Financing the EU climate transition. The transition to a climate-friendly economy will require large public and private investmentsEU countries have committed to spending 30% of the EU's long-term budget for 2021-2027 and the Next Generation EU instrument on climate-related projects.

To ensure a fair climate transition, the EU has introduced Just Transition Mechanism, which aims to provide financial and technical support to the regions most affected by the transition to a low-carbon economy. Up to €90 billion is to be mobilised for this purpose.

• Financing the climate transition (background information)
• Climate neutrality: Council approves Just Transition Fund (press release, 7 June 2021)