Sweden will receive €155.7 million in EU grants from the Just Transition Fund (JTF) to support the country’s efforts to achieve climate neutrality by 2045 and alleviate the impact of the climate transition. Sweden will mobilise a total investment of €311.5 million to help make sure that this transition will not leave anyone behind in the local economy and society.
Sweden’s aim to be climate neutral five years ahead of the EU target is truly commendable. The faster they transition to climate neutrality, the better they can mitigate the impacts of the climate crisis. The support from the JTF agreed to this plan will help Sweden meet its targets in an inclusive and fair way.
The JTF support will help Swedish industry transition to climate neutrality, while maintaining competitiveness and sustaining economic and employment levels in the counties of Norrbotten, Västerbotten and Gotland. As industrial emissions account for 32% of Sweden’s total greenhouse gas emissions, the transformation of the steel, mineral and metals industry, main greenhouse emitters, will have an important socio-economic impact. The JTF will help alleviate this impact by investing in research and innovation and in the retraining and reskilling of workers.
Because of the scale of the decarbonisation challenge, the JTF will also support targeted investments to reduce greenhouse gas emissions in activities covered by the Emissions Trading System, such as steel and cement production. These investments are essential to maintain jobs in these sectors and will ensure that the emissions will be significantly reduced, in line with the requirements of the JTF Regulation.
Source: European Commission
