(1)

The regulatory framework governing the Union’s cohesion policy for the period from 2021 to 2027, in the context of the next multi-annual financial framework, contributes to the fulfilment of the Union’s commitments to implement the Paris Agreement and the United Nations Sustainable Development Goals by concentrating Union funding on green objectives. This Regulation implements one of the priorities set out in the Communication on the European Green Deal (‘the European Green Deal’) (11) and is part of the Sustainable Europe Investment Plan (12) providing dedicated financing under the Just Transition Mechanism in the context of cohesion policy to address the economic and social costs of the transition to a climate-neutral and circular economy, where any remaining greenhouse gas emissions are compensated by equivalent absorptions.

(1)

The regulatory framework governing the Union’s cohesion policy for the period from 2021 to 2027, in the context of the next multi-annual financial framework, contributes to the fulfilment of the Union’s commitments to implement the Paris Agreement , limiting global temperature increase to below 1,5  oC, the United Nations Sustainable Development Goals and the European Pillar of Social Rights by concentrating Union funding on green objectives. This Regulation implements one of the priorities set out in the Communication on the European Green Deal (‘the European Green Deal’) (11) and is part of the Sustainable Europe Investment Plan (12) providing dedicated financing under the Just Transition Mechanism in the context of cohesion policy to address the economic, social and environmental costs of the transition to a climate-neutral and circular economy, where any remaining greenhouse gas emissions are compensated by equivalent absorptions , taking into account the impact of the COVID-19 pandemic .

(2)

The transition to a climate-neutral and circular economy constitutes one of the most important policy objectives for the Union. On 12 December 2019, the European Council endorsed the objective of achieving a climate-neutral Union by 2050, in line with the objectives of the Paris Agreement. While fighting climate change and environmental degradation will benefit all in the long term and provides opportunities and challenges for all in the medium term, not all regions and Member States start their transition from the same point or have the same capacity to respond. Some are more advanced than others, whereas the transition entails a wider social and economic impact for those regions that rely heavily on fossil fuels — especially coal, lignite, peat and oil shale — or greenhouse gas intensive industries. Such a situation not only creates the risk of a variable speed transition in the Union as regards climate action, but also of growing disparities between regions, detrimental to the objectives of social, economic and territorial cohesion.

(2)

The transition to a climate-neutral and circular economy constitutes one of the most important policy objectives for the Union. On 12 December 2019, the European Council endorsed the objective of achieving a climate-neutral Union by 2050, in line with the objectives of the Paris Agreement. While fighting climate change and environmental degradation will benefit all in the long term and provides opportunities and challenges for all in the medium term, not all regions and Member States start their transition from the same point or have the same capacity to respond. Some are more advanced than others, whereas the transition entails a wider social, economic and environmental impact for those regions that rely heavily on fossil fuels — especially coal, lignite, peat for energy use and oil shale- or greenhouse gas intensive industries. Such a situation not only creates the risk of a variable speed transition in the Union as regards climate action, but also of growing disparities between regions, especially for outermost regions, remote, insular and geographically disadvantaged areas, and for areas with depopulation problems, detrimental to the objectives of social, economic and territorial cohesion.

(3)

In order to be successful, the transition has to be fair and socially acceptable for all. Therefore, both the Union and the Member States must take into account its economic and social implications from the outset, and deploy all possible instruments to mitigate adverse consequences. The Union budget has an important role in that regard.

(3)

In order to be successful, the transition has to be fair , inclusive and socially acceptable for all. Therefore, the Union, the Member States and their regions must take into account its economic, social and environmental implications from the outset, and deploy all possible instruments to mitigate adverse consequences. The Union budget has an important role in that regard to ensure that no one is left behind .

(4)

As set out in the European Green Deal and the Sustainable Europe Investment Plan, a Just Transition Mechanism should complement the other actions under the next multi-annual financial framework for the period from 2021 to 2027. It should contribute to addressing the social and economic consequences of transitioning towards Union climate neutrality by bringing together the Union budget’s spending on climate and social objectives at regional level.

(4)

As set out in the European Green Deal and the Sustainable Europe Investment Plan, a Just Transition Mechanism should complement the other actions under the next multi-annual financial framework for the period from 2021 to 2027. It should contribute to addressing the social, economic and environmental consequences , in particular for workers affected in the process of transitioning towards Union climate neutrality by 2050 by bringing together the Union budget’s spending on climate and social objectives at regional level , promoting a sustainable economy, green jobs and public health .

