EU boosts ‘just transition fund’, pledging €40 billion to exit fossil fuels

The European Commission has increased five-fold its proposed EU fund to wean carbon-intensive regions off fossil fuels, with fresh cash from a new recovery fund to help Europe’s ailing economies rebound after the new coronavirus pandemic. Countries are already clamouring for a slice of the EU’s just transition fund, with 18 member states preparing to apply for support to wind down coal sectors, retrain workers and help carbon-heavy businesses pivot to greener ...

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