Along with climate change and digitalisation, the Russian invasion forces the European economy to change faster than it would like, putting companies and workers in a vulnerable position. What do they have to consider to ensure that the transition will be just? The EU itself has created the so-called “Just Transition Mechanism”, which consists of a variety of financing instruments to provide grants or credit to companies, workers, and public authorities to help them adapt to climate change. “Before that, politics has to define the goals of the transition and a path towards it,” she added. Geopolitics supercharge the transition and its problemsHow difficult this is can now be seen in the example of the oil refinery in Schwedt in Eastern Germany.

Source: Suddeutsche Zeitung July 29, 2022 10:55 UTC