Life-Profile aims at improving the financial security provisions for Annex III activities of the Environmental Liability Directive (ELD – 2004/35/EC) through the implementation of environmental risk assessment. Based on this assessment, more effective financial security instruments will be developed for detection, prevention and remediation of environmental damage. LIFE-PROFILE has several key objectives:
1. Strengthen the prevention of environmental damage, the polluter pays principle & ELD implementation & improve remediation of land, water & natural habitats & protected species from environmental damages timely & effectively.
2. Develop, adopt & implement a national plan providing guidelines & practices for a more effective ELD application, focusing on risk assessment & financial security.
3. Develop & test tailored risk assessment methodologies for identifying & quantifying risk assessment scenarios for ELD Annex III activities that may cause environmental damage, especially focusing on biodiversity.
4. Assist operators to fulfill their obligations deriving from ELD, through the gradual application of user-friendly financial security schemes, so as to upgrade their environmental performance & promote their export capabilities within the green procurement framework.
5. Provide scientific basis, through the risk assessment to be conducted in order to assist actual implementation gradually, document realistic ceilings for the financial guarantees and facilitate the creation of financial security market which shall provide coverage at reasonable costs.
PI: Prof. Athanasios Rentizelas
