FantasticSearch

1. The general objective of the Facility is to address serious social, economic and environmental challenges deriving from the transition towards the Union’s 2030 climate and energy targets and the objective of climate neutrality in the Union by 2050 at the latest, set out in Regulation (EU) 2021/1119, for the benefit of the Union territories identified in the territorial just transition plans.

2. The specific objective of the Facility is to increase public sector investments which address the development needs of the territories identified in the territorial just transition plans, by facilitating the financing of projects that do not generate sufficient streams of revenues to cover their investment costs, in order to prevent the replacement of potential support and investment from alternative resources.

3. In pursuing the specific objective referred to in paragraph 2, this Regulation also aims to ensure that advisory support for the preparation, development and implementation of eligible projects, where necessary, including support for the preparation of projects prior to the submission of the application, is provided. That advisory support shall be provided in accordance with the rules and implementation methods for the InvestEU Advisory Hub established by Article 25 of Regulation (EU) 2021/523 of the European Parliament and of the Council .