potocnik ejc 31mayInvestment in SMEs working in the area of environmentally innovative technologies is producing above average returns, creating valuable jobs and also alleviating environmental impacts, according to a new report.

The performance of young SMEs funded over the past two years under the eco-innovation component of the EU’s competitiveness and innovation programme (CIP) has been analysed and shows impressive results. The investment of EU eco-innovation funds shows a 20 fold return - every euro invested has resulted in 20 euros for its beneficiaries. Furthermore each project supported has generated an additional 8 permanent full-time jobs.

European Commissioner for the Environment Janez Potočnik said:"The new study demonstrates that good business, job creation and environmental protection can go together and generate widespread benefits. “This suggests that Europe has a strong niche in the green business, a niche which can promote competitive, resource-efficient and sustainable growth.

The EU's Eco-innovation funding focuses on five main sectors: material recycling; water; sustainable building products; green business; the food and drink sector (pure energy efficiency investments are not covered).

 More than 240 projects funded by the eco-innovation scheme are already underway. The projects have been developed primarily by small businesses with innovative concepts needing early stage capital to realise their growth potential.

The eco-innovation projects which have received funding cover a wide range of sectors and activities from omega 3 fatty acid production from algae, to pollution-free leather production.

An analysis of the performance of the EU funded projects also reveal substantial 'green' benefits in the areas of water saving (170 million m3), equivalent to the annual water consumption of an EU city of 350 000 people. The reduced greenhouse gas emissions (11.6 mt when including CO2 emissions reduced by energy savings), equal those from the annual electricity use of 1.7m EU homes, and the 609 000 tonnes of reduced waste make up for the annual waste generation of an EU city of 125.000 people.

Converted into cash terms, the value of these environmental savings is put at more than EUR 800 million in 5 years.

 

In May the European Commission launched a new call to select a further 45 eco-innovation projects with novel environmental solutions who will benefit from an investment budget of EUR 31.5 million.

NEWS ROLL

Anthem for Europe?

Is it time for a new Anthem for Europe? Something more fitting for 2016 than 1957?…

Bringing communities together

  Written by Griffiths and Company, the latest edition of the PANORAMA magazine of regional polic…

Brussels Press Club launched

  Brussels finally has a Press Club for international correspondents, just like New York, Londo…

CSR policy for the EU?

  The EU is developing a new policy on Corporate Social Responsibility.…

Eco Innovation and SMEs

Investment in SMEs working in the area of environmentally innovative technologies is producing above…

EU update

Bringing communities together

cover from en panorama 45 130328b web 2 2

 

Written by Griffiths and Company, the latest edition of the PANORAMA magazine of regional policy department of the Commission has a fascinating story how EU funds have been wisely and effectively used to rebuild the shattered communities of Northern Ireland.

Read more ...

EU invests for growth through the regions

cover mag48 enThe EU's regional policy now accounts for one third of the EU budget - EUR 350 billion - and has been re-focused as a major investment tool to revitalise the economies of Europe's regions and get them creating jobs and growing new businesses. 

Interview with Delors


DelorsNigel Griffiths has an exclusive interview with Jacques Delors, former President of the European Commission.

 

Read more here

 

 
 

Energy efficiency in buildings supports climate targets

img 001031 00Improving the energy efficiency of buildings in Europe is the best way of meeting Europe's energy reduction targets and reducing the threat of climate change, stresses the Buildings Performance Institute Europe (BPIE).

Read more ...

Anthem for Europe?

spiritsofeuropeIs it time for a new Anthem for Europe? Something more fitting for 2016 than 1957?

Read more ...

| |

Copyright © 2016. All Rights Reserved.