Just Transition Fund: year one projects
The Just Transition Fund (JTF) is a £500 million ten-year commitment that will support projects in the North East and Moray which contribute towards the region’s transition to net zero.
Overview
In 2021 the shared policy programme between the Scottish Government and Scottish Green Party established a 10-year £500 million Just Transition Fund for the North East and Moray.
The Fund was announced in recognition of the particular need to transition the regional economy away from carbon-intensive industries and to capitalise on the opportunities, including jobs and prosperity, that the transition to net zero will bring.
In 2022 to 2023 (year 1) over £50 million from the Fund was awarded to 24 projects spread across the North East and Moray. They will be delivering their projects over multiple years, with the final project due to conclude in tear 4 of the Fund (2025 to 2026). In 2023 to 2024 (year 2) a further £25 million was allocated to the Scottish National Investment Bank to be invested in the region on a commercial basis, in line with the Bank’s Investment Strategy and its Missions including to support a Just Transition to net zero.
This brings the Fund’s total commitment to the region since 2022 to £75 million.
Further information on year 3 will become available in early 2024.
Read: Scottish Government and Scottish Green Party - Shared Policy Programme
Contact
Email: JustTransitionFund@gov.scot
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