The LIFE Programme serves as the European Union’s financial tool dedicated to environmental and climate action. Since its inception in 1992, it has actively nurtured eco-friendly initiatives and, to this day, has provided financial support for more than 5,500 projects. The program encompasses the participation of both EU member states and associated countries, extending its reach to incorporate new projects. Notably, for the 2021-2027 timeframe, the EU has significantly augmented funding for the LIFE Programme by nearly 60%, allocating a total of €5.4 billion.
In addition to assisting public authorities, NGOs, universities, and institutes, the LIFE Programme plays a crucial role in supporting companies as they introduce their environmentally friendly products, technologies, services, and processes to the market. These close-to-market initiatives focus on launching innovative and demonstrative solutions that provide tangible environmental and/or climate benefits. Examples include advancements in waste management, circular economy practices, resource efficiency, water, and air quality, as well as climate change mitigation. These projects boast a high level of technical and business readiness, indicating that the proposed solutions can be implemented in conditions closely resembling the market (at an industrial or commercial scale) either during the project’s duration or shortly after its completion.
Green funding by the EU is a way of supporting sustainable actions in the pursue of bigger climate goals. As climate change could lower the EU’s GDP by about 7% by the end of the century the European Commission is taking further action to intensify the green integration. The Commission has released an exhaustive impact assessment detailing potential routes to achieve the established objective of attaining climate neutrality in the European Union by 2050. Propelled by this assessment, the Commission advocates for a substantial 90% reduction in net greenhouse gas emissions by 2040 compared to 1990 levels. This recommendation initiates a comprehensive dialogue with all stakeholders, with a subsequent legislative proposal slated for presentation by the forthcoming Commission, post-European elections. The proposal’s alignment with the counsel of the European Scientific Advisory Board on Climate Change (ESABCC) and the EU’s commitments under the Paris Agreement underscores its significance.
Contact details
Niels Jensen – ESG Consultant
Niels.J@esgri.com
+45 4252 3762
Copenhagen, Denmark
Bibliography
European Commission
Available at: https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6983
[Accessed 9 March 2024].
European Commission
Available at: https://ec.europa.eu/commission/presscorner/detail/en/ip_24_949
[Accessed 9 March 2024].
European Commission
Available at: https://ec.europa.eu/commission/presscorner/detail/en/IP_24_588
[Accessed 9 March 2024].