Eco-innovation investments produce gains | New Europe

European Commissioner for Environment, Janez Potocnik | EPA/ADAM WARZAWA

According to an Eco-innovation report, green investments in SMEs produce above average returns and contribute in job creation.

On 31 May, the European Commission (EC) announced that according to the report, ?Analysing and reporting the results achieved by the CIP Eco-Innovation market replication projects,? green investments to SMEs proved to generate above average returns. ?

Some projects examples are: (i) the optimisation of technology to re-use old bricks; (ii) the production of leather shoes that are free from harmful chemicals; (iii) the usage of CO2 to harness a natural source of Omega-3; ?(iv) and the introduction of a new technology for carpet manufacturing. ?

European Commissioner for the Environment Janez Poto?nik?commented. ?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 major sectors: (i) material recycling; (ii) water; (iii) sustainable building products; (iv) green business; (v) and the food and drink sector. However, pure energy efficiency investments are not covered by the EC. According to the Press Release, more than 240 projects are being funded by the eco-innovation scheme being already underway. The green projects have been developed primarily by small businesses which were unable to find early stage funding for their innovative concepts.

Still, ?31 million remain available for green projects. The deadline will close on 5 September 2013. ?Although priority will be given to SMEs and private beneficiaries priority, the calls for proposals are open to all legal persons located in one of the following countries: 27 Member States, Norway, Iceland, Liechtenstein, Albania, Croatia, former Yugoslav Republic of Macedonia, Israel, Montenegro, Serbia and Turkey.

Source: http://www.neurope.eu/article/eco-innovation-investments-produce-gains

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