The European Parliament has approved a plan for a fund to support people and groups most likely to be affected by the societal transition in the fight against the climate crisis, particularly in the areas of energy and transport. The Social and Climate Fund, to be established in 2026, was approved during the plenary session in Strasbourg this morning, with 521 MEPs voting in favour, 75 against and 43 abstentions. Once fully implemented, the fund is expected to include a total of €86 billion „to ensure that the climate transition is fair and socially inclusive“. „Vulnerable households, micro-enterprises and transport users who are particularly affected by energy and transport poverty will benefit,“ the EU press release said. €65 billion will be financed through auctioning of industrial emission allowances, with the rest coming from national sources. The approval of the fund came as part of a series of votes in parliament on important climate legislation, which is at the heart of the EU's "Fit for 55" plan to reduce the bloc's greenhouse gas emissions by at least 55% by 2030 compared to 1990.