(5)

This Regulation establishes the Just Transition Fund (‘JTF’) which is one of the pillars of the Just Transition Mechanism implemented under cohesion policy. The aim of the JTF is to mitigate the adverse effects of the climate transition by supporting the most affected territories and workers concerned. In line with the JTF specific objective, actions supported by the JTF should directly contribute to alleviate the impact of the transition by financing the diversification and modernisation of the local economy and by mitigating the negative repercussions on employment. This is reflected in the JTF specific objective, which is established at the same level and listed together with the policy objectives set out in Article [4] of Regulation EU [new CPR].

(5)

This Regulation establishes the Just Transition Fund (‘JTF’) which is one of the pillars of the Just Transition Mechanism implemented under cohesion policy. The aim of the JTF is to mitigate and compensate the adverse effects of the climate transition by supporting the most affected territories and workers concerned and to promote a balanced socio-economic transition that fights social precarity and an unstable business environment . In line with the JTF specific objective, actions supported by the JTF should directly contribute to alleviate the impact of the transition by financing the diversification and modernisation of the local economy by regenerating natural assets and by mitigating the negative repercussions on employment and on standards of living . This is reflected in the JTF specific objective, which is established at the same level and listed together with the policy objectives set out in Article[4] of Regulation EU [new CPR].

(6)

In view of the importance of tackling climate change in line with the Union’s commitments to implement the Paris Agreement, the commitment regarding the United Nations Sustainable Development Goals and the increased ambition of the Union as proposed in the European Green Deal, the JTF should provide a key contribution to mainstream climate actions. Resources from the JTF own envelope are additional and come on top of the investments needed to achieve the overall target of 25 % of the Union budget expenditure contributing to climate objectives. Resources transferred from the ERDF and ESF+ will contribute fully to the achievement of this target.

(6)

In view of the importance of tackling climate change in line with the Union’s commitments to implement the Paris Agreement, the commitment regarding the United Nations Sustainable Development Goals and the increased ambition of the Union as proposed in the European Green Deal, the JTF should provide a key contribution to mainstream climate and environmental actions. Resources from the JTF own envelope are additional and come on top of the investments needed to achieve the overall target of 30 % of the Union budget expenditure contributing to climate objectives. Resources transferred on a voluntary basis from the ERDF and ESF+ could contribute fully to the achievement of this target.

(7)

The resources from the JTF should complement the resources available under cohesion policy.

(7)

The resources from the JTF should complement the resources available under cohesion policy. The establishment of the JTF should not lead to cuts to, or compulsory transfers from, the other cohesion funds.

(8)

Transitioning to a climate-neutral economy is a challenge for all Member States. It will be particularly demanding for those Member States that rely heavily on fossil fuels or greenhouse gas intensive industrial activities which need to be phased out or which need to adapt due to the transition towards climate neutrality and that lack the financial means to do so. The JTF should therefore cover all Member States, but the distribution of its financial means should reflect the capacity of Member States to finance the necessary investments to cope with the transition towards climate neutrality.

(8)

Transitioning to a climate-neutral economy is a challenge for all Member States. It will be particularly demanding for those Member States that rely , or which until recently have relied, heavily on fossil fuels or greenhouse gas intensive industrial activities which need to be phased out or which need to adapt due to the transition towards climate neutrality and that lack the financial means to do so. The JTF should therefore cover all Member States, but the distribution of its financial means should focus on those territories most affected, and reflect the capacity of Member States to finance the necessary investments to cope with the transition towards climate neutrality , with particular attention to least developed regions, outermost regions, mountainous, islands, sparsely populated, rural, remote and geographically disadvantaged areas whose small population make the transition in energy towards climate neutrality more difficult to implement, and taking into account the starting position of each Member State .

(9)

In order to set out an appropriate financial framework for the JTF, the Commission should set out the annual breakdown of available allocations per Member State under the Investment for jobs and growth goal, based on objective criteria.

(9)

In order to set out an appropriate financial framework for the JTF, the Commission should set out the annual breakdown of available allocations per Member State under the Investment for jobs and growth goal, based on objective criteria. Member States should ensure that municipalities and cities have direct access to the JTF resources to be made available to them according to their objective needs.

