The Role of Just Transition Fund in Shaping Sustainable Development of EU Regions

Abstract:

Decarbonization, as one of the basic directions of sustainable development, has become a fact and is being enforced through various regulatory and economic incentives. Assuming the development of the energy sector should be sustainable, and therefore, on the one hand, harmless to the environment, and, on the other hand, enabling scientific and economic progress. A factor that may facilitate this is the provision of financial resources for the transformation of the current energy sector into a future low-emission energy – neutral for the environment. The energy transformation involving the decommissioning of obsolete coal-fired units and simultaneous investments in renewable energy sources will be associated with the involvement of huge financial resources for the large enterprises sector. Due to decarbonization, the structure of electricity production is permanently changing. The Just Transition Mechanism supports the pursuit of sustainable development, but it seems insufficient in the light of the challenges posed.

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