Debate: Sustainable investment plan, just transition fund and Roadmap on Social Europe
Date: TUESDAY, 14 JANUARY 2020
Speaker: Frans Timmermans
Language: EN

Now, only four weeks later, we are here again with a financial package to back that goal – a European Green Deal investment plan for all the opportunities that the green transition offers and a Just Transition Mechanism, which is our pledge of solidarity and fairness for those who face the deepest challenge to make this journey with us.  Valdis will talk about the European Green Deal investment plan. But let me start with the Just Transition Mechanism. What we’re doing here is sending a message to coal miners in Asturias, western Macedonia or Silesia, to peat harvesters in the Irish midlands, Baltic regions reliant on oil shale and many more. We know that you face a steeper path towards climate neutrality and we know that the prospect of a different future – a cleaner one – might be a welcoming prospect in general, but the road to it looks daunting today.  This Just Transition Mechanism, of at least EUR 100 billion, is a pledge that the European Union stands with you in this transition. We propose three pillars to do this: first EUR 7.5 billion of fresh European money on top of what the Commission proposed for the future EU budget in our Just Transition Fund. This will generate EUR 30 to 50 billion of investment – money that can be used for workers to learn new skills for jobs of the future, support for businesses to bring new employment opportunities, investments in clean energy and repurposing of industrial facilities to prepare the ground for new activities.  Second, we will offer dedicated access to Europe’s investment programme, InvestEU, especially for the Just Transition. This will mobilise private funds for a total up to EUR 45 billion to help regions bring new sustainable businesses to replace the polluting ones and put new skills to use. Wherever industries want to contribute to climate neutrality, we will help with investments to move to new technologies and preserve jobs. And thirdly, special loans from the EIB (the European Investment Bank), backed by the EU budget, for local authorities’ regions and public agencies to fund green projects – to help people insulate their homes, for instance. Affordable loans will even help bring modern heating services to the most vulnerable families who rely on coal or wood to keep themselves warm in winter.  We know that the most affected regions are searching for good ideas and need extra help with projects, so we will deliver project support and bring all regional experiences together in our Just Transition platform.  Today’s proposal is very urgent. This Parliament knows it as it is the  We invite Member States to identify the regions that need the money and our practical support and to work with the Commission on a concrete plan for change. This will be a collective effort involving regions, local governments, social partners, industries and civil society. Everyone must be involved. This change will be locally owned so that our citizens can support it.  We know that these EUR 100 billion are a start. Fairness goes far beyond this mechanism alone. Climate change will touch the social foundations of our society. Renewable energy, green jobs, clean air to breathe and fresh water to drink. These are the wealth items of tomorrow.  Everyone, especially the most vulnerable, should reap benefits from this change. Fairness will inspire all our proposals under the Green Deal. We want cars that are clean and affordable, help for people to insulate their homes and green jobs with the minimum wage for a decent living. We want to cut the unacceptable 400 000 premature deaths from the poisonous fumes in our cities and regions. We have the skills, brains and technology to deliver our Green Deal. Today, we renew our pledge to do that with our heart and leave no one behind.