie d’Italia (formerly Ilva) – the Fund will support the retraining of 4,300 workers with a view to their re-use in green jobs related to the clean energy transition and the circular economy.
In addition, the Fund will support: the construction of wind turbines, the development of green hydrogen and the production of geothermal plants for buildings in the province; the creation of service centers that will help SMEs to diversify, as well as hubs and business accelerators for the development of skills, smart specialization and support for the industrial transition; it will contribute to the creation of a green belt around the city of Taranto with urban parks and naturalistic areas.
New economic opportunities in Sulcis Iglesiente
The Fund will invest in Sulcis Iglesiente (Sardinia) – site of the last Italian coal mine – to stimulate economic diversification in the fields of the green economy, agriculture, tourism and the economy of the sea. The support will be aimed in particular at micro-enterprises to introduce process, product, organizational and marketing innovations, while SMEs and start-ups will benefit from research, innovation and technology transfer projects, especially in terms of the circular economy.
The bottom it will help 2,250 workers acquire new skills through training courses and will strengthen support for jobseekers and services dedicated to setting up new businesses.
It will be facilitated creation of renewable energy communities aimed at reducing energy poverty. The Fund will also contribute to reducing and optimizing the energy consumption of SMEs by encouraging the use of clean technologies for the production of wind, solar and marine energy. The contaminated sites will be reclaimed, rehabilitated and destined for new economic activities.