Letter to the heads of political groups in the European Parliament: Keep the Just Transition Fund fossil fuel-free

Financing the transition

We are deeply concerned about the position taken by the European Parliament’s REGI Committee in the negotiations on the Just Transition Fund (JTF), proposing to subsidise new fossil gas investments. The European Commission’s own scenarios for a long term strategy that would see the EU hitting carbon neutrality by 2050 would see demand for fossil gas reduce to 4% in the next 3 decades.

If adopted in Plenary commencing the 14th September 2020, this would mean that the European Parliament would find itself in the unusual position of being the only one of the three co-legislators weakening ambition and integrity of climate action, contrary to its own declaration of November 2019, which underlined the importance for all legislative and budgetary proposals to align with the objective of limiting global warming at 1.5C°, thereby undermining its credibility as a climate leader.

Coalition letter keep the Just Transition Fund fossil fuel-free