Brussels, 31/05/2013 (Agence Europe) - Investment 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, stated EU Environment Commissioner Janez Potocnik in Brussels on Tuesday 31 May, delighted with the good performance of small businesses that have received EU funding under an eco-innovation programme. The programme outcomes are examined in a report on the impact of the eco-innovation side of the EU's competitiveness and innovation programme (CIP).
The end results of the eco-innovation programme launched in 2008 show that the investment of EU eco-innovation funds shows a 20-fold return, mainly from small businesses and that each of the 126 projects co-financed led to eight new jobs being created, demonstrating the utility of public money. The report, Analysing and reporting the results achieved by the CIP eco-innovation market replication projects, shows that the co-financed projects have led to environmental benefits in terms of reduction in the use of water (by some170 million cubic metres), a sharp fall in greenhouse gas emissions (by 11.6 million tonnes) and a reduction in waste of some 609,000 tonnes.
Potoènik 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 126 projects received a total of €86.3 million in funding, which covered the initial start-up investment. Most of them were transnational (70% involving more than one partner) and almost all of them were run by small companies, with only 9 by a big company or consortium.
More than 240 projects funded by the eco-innovation scheme are already underway. The European Commission has launched a new call to select a further 45 eco-innovation projects with novel environmental solutions which will benefit from an investment budget of €31.5 million. The CIP, funded by the framework-programme for competitiveness and innovation, has a budget of some €200 million for 2008-2013.
The report was commissioned by the Executive Agency for Competitiveness and Innovation (EACI) on behalf of DG Environment at the European Commission. (AN/transl.fl)