New LIFE programme funding will unlock more than € 3.2 billion of additional support to 12 large-scale environmental and climate projects in ten Member States to support Europe’s transition to a low-carbon, circular economy.
“The successful transition towards a low-carbon economy, as defined by the Paris Climate Agreement, is projected to result in a 1.1% growth in GDP, and a 0.5% growth in employment, in the EU between now and 2030. This is compared to a ‘business as usual’ baseline forecast. Globally, China is also projected to benefit from a low-carbon transition, but the United States would experience a 3.4% drop in GDP, and a 1.6% decline in employment.”
In 2017, emissions of three main greenhouse gases generated by economic activities of EU resident units stood at 4.4 billion tonnes of CO2 equivalents which is 14 % lower than 2008.