LIFE is the acronym for L’Instrument Financier pour l’Environnement. Therefore the focus of the programme is environment (and not life sciences).
The general objective of LIFE is to contribute to the implementation, updating and development of EU environmental and climate policy and legislation by co-financing projects with an European added value.
LIFE usually aims at demonstration and pilot projects. No research.
The LIFE programme started in 1992 and is managed by the European Commission, DG Environment and DG Climate Action. However, the Commission has delegated the implementation of many components of the LIFE programme to the Executive Agency for Small and Medium-sized Enterprises (EASME). EASME also implements many parts of the Horizon 2020 SC5 work programme. The European Investment Bank manages the two new financial instruments (NCFF and PF4EE). Under the Natural Capital Financing Facility (NCFF), the European Investment Bank (EIB) will provide loans and investments in funds to support projects which promote the preservation of natural capital, including adaptation to climate change, in the Member States. The main aim of the NCFF is to demonstrate that natural capital projects can generate revenues or save costs, whilst delivering on biodiversity and climate adaptation objectives. The Private Finance for Energy Efficiency (PF4EE) aims to increase private financing for investments in energy efficiency enhancing projects. Its objective is therefore to support Member States in making progress in view of the EU’s agreed targets on energy efficiency.