€3.45bn boost for environment projects

European authorities have given the green light for €3.45 billion to be spent on environment projects in the next phase of the LIFE programme

Launched in 1992, LIFE is the EU’s key funding instrument to support environment initiatives and provides cash for pilot and demonstration projects for technologies aimed at halting biodiversity loss, for example.

The next phase of the scheme, which runs from 2014 to 2020, places greater emphasis on funding projects for climate change mitigation and adaptation, and resource efficiency.

EU commissioner Connie Hedegaard said the new programme would triple the amount being spent on climate action. Under the commission’s plans, €864 million will be dedicated to climate change and €2.6 billion to the environment.

Meanwhile, the European Investment Bank has adopted new lending guidelines that will prevent it financing the most polluting fossil-fuel power plants. Coal- or gas-powered stations applying for funds from the bank must now produce less than 550g of carbon dioxide per kWh of electricity.