In the EU Biodiversity Strategy for 2030, the EU and its Member States committed to implement more than 100 actions by 2030. This tool is designed to track that progress.
SUMMARY
ENABLING TRANSFORMATIVE CHANGE
Financing for biodiversity
Updated on: 2023-04-19
Deadline: 2022
Summary: This pledge is implemented through the development of financial and advisory products for natural capital under InvestEU, building upon the lessons learned from the EU Natural Capital Financing Facility. It covers biodiversity as well as circular economy. An additional technical assistance/advisory component is provided by LIFE (up to 50 million €) to support this action, alongside with an active dialogue with EIB, EIF and other National Promotional Banks. In particular, within this budget commitment, the Green Advisory Service for Sustainable Investments Support (Green Assist) is a new advisory initiative under InvestEU delivered by CINEA under DG ENV coordination. It aims to build a pipeline for green investment projects that have a high impact and greening more traditional investments. Out of the 50 million available, up to 30 are earmarked for Green Assist, whilst up to 20 will finance the “LIFE top-up” to the Sustainable Infrastructure Advisory, practically-speaking financing EIB advisory initiatives supporting green projects.
Links:
- LIFE Natural Capital Financing Facility implemented by EIB
- Green Advisory Service for Sustainable Investments Support: GREEN ASSIST
Main Actors:
COM
CINEA
EIB
Chef de File:
ECFIN
ENV
Updated on: 2023-04-19
Deadline: 2022
Summary: The implementation of this action will operationalise the 'do no harm' principle under the Multiannual Financial Framework and NextGeneration EU. Biodiversity was addressed in the Commission checklist developed in the context of the evaluation of the national Recovery and Resilience Plans (Annex I of the RRF technical guidance) and followed also for the Cohesion policy programmes, as well as in the sustainability proofing guidelines developed in the context of InvestEU. Biodiversity will be integrated in upcoming work on operationalizing the ‘do no harm’ principle across other EU funds and programmes. As part of its ongoing work on environmentally harmful subsidies, the European Commission published in 2022 a study proposing a toolbox and a methodology for reforming environmentally harmful subsidies in Europe. This toolbox investigates the range of environmentally harmful subsidies and those that could be reduced or eliminated relatively easily, generating significant environmental and net fiscal benefits. A ‘Do No Significant Harm’ flagship is also offered in 2022 to Member States under the 2023 Technical Support Instrument (TSI). The Flagship aims at building Member States’ capacity to design and implement an environmental framework in the field of public financial management. It can support the development and piloting of national guidelines for the application of the DNSH principle, the integration of the DNSH principle into national public financial management processes, good practice exchanges and peer-learning.
Links:
- RRF technical guidance
- Sustainability proofing guidelines
- Phasing out Environmentally Harmful Subsidies
- 2023 Flagship Technical Support Project - Technical Support Instrument – Do No Significant Harm
Main Actors:
COM
MS
Chef de File:
AGRI
BUDG
ECFIN
ENV
INTPA
MARE
REGIO