(10)

This Regulation identifies types of investments for which expenditure may be supported by the JTF. All supported activities should be pursued in full respect of the climate and environmental priorities of the Union. The list of investments should include those that support local economies and are sustainable in the long-term, taking into account all the objectives of the Green Deal. The projects financed should contribute to a transition to a climate-neutral and circular economy. For declining sectors, such as energy production based on coal, lignite, peat and oil shale or extraction activities for these solid fossil fuels, support should be linked to the phasing out of the activity and the corresponding reduction in the employment level. As regards transforming sectors with high greenhouse gas emission levels, support should promote new activities through the deployment of new technologies, new processes or products, leading to significant emission reduction, in line with the EU 2030 climate objectives and EU climate neutrality by 2050 (13) while maintaining and enhancing employment and avoiding environmental degradation. Particular attention should also be given to activities enhancing innovation and research in advanced and sustainable technologies, as well as in the fields of digitalisation and connectivity, provided that such measures help mitigate the negative side effects of a transition towards, and contribute to, a climate-neutral and circular economy.

(10)

This Regulation identifies types of investments for which expenditure may be supported by the JTF. All supported activities should be pursued in full respect of the climate, environmental and social commitments and priorities of the Union. The list of investments should include those that support people, communities and local economies and are sustainable in the long-term, taking into account all the objectives of the European Green Deal and the European Pillar of Social Rights . The projects financed should contribute to a  gradual and full transition to a  sustainable, climate-neutral , pollution-free and circular economy. For declining sectors, such as energy production based on coal, lignite, peat and oil shale or extraction activities for these solid fossil fuels, support should be linked to the phasing out of the activity and the corresponding reduction in the employment level. As regards transforming sectors with high greenhouse gas emission levels, support should promote new activities through the deployment of new technologies, new processes or products, leading to significant emission reduction, in line with the EU 2030 climate objectives and EU climate neutrality by 2050 (13) while maintaining and enhancing skilled employment and avoiding environmental degradation. Particular attention should also be given to activities enhancing innovation and research in advanced and sustainable technologies, as well as in the fields of digitalisation, connectivity and smart and sustainable mobility , provided that such measures help mitigate the negative side effects of a transition towards, and contribute to, a climate-neutral and circular economy , taking into account the economic, social and energy characteristics of each Member State . The importance of culture, education and community building for the transition process should also be met by supporting activities that address the mining heritage.

(11)

To protect citizens who are most vulnerable to the climate transition, the JTF should also cover the up-skilling and reskilling of the affected workers, with the aim of helping them to adapt to new employment opportunities, as well as providing job-search assistance to jobseekers and their active inclusion into the labour market.

(11)

To protect citizens who are most vulnerable to the climate transition, the JTF should also cover the up-skilling, reskilling and training of the affected workers and jobseekers, particularly women , with the aim of helping them to adapt to new employment opportunities and gain new qualifications suitable for the green economy , as well as providing job-search assistance to jobseekers and their active inclusion into the labour market. The promotion of social cohesion should be a guiding principle for providing support under the JTF.

(12)

In order to enhance the economic diversification of territories impacted by the transition, the JTF should provide support to productive investment in SMEs. Productive investment should be understood as investment in fixed capital or immaterial assets of enterprises in view of producing goods and services thereby contributing to gross-capital formation and employment. For enterprises other than SMEs, productive investments should only be supported if they are necessary for mitigating job losses resulting from the transition, by creating or protecting a significant number of jobs and they do not lead to or result from relocation. Investments in existing industrial facilities, including those covered by the Union Emissions Trading System, should be allowed if they contribute to the transition to a climate-neutral economy by 2050 and go substantially below the relevant benchmarks established for free allocation under Directive 2003/87/EC of the European Parliament and of the Council (14) and if they result in the protection of a significant number of jobs. Any such investment should be justified accordingly in the relevant territorial just transition plan. In order to protect the integrity of the internal market and cohesion policy, support to undertakings should comply with Union State aid rules as set out in Articles 107 and 108 TFEU and, in particular, support to productive investments by enterprises other than SMEs should be limited to enterprises located in areas designated as assisted areas for the purposes of points (a) and (c) of Article 107(3) TFEU .

