Finance
EU to invest €222 mln. on environment, climate action
- Out of investment package, EU will invest €40.2 million for climate change projects

The European Commission (EC) has approved a €222 million investment package from the EU budget to support Europe's transition to more sustainable and low-carbon future under the LIFE program for the Environment and Climate Action, the EC announced on Thursday.

The EU funding will mobilize additional investments contributing to a total of €379 million towards 139 new projects in 20 member states, the Commission noted.

Nearly €181.9 million will go to projects for the environment and resource efficiency, nature and biodiversity, and environmental governance and information.

In the area of climate action, the EU will invest €40.2 million to support climate change adaptation, mitigation and governance and information projects.

"Selected projects support the EU's target to reduce greenhouse gas emissions by at least 40 percent by 2030 compared to 1990 levels," the statement read.

- LIFE program

The LIFE program is the EU's funding instrument for the environment and climate action. It has been running since 1992 and has co-financed more than 4,500 projects across the EU and in third countries. The program has mobilized over €9 billion and has contributed over €4 billion to the protection of the environment and climate.

Through the funding, 1,100 projects are active. The budget for the LIFE Program for 2014–2020 is set at €3.4 billion based on current prices. The program and has a sub-program for the environment and one also for climate action.

By Ebru Sengul

Anadolu Agency

energy@aa.com.tr

 

 

28 Sep,2017
FINANCE NEWS