Financing Ambitious Local Climate Objectives
Implementing ambitious local climate action plans is paramount in the fight against climate change. While sheer aggregated investment volume contained in these plans can contribute meaningfully to the economy, the lack of a comprehensive funding solution undermines their realisation.
FALCO addresses this problem by developing a financing solution for the climate plans of over 180 Flemish Covenant of Mayors signatories. This so-called FLC Solution was tested at the conceptual level and builds on the results of several previous projects while integrating state of the art knowledge on sustainable energy financing. Unlike other solutions, the FLC solution considers local climate action plans in their entirety instead of adopting a more typical project-per-project view. It places a focus on lifting both financial and non-financial investment barriers and makes use of private capital instead in combination with public budgets. In addition to acting as a scalable pilot to test the FLC solution in the field, FALCO will also develop accompanying policy and other measures to increase demand for investments.
The project includes an information session and a workshop for European municipalities as well as regions. The events will focus on financing solutions including success factors and possible pitfalls. Together with Flemish financial experts, the relevance and replication potential can be examined specifically for the situation of individual municipalities.
Project funding period: June 2017 – May 2021
Horizon 2020 (EU)
Want to learn more? Contact Masha Tarle at m.tarle(at)climatealliance.org.