(12)

In order to enhance the economic diversification of territories impacted by the transition, the JTF should provide support to productive investment in SMEs. Productive investment should be understood as investment in fixed capital or immaterial assets of enterprises in view of producing goods and services thereby contributing to gross-capital formation and employment. For enterprises other than SMEs, productive investments should only be supported if they are necessary for mitigating job losses resulting from the transition, by creating or protecting a significant number of jobs and they do not lead to or result from relocation. Investments in existing industrial facilities, including those covered by the Union Emissions Trading System, should be allowed if they contribute to the transition to a climate-neutral economy by 2050 and go substantially below the relevant benchmarks established for free allocation under Directive 2003/87/EC of the European Parliament and of the Council (14) and if they result in the creation and maintenance of a significant number of jobs. Any such investment should be justified accordingly in the relevant territorial just transition plan , be sustainable and, where applicable, be consistent with the polluter pays principle and the energy efficiency first principle . In order to protect the integrity of the internal market and cohesion policy, support to undertakings should comply with Union State aid rules as set out in Articles 107 and 108 TFEU.

(12a)

Support for productive investment in enterprises, other than SMEs, through the JTF should be limited to less developed and transition regions as set out in Article 102(2) of Regulation No …/… [CPR].

(13)

In order to provide flexibility for the programming of the JTF resources under the Investment for jobs and growth goal, it should be possible to prepare a self-standing JTF programme or to programme JTF resources in one or more dedicated priorities within a programme supported by the European Regional Development Fund (‘ERDF’), the European Social Fund Plus (‘ESF+’) or the Cohesion Fund. In accordance with Article 21a of Regulation (EU) [new CPR], JTF resources should be reinforced with complementary funding from the ERDF and the ESF+. The respective amounts transferred from the ERDF and the ESF+ should be consistent with the type of operations set out in the territorial just transition plans.

(13)

In order to provide flexibility for the programming of the JTF resources under the Investment for jobs and growth goal, it should be possible to prepare a self-standing JTF programme or to programme JTF resources in one or more dedicated priorities within a programme supported by the European Regional Development Fund (‘ERDF’), the European Social Fund Plus (‘ESF+’) or the Cohesion Fund. In accordance with Article 21a of Regulation (EU) [new CPR], JTF resources could be reinforced on a voluntary basis with complementary funding from the ERDF and the ESF+. The respective amounts transferred from the ERDF and the ESF+ should be consistent with the type of operations set out in the territorial just transition plans.

(14)

The JTF support should be conditional on the effective implementation of a transition process in a specific territory in order to achieve a climate-neutral economy. In that regard, Member States should prepare, in cooperation with the relevant stakeholders and supported by the Commission, territorial just transition plans, detailing the transition process, consistently with their National Energy and Climate Plans. To this end, the Commission should set up a Just Transition Platform, which would build on the existing platform for coal regions in transition to enable bilateral and multilateral exchanges of experience on lessons learnt and best practices across all affected sectors.

(14)

The JTF support should be conditional on the effective and measurable implementation of a transition process in a specific territory in order to achieve a climate-neutral economy. In that regard, Member States should prepare, in social dialogue and cooperation with the relevant stakeholders in accordance with the partnership principle established by Article 6 of Regulation (EU) …/… [new CPR], and supported by the Commission, territorial just transition plans, detailing the transition process, consistently with , and possibly going further than, their National Energy and Climate Plans. To this end, the Commission should set up a Just Transition Platform, which would build on the existing platform for coal regions in transition to enable bilateral and multilateral exchanges of experience on lessons learnt and best practices across all affected sectors.

(15)

The territorial just transition plans should identify the territories most negatively affected, where JTF support should be concentrated and describe specific actions to be undertaken to reach a climate-neutral economy, notably as regards the conversion or closure of facilities involving fossil fuel production or other greenhouse gas intensive activities. Those territories should be precisely defined and correspond to NUTS level 3 regions or should be parts thereof. The plans should detail the challenges and needs of those territories and identify the type of operations needed in a manner that ensures the coherent development of climate-resilient economic activities that are also consistent with the transition to climate-neutrality and the objectives of the Green Deal. Only investments in accordance with the transition plans should receive financial support from the JTF. The territorial just transition plans should be part of the programmes (supported by the ERDF, the ESF+, the Cohesion Fund or the JTF, as the case may be) which are approved by the Commission.

