The European Commission said it was backing an effort to take the global lead in environmental and climate action with a call for increased financing. “The European Union is a global leader for environmental protection and climate action,” European Commissioner for Environment Karmenu Vella said in a statement. “Where we spend our money should reflect this.” The so-called LIFE program covers a broad range of issues, from biodiversity to climate change mitigation. Funding is targeted at $2.2 billion between 2021-27. The commission proposed an increase of nearly 60 percent for the program. The European Bank for Reconstruction and Development has invested more than $4.5 billion directly on renewable energy, backing the development of 6.5 gigawatts of renewable energy capacity in more than 20 countries. […]