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Transformative Mindset Course

Module 9.

Pursuing green finance and investment and ensuring a just transition

Author:

Evangelia Michalaki

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Institution:

Kokkalis Foundation

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Objectives of the training module include:

  • To introduce key features and gain understanding on Financing the European Green Deal via the Sustainable Europe Investment Plan: 

    • Next Generation EU

    • Next Generation EU green bonds

    • Sustainable finance

    • Green transition reform support

    • Recovery and Resilience Facility

To introduce key features and gain understanding on Just Transition Mechanism and Just Transition Fund

Content of the Module:

  • Sustainable Europe Investment Plan: 

    • Next Generation EU

    • Next Generation EU green bonds

    • Sustainable finance

    • Green transition reform support

    • Recovery and Resilience Facility

  • Just Transition Mechanism and Just Transition Fund

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  • Teaching methods: lectures, case study, quiz, self-study of additional materials

  • Duration: 2.5 hours

Glossary

Sustainable finance. The process of considering environmental, social and governance aspects during investment's decision-making in the financial sector. 

Next Generation EU. EU’s temporary instrument developed and designed to support the recovery and the immediate economic and social damage caused by the coronavirus pandemic.

Recovery and Resilience Facility. EU’s temporary instrument, part of Next Generation EU, for providing grants and loans to support reforms and investments in the EU Member States.

Just Transition Mechanism. EU’s instrument tool to ensure that the transition towards a climate-neutral economy happens in a fair way, leaving no one behind. 

Using Mesh Bag

Teaching

Material

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Case Study 1:

Supporting clean energy investments in Greece

In the framework of the “Green transition reform support” and considering Greece’s limited experience in developing comprehensive long-term energy and climate strategies, EC and the German development agency, GIZ, is supporting Greece over 2 years through the provision of experts at the Ministry of Environment and Energy to:

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  • improve the governance and the foundation of long-term energy and climate planning process 

  • raise awareness and provide trainings on integrating clean and smart energy in the environment

  • develop support schemes for clean energy in transport

  • analyse investment needs and innovative financing instruments for clean energy technologies

Just Transition Programme of Greece for 2021-2027

In the framework of the Just Transition Mechanism and Greece’s commitment to withdraw lignite plants by the year 2028 in a coordinated and responsible manner, where jobs will be secured and the high know-how of human resources in these areas will be efficiently utilized.

A “Fair Transition and Development Plan” for the lignite areas of Western Macedonia and the Municipality of Megalopolis has been prepared since November 2020. The Plan is based on five pillars of development , supported by the improvement of infrastructure and the alternative use of the lands currently occupied by lignite mines. The five pillars are: 

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  1. Green energy, 

  2. “Smart" agriculture, 

  3. Sustainable tourism, 

  4. Handicrafts and industry and 

  5. Digital economy and education.

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It also includes enhanced tax incentives to attract investment, specific land uses for the tens of thousands of acres of lignite mines being released, actions to develop alternative agriculture, industry and services, and detailed investment timetables. 

In October 2021, the 1st official version of the Greek Fair Transition and Development Program 2021-2027 to the European Commission was submitted , focusing on the territories of Western Macedonia, Megalopolis and the North-South Aegean and Crete Islands. 

The main actions included are :

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 1) Promoting the employment of the unemployed and the self-employed and the  adaptability of employees and companies.

 2) Addressing social impacts and strengthening social cohesion.

 3) Preparation of economic and productive diversification (including the primary sector).

 4) Enhancing entrepreneurship and attracting investments.

 5) Restructuring of the energy identity and rationalization of the utilization and use of environmental resources.

 6) Promotion of urban revitalization and Sustainable Urban Mobility.

Additional materials & sources of information

Teacher and Blackboard
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