Thanks to the adoption of the Territorial Just Transition Plan for Malta, €23 million in EU grants from the Just Transition Fund (JTF) will be allocated to the island to support its fair transition to climate neutrality, in particular in the maritime sector.
Executive Vice-President for the European Green Deal, Frans Timmermans, said: “Greening the transport and maritime sector is one the biggest challenges for Malta’s transition to a climate-neutral future. The Just Transition Fund will therefore provide specific support to these sectors, reducing emissions from Malta’s main ports while also creating new economic opportunities for citizens on the island.”
Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “The maritime transport sector in Malta employs over 12,700 people, equivalent to 6% of total employment, and is a vital element of the Maltese economy. However, it also produces a significant part of Malta’s greenhouse gas emissions. The JTF will help the sector to move away from fossil fuels and, consequently, Malta’s transformation into a low-carbon and climate resilient country while retaining jobs.”
EU funds will focus on the decarbonisation of mainland Malta’s international ports (the Grand Harbour and Malta Freeport), and on electric power supply to ships on shore. The JTF supports the territories that face specific challenges in the transition towards a climate-neutral economy. Territorial Just Transition Plans (TJTPs), developed in close consultation with local partners, identify the concerned territories. They also set out the challenges for each territory, and the development needs and objectives to be met. The TJTPs, when approved by the Commission, open the door to dedicated financing under the other two pillars of the Just Transition Mechanism (JTM): a just transition scheme under InvestEU and a Public Sector Loan Facility for Just Transition that combines Commission grants with European Investment Bank loans. The JTM is a key tool to ensure that the transition towards a climate-neutral economy happens in a fair way. It provides targeted support to help mobilise around €55 billion over the period 2021-2027 in the most affected regions.
- Publication date
- 25 October 2022
- Representation in Malta