A new fund worth €169 million which could help communities most impacted by the ending of commercial peat production “reimagine and transform” their futures has been launced today (Friday, April 28).
The new European Union Just Transition Fund (JTF) will support “economic development” in areas which were hardest hit by the ending of commercial peat extraction and peat-based energy production.
The key aims of the programme, which was launched by Minister for the Environment, Climate and Communications, Eamon Ryan at the Corlea Trackway Visitor Centre in Kenagh, Co Longford today, is to help “support green jobs, energy and agriculture”.
Minister Ryan said: “It is critical that no one is left behind as Ireland navigates towards the net-zero vision set out in our Climate Action Plan.
“While fairness is at the centre of this fund, and the green jobs, green energy and green agriculture that it can support, we also have to ensure that the transition is quick. If it’s not fair it won’t be quick. And if it’s not quick, it won’t be fair.”
Funding for the EU JTF has come from both the EU and the Irish government – up to €84.5 million has been financed by the EU and this in turn has been matched by up to €84.5 million from the government.
Sofia Alves, director at the DG regional and urban policy, European Commission said: “The Just Transition Fund is a key driver of the European Green Deal, which pushes the green transition towards more inclusive and innovative accomplishments.
“We are moving away from peat and other fossil fuels in the midlands because people once dependent on them deserve a reshaped future with new prospects. A total of €169 million will kick-start this process through local initiatives”.
The Eastern and Midland Regional Assembly (EMRA) has been appointed as the managing authority of the new multi million euro fund and has been working with the Department of the Environment, Climate and Communication to develop the programme that will deliver the €169 million fund.
This programme will focus on three strategic priorities for investment including:
- Generating employment by investing in the diversification of the local economy;
- Supporting the restoration and rehabilitation of degraded peatlands and regeneration and repurposing of industrial heritage assets;
- Providing smart and sustainable mobility options to enable local communities to benefit directly from the green transition.
According to cathaoirleach of the eastern and midland regional assembly Cllr. Robert Power the EU fund will be an “essential tool “for the wider midlands areas to realise its “great potential”.
Cllr. Power said:
“This is a pivotal time in our economy. The EU Just Transition Fund is the lever which will help the regions most impacted by climate adaptation to action the generational change needed to become a sustainable, climate-neutral economy by 2050.
“The fund demonstrates just how valuable EU funding is to the implementation of local and regional economic and spatial planning strategies that support an inclusive and sustainable transition for the benefit of local communities.”