ADAPTING THE MANAGEMENT OF THE JIU VALLEY COMPANIES FOR THE TRANSITION TO A SUSTAINABLE, CLIMATE-NEUTRAL ECONOMY

Purpose –The study aim is to find employment solutions for young and able-bodied workers from unemployment of many families in Jiu Valley, left without a job and failing to benefit from local opportunities, and also for parents that must left their children in care the community or other families and choose the path of migration outside the Jiu Valley or even the country. Methodology/approach - The Jiu Valley is distinguished as one of the most suffering regions in Romania based on the problems stemming from the negative impact of layoffs following the closure mines since 1995, which generated high unemployment, the dislocation of young people and adults, poverty and exclusion. The research methodology was based on an analyses of the past 30 years management of the mining industry, and finding a recovery plan for this region. Findings –The global economic context but also the inadequate management of the mining exploitation for the last 30 years in the Jiu Valley, led to a tragic situation, and the only solution for the recovery of the Jiu Valley may be the use of non-refundable funds in developing viable economic alternatives for the maintaining of the economic activity. Research limitations/implications –Even if the proposed solution are developed in the technologies from the field of energy from renewable sources, the solutions may be generalized in production of rechargeable batteries or the production of hydrogen and hydrogen-based synthetic fuels. Practical implications - The population of the area is heavily affected by the decline of the mining industry and exposed to severe risks on the social dimension due to low economic development which does not allow the attraction of investors and determines the lack of a positive evolution at all the important levels that contribute to the quality of life, especially education, medical services and social assistance. The study represent a basis for fixing these structural problems of this former mining region. Originality/value – The purpose of this research is to find the best method for adapting the management of the Jiu Valley companies for the transition to a sustainable, climate-neutral economy, but also to propose a solution to stop the population decline and to continue the economic activity in the Jiu Valley.