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EU Commission approves funding worth €380 million to finance 168 new European environmental and climate action projects.

Vedanshi SinghbyVedanshi Singh
24th November 2022
in ESG BROADCAST
Reading Time: 5 mins read
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EU Commission approves funding worth €380 million to finance 168 new European environmental and climate action projects.
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EU Commission has approved significant funding worth more than €380 million for 168 new European environmental and climate action projects under the LIFE Programme.

LIFE Programme is the EU’s funding mechanism for the environment and climate action at the core of the European Green Deal. It has been functioning since 1992 and has co-financed over 5,500 projects.

The funding will mobilise a total investment of over €562 million, a 27% increase on last year’s budget.

This funding will benefit projects from nearly all EU Countries in four themes (sub-programmes):

  • Nature and biodiversity
  • Circular economy and quality of life
  • Climate change mitigation and adaptation
  • The clean energy transition

New projects under this €380 million funding 

Nature and biodiversity

  • 27 nature and biodiversity projects will help to protect Europe’s biodiversity and support the implementation of the Birds and Habitats Directives, the EU Biodiversity Strategy for 2030 and the proposed Nature Restoration Law. They have a budget of just under €195 million, of which the EU will cover around €127 million.
  • 38 environment and resource efficiency projects will help to restore the environment and develop technologies to support the Circular Economy Action Plan. They will mobilise €144 million, of which the EU will provide €86 million.
  • 7 environmental governance projects will raise awareness of environmental issues such as biodiversity loss and air pollution. They will give public authorities the tools to promote, monitor and enforce compliance with EU environmental legislation. These projects have a budget of more than €10 million, of which the EU will contribute over €6 million.

Climate action

  • In total, 30 LIFE projects worth about €114 million will contribute to the implementation of the EU’s Climate Law and Adaptation to Climate Change Strategy by encouraging the shift towards a climate-neutral, energy-efficient, renewable energy-based and resilient economy. 11 climate change mitigation projects will help reduce greenhouse gas emissions through sustainable management of land, forests and sea; innovative clean energy solutions; and replacement and reuse of fluorinated greenhouse gases. They will mobilise approximately €50 million, of which the EU will provide around €30 million.
  • 13 climate change adaptation projects will help cities and regions adapt to climate change; support climate adaptation solutions in agriculture, forests and water management; enhance the resilience of infrastructures and buildings; and support viable nature-based solutions in cities and landscapes. They will mobilise €52 million, with over €30 million coming from EU funds.
  • 6 LIFE climate governance and information projects will improve climate governance and inform the public and stakeholders about climate change. Their total budget is roughly €12 million, of which the EU contributes more than €7 million. 

Clean energy

  • 67 projects will be devoted to improving market and regulatory conditions in the EU for the clean energy transition, notably promoting and rolling out energy efficiency and small-scale renewable energy solutions. They have a total budget of over €100 million, from which the EU provides around €96 million. These projects support the renewables and energy efficiency policies in the REPowerEU plan and the Fit for 55 package, as well as the overarching Energy Union objectives.

Source: EU Commission Press Release

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Tags: ESGEUEU CommissionEuropeFinancials SectorSustainability
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Vedanshi Singh

Vedanshi Singh

Science communicator passionate about climate change, ESG, and sustainability, blending psychology with communication for impact.

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