Eur 1.5 million EU investment appointed for eco-friendly innovation

EUR 1.5 million EU investment was allocated to Lithuanian companies to implement non-technological eco-innovations under the ‘Eco-Innovation LT’ instrument. The instrument aims to encourage companies to adopt environmentally friendly solutions and sustainable business practices.

According to Jekaterina Rojaka, Vice-Minister of Economy and Innovation, the exclusivity of this call for proposals is the new eco-labelling activity, which is included in the list of activities funded according to business needs. Such labelling is not obligatory; it is a free choice of manufacturers, importers or sellers. Eco-labels help identify goods that meet certain environmental standards.

According to Aurimas Pautienius-Želvys, Director of Lithuanian Business Support Agency, integration of sustainable development principles (economic, environmental, and public) into innovation or the prospect of green business development requires changes in companies, and therefore the need for innovation through projects linking the economy to the environment is increasing. Eco-innovations and solutions to reduce negative environmental impacts through non-technological innovation (management systems, eco-design of products, eco-labelling of products) play an important role moving towards a green economy.

‘The principles of sustainable development are increasingly beneficial for innovation, responsible management of projects, and longer life-cycle of business products. This has been a global trend for over 10-15 years. Undertakings need to keep pace with increasingly conscious consumers as their needs change dramatically. For consumers, a responsible attitude to the environment and human health is more important than ever, so it has become a necessity to implement new management solutions and develop organic products,’ says Aurimas Pautienius-Želvys.

The ‘Eco-Innovation LT’ instrument envisages allocating investment for implementation of environmental management standards and carrying out technological audits of production, as well as for eco-design and eco-labelling. These activities will encourage companies to use resources rationally and to prevent pollution, integrate environmental concerns into product design, and allow companies to make it easier for consumers to access quality organic products.

Applicants may be micro, small and medium-sized enterprises. The largest possible amount of project funding for implementation of environmental management systems and preparation of production technology audits is EUR 20 000 and EUR 30 000 for eco-design or eco-labelling activities. The implementation of several eligible activities may increase the size of investments.  

The deadline for submission of applications is 19 February 2020. Applications shall be submitted via the information system DMS.

The EU investment instrument ‘Eco-Innovation LT’ has already provided 45 Lithuanian companies with the opportunity to implement non-technological eco-innovations during the 2014-2020 financing period. The total value of EU investment allocated for project implementation is more than EUR 2.1 million.  

We invite you to take the opportunity to invest in eco-friendly innovations! More information about the EU investment instrument ‘Eco-Innovations LT’ can be found here.

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