The European Commission has approved an investment package of more than €280 million (£249m) for environment, nature and climate action projects.

It will support more than 120 new projects under the LIFE programme, which has a budget of €3.4 billion (£3bn) for the current funding period from 2014 to 2020.

Around €220 million (£195m) of funding has been allocated to projects on environment and resource efficiency, nature and biodiversity and environmental governance and information and more than €60 million (£53m) will support climate change mitigation and adaptation.

The funding is expected to trigger total investments of nearly €590 million (£524m).

The Commission’s latest investment package represents a 37% increase compared to last year and supports the European Green Deal objectives, helping Europe become climate-neutral by 2050.

Frans Timmermans, Executive Vice President for the European Green Deal said: “The European Green Deal is our roadmap to a green, inclusive, and resilient Europe.

“LIFE projects epitomise these values as they bring together Member States for the protection of our environment, the restoration of nature and support of biodiversity. I’m looking forward to the results of these new projects.”