European Council gives green light to LIFE budget of more than €5.4 billion

The Life Budget

We know that the EU’s strategy is going down a green path. And with the first quarter of the year coming to an end, the machine is starting to get into gear. On Tuesday 16 March, the European Council approved a budget of €5.432 billion for LIFE, the EU’s green programme par excellence, for the period 2021-2027, as part of the Multiannual Financial Framework.

This is the last step before the final and formal approval of the agreement in the European Parliament so that the Regulation can enter into force. The budget is the result of a previous agreement reached between the Commission and the European Parliament in December 2020.

The LIFE budget for this period represents a considerable increase compared to the previous period where €3.4 billion was allocated. The current budget also reflects the agreement saying that at least 30% of the overall amount of the Multiannual Financial Framework and the Next Generation EU recovery instrument must be dedicated to the environment.

LIFE was created in 1992

LIFE is the European Union’s financial instrument dedicated exclusively to the environment. Some of the objectives of the programme for the period 2021-2027 and which are clearly linked to current political priorities are nature and biodiversity, circular economy, climate change… In addition, from this year, LIFE will also finance actions related to energy efficiency and renewable energies. In total, LIFE has financed more than 5000 projects since it started.

Source: European Commission