JTF and the Northern Ostrobothnia Just Transition Plan
In addition to the ERDF and ESF+, a new Just Transition Fund (JTF) will be introduced for the 2021-2027 programming period of the EU's regional and structural policy. The JTF has its own policy A Renewable and Skilled Finland 2021-2027 Programmessa.
In Finland, JTF funding is targeted at socio-economic challenges and regional economic impacts arising from the reduction of the energy use of peat.
North Ostrobothnia is one of the most important peat regions in Finland. In Northern Ostrobothnia, the industry employed around 470 htv in 2020. With the price of emission allowances remaining at a high level, the consumption and production of energy peat in Northern Ostrobothnia is estimated to end almost completely by 2025, and completely by 2030.
JTF-funded measures are not limited to peatlands. It is essential that the benefits of the measures are directed to the area affected by the direct or indirect disadvantages of the peat sector. The diversification measures mainly target sectors outside the peat sector.
In accordance with the Government's policy, EUR 119.4 million will be allocated to Northern Ostrobothnia. € JTF funding. The Fund is 33.5 % the regional and structural policy of the province. Funding is provided by the Regional Council of Northern Ostrobothnia and the Centre for Economic Development, Transport and the Environment of Northern Ostrobothnia. The total JTF+State funding for Finland amounts to EUR 644 million. €.
JTF funding will be used in the province in accordance with the Just Transition Plan for Northern Ostrobothnia. The implementation of the JTF will start in April 2023.
