The European Commission and the European Investment Bank (EIB) have launched a new financing instrument – the Natural Capital Financing Facility (NCFF) – for projects promoting the preservation of Natural Capital, including adaptation to Climate Change.
In December 2014, the EU Commission and the EIB have signed an agreement entrusting the EIB with the management of the NCFF, that will be developed by blending EIB funding with EC financing funded by the LIFE budget.
The NCFF will provide innovative financial solutions to support bankable projects, which have the potential to be revenue-generating or cost-saving, promoting the conservation, restoration, management and enhancement of natural capital for Biodiversity & Ecosystem Services (BES) and climate adaptation benefits, including ecosystem-based solutions to challenges related to land, soil, forestry, agriculture, water and waste.
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The European Commission proposed a New General Union Environment Action Program (7th EAP) in November 2012 to guide the EU Environment Policy up to 2020.
Entitled “Living Well, Within the Limits of Our Planet“, the proposal sets out a clear vision of where Europe should be in the long term; in particular, it aims to enhance Europe’s ecological resilience and transform the European Union into an inclusive and sustainable green economy.
The EAP has the three-fold aim of achieving an inclusive green economy, whilst protecting the natural capital and the health of European citizens.
Specifically, protecting natural capital, encouraging more resource efficiency and accelerating the transition to the low-carbon economy are key features of the Program, which also seeks to tackle environmental causes of disease.
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