(15)

The territorial just transition plans should identify the territories most negatively affected, where JTF support should be concentrated and describe specific actions to be undertaken to reach the Union climate targets for 2030 and a climate-neutral economy by 2050 , notably as regards the conversion or closure of facilities involving fossil fuel production or other greenhouse gas intensive activities , whilst maintaining and expanding employment opportunities in the affected territories in order to avoid social exclusion. Aggravating factors such as unemployment rates and depopulation trends should be taken into consideration . Those territories should be precisely defined and correspond to NUTS level 3 regions or should be parts thereof. The plans should detail the challenges, needs and opportunities of those territories and identify the type of operations needed in a manner that ensures the coherent development of climate-resilient economic activities that are also consistent with the transition to climate-neutrality and the objectives of the European Green Deal. Only investments in accordance with the transition plans should receive financial support from the JTF. The territorial just transition plans should be part of the programmes (supported by the ERDF, the ESF+, the Cohesion Fund or the JTF, as the case may be) which are approved by the Commission.

(19)

The objectives of this Regulation, namely to support territories facing economic and social transformation in their transition to a climate-neutral economy, cannot be sufficiently achieved by the Member States alone. The main reasons in this regard are, on the one hand, the disparities between the levels of development of the various territories and the backwardness of the least favoured territories, as well as the limit on the financial resources of the Member States and territories and, on the other hand, the need for a coherent implementation framework covering several Union funds under shared management. Since those objectives can better be achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 TEU. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives,

(19)

The objectives of this Regulation, namely to support the people, economy and environment of territories facing economic and social transformation in their transition to a climate-neutral economy, cannot be sufficiently achieved by the Member States alone. The main reasons in this regard are, on the one hand, the disparities between the levels of development of the various territories and the backwardness of the least favoured territories, as well as the limit on the financial resources of the Member States and territories and, on the other hand, the need for a coherent implementation framework covering several Union funds under shared management and ensuring compliance with high social and environmental standards and the promotion of worker participation . Since those objectives can better be achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 TEU. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives,

(a)

productive investments in SMEs, including start-ups, leading to economic diversification and reconversion;

(a)

productive and sustainable investments in microenterprises and SMEs, including start-ups and sustainable tourism , leading to job creation, modernisation, economic diversification and reconversion;

(b)

investments in the creation of new firms, including through business incubators and consulting services;

(b)

investments in the creation of new firms and the development of those existing , including through business incubators and consulting services , leading to job creation ;

(ba)

investments in social infrastructures, leading to job creation and economic diversification;

(c)

investments in research and innovation activities and fostering the transfer of advanced technologies;

(c)

investments in research and innovation activities , including in universities and public research institutions, and fostering the transfer of advanced and market-ready technologies;

(d)

investments in the deployment of technology and infrastructures for affordable clean energy, in greenhouse gas emission reduction, energy efficiency and renewable energy;

(d)

investments in the deployment of technology and infrastructures for affordable clean energy and its systems , in greenhouse gas emission reduction, energy efficiency , energy storage technologies and sustainable renewable energy , where it leads to job creation and maintenance of sustainable employment at a considerable scale ;

(da)

investments in smart and sustainable mobility and environmentally-friendly transport infrastructure;

(db)

investments in projects fighting energy poverty, particularly in social housing, and promoting energy efficiency, a climate neutral approach and low-emission district heating in most affected regions;

(e)

investments in digitalisation and digital connectivity;

(e)

investments in digitalisation , digital innovation and digital connectivity , including digital and precision farming ;

(f)

investments in regeneration and decontamination of sites, land restoration and repurposing projects;

(f)

investments in green infrastructure as well as regeneration and decontamination of sites, brown fields and repurposing projects , when the ‘polluter pays’ principle cannot be applied ;

(g)

investments in enhancing the circular economy , including through waste prevention, reduction, resource efficiency, reuse, repair and recycling;

(g)

investments in enhancing the circular economy through waste prevention, reduction, resource efficiency, reuse, repair and recycling;

(ga)

creation and development of social and public services of general interest;

(gb)

investments in culture, education and community building, including the valorisation of tangible and intangible mining heritage and community hubs;

(h)

upskilling and reskilling of workers;

(h)

upskilling, reskilling and training of workers and jobseekers ;

(i)

job-search assistance to jobseekers;

