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November 2018
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Friday, 26 October 2018 11:00

EU allocates €243 million to support climate action

EU allocates €243 million to support climate action

The European Commission has approved an investment package of €243 million from the EU budget for projects under the LIFE programme supporting Europe's transition to a more sustainable and low-carbon future, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Commission.

The EU funding under the LIFE programme for the Environment and Climate Action will mobilise additional investments leading to a total of €430.7 million going towards 142 new projects. With numerous trans-national projects funded, LIFE will have an impact in every EU Member State.

Funds of €196.2 million will go to projects in the field of environment and resource efficiency, nature and biodiversity, and environmental governance and information. This includes major investments in projects that will enable more plastic to be reused. Turning this waste into high-quality raw materials for the car, construction and packaging industries is just one way in which LIFE gives practical support to achieving the goals of the European Commission's European Strategy for Plastics in a Circular Economy.

The LIFE programme is the EU's funding instrument for the environment and climate action. It has been running since 1992 and has co-financed more than 4 600 projects across the EU and in third countries, mobilising nearly €10 billion and contributing over €4.2 billion to the protection of the environment and climate. At any given moment some 1 100 projects are in progress.

More details: http://europa.eu/rapid/press-release_IP-18-6162_en.htm

Person in charge of the newsline: Olga Nagiyeva 

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