(i)

job-search assistance to jobseekers , active aging support and income support for workers in transition between jobs ;

(j)

active inclusion of jobseekers;

(j)

active inclusion of jobseekers , particularly women, disabled persons and vulnerable groups ;

(c)

undertakings in difficulty, as defined in Article 2(18) of Commission Regulation (EU) No 651/2014 (16);

(c)

undertakings in difficulty, as defined in Article 2(18) of Commission Regulation (EU) No 651/2014 (16) , except in cases where the difficulties derive from the energy transition process or where the difficulties began after 15 February 2020 and derive from the COVID-19 crisis ;

(d)

investment related to the production, processing, distribution, storage or combustion of fossil fuels;

(d)

investment related to the production, processing , transport , distribution, storage or combustion of fossil fuels;

(e)

investment in broadband infrastructure in areas in which there are at least two broadband networks of equivalent category.

(e)

investment in broadband infrastructure in areas where equivalent solutions are provided by the market in competitive conditions to customers;

(ea)

investment in enterprises other than SMEs, involving the transfer of jobs and production processes from one Member State to another or to a third country;

(eb)

operations in a NUTS 2 region where an opening of a new coal, lignite or oil shale mine or of a peat extraction field or a reopening of a temporarily decommissioned coal, lignite or oil shale mine or of a peat extraction field is scheduled during the duration of the programme.

(a)

are used as a bridging technology replacing coal, lignite, peat, or oil shale;

(b)

fall within the limits of sustainable availability or are compatible with the use of clean hydrogen, biogas and biomethane;

(c)

contribute to the Union’s environmental objectives on climate change mitigation and adaptation, through accelerating the full phase-out of coal, lignite, peat or oil shale;

(d)

deliver significant reductions in greenhouse gas emissions and air pollution and increase energy efficiency;

(e)

contribute to tackling energy poverty;

(f)

do not hamper the development of renewable energy sources in the territories concerned and are compatible and in synergy with a subsequent use of renewable energy sources.

(a)

a description of the transition process at national level towards a climate-neutral economy, including a timeline for key transition steps which are consistent with the latest version of the National Energy and Climate Plan (‘NECP’);

(a)

a description of the transition process at national level towards the achievement of the Union 2030 climate targets and a climate-neutral economy by 2050 , including a timeline for key transition steps which are consistent with the latest version of the National Energy and Climate Plan (‘NECP’);

(b)

a justification for identifying the territories as most negatively affected by the transition process referred to in point (a) and to be supported by the JTF, in accordance with paragraph 1;

(b)

a justification for identifying the territories as most negatively affected by the transition process referred to in point (a) and to be supported by the JTF, in accordance with paragraph 1 , including indicators such as the unemployment rate and the depopulation rate ;

(c)

an assessment of the transition challenges faced by the most negatively affected territories, including the social, economic, and environmental impact of the transition to a climate-neutral economy, identifying the potential number of affected jobs and job losses, the development needs and objectives, to be reached by 2030 linked to the transformation or closure of greenhouse gas-intensive activities in those territories;

(c)

an impact assessment of the transition challenges faced by the most negatively affected territories, including the social, economic, and environmental impact of the transition to a climate-neutral economy, identifying the potential number of affected jobs and job losses, the potential impact on government revenues, the development needs and objectives, linked to the transformation or closure of greenhouse gas-intensive activities in those territories , and the challenges regarding energy poverty ;

(d)

a description of the expected contribution of the JTF support to addressing the social, economic and environmental impacts of the transition to a climate-neutral economy;

(d)

a description of the expected contribution of the JTF support to addressing the social, demographic, economic , health and environmental impacts of the transition to a climate-neutral economy;

(e)

an assessment of its consistency with other national, regional or territorial strategies and plans;

(e)

an assessment of its consistency with other national, regional or territorial strategies and plans , where relevant ;

(h)

where support is provided to productive investments to enterprises other than SMEs, an exhaustive list of such operations and enterprises and a justification of the necessity of such support through a gap analysis demonstrating that the expected job losses would exceed the expected number of jobs created in the absence of the investment;

(h)

where support is provided to productive investments to enterprises other than SMEs, an indicative list of such operations and enterprises and a justification of the necessity of such support through a gap analysis demonstrating that the expected job losses would exceed the expected number of jobs created in the absence of the investment;