Breaking down barriers to climate-finance: the City Finance Lab launches second call for proposals

Competition for the five most innovative financing solutions for climate action in cities will run until the end of October. 

The City Finance Lab (CFL), a joint venture between EIT Climate-KIC and South Pole, with its partners Fonds Mondial pour le Développement des Villes (FMDV), CDP, and Global Infrastructure Basel (GIB), opens its second call for ideas for cutting edge climate finance solutions for cities today.

With hundreds of cities and local governments across the world declaring climate emergencies, the need for innovative climate finance solutions has become ever more pressing. Cities play a key role in reducing global carbon emissions, all while being highly vulnerable to climate risks. Increasing global urbanisation trends add additional pressure as nearly 70% of the world’s population is expected to live in urban centres by 2050. With a mere 15% of climate finance reaching cities through traditional mechanisms, innovative financing solutions are urgently required to address city-level climate finance barriers.

Since its launch last year, the CFL has supported five innovative, replicable and scalable financing solutions that increase investment in climate-resilient, low-carbon and green urban projects for sustainable cities in Europe. In its first year of operation, the CFL already assisted the development of the first-ever Green Participatory Budget that was allocated an initial EUR 5 million in the city of Lisbon. This scaling and replication potential is significant when close to 2700 cities across the world have participatory budgets. Scaling and replication activities play a crucial role in leveraging and attracting additional private sector capital to close the global sustainable urban infrastructure investment gap.

The CFL is now calling on interested cities, city networks, utilities, financial institutions, and any other municipal finance practitioner to

  • submit a 500 word-summary of their innovative solution here
  • register for the official kick-off webinar on 5 September, 2019

The call for proposals runs until 31st October 2019 and finalists will be announced by mid-December 2019. Proponents of selected ideas will receive in-kind support to develop their proposals through technical advisory from city finance experts at leading public, private and philanthropic organisations. Selected proponents will also have the opportunity to showcase their plans to potential partners and investors to promote investments in critical urban climate mitigation, adaptation and resilience projects in European cities.

“Lisbon is strongly committed to its transition towards a sustainable climate-resilient city. Thanks to the valuable support of the advisors of the City Finance Lab, we have significantly advanced on the implementation of the Lisbon Green Participatory Budget, to channel investments into climate mitigation and adaptation projects,” says Paulo Francisco, Head Chief of the Participation Division of the Lisbon City Council. The Mayor of Lisbon announced the allocation of EUR 5 million to the first-ever Green Participatory Budget cycle in 2020.

“The growing conscience of the climate emergency, illustrated by the recent declarations from cities such as Paris and Milan, as well as the increasing carbon emissions in urban centres, puts cities in a central role for driving global action to address climate change. The City Finance Lab is at the forefront of developing, scaling and replicating innovative financing solutions to accelerate the shift of much-needed capital in cities towards low-carbon and climate-resilient initiatives,” emphasises Hans-Peter Egler, Director of Public Affairs, South Pole

“Now more than ever before, cities must be prepared to deal with the risks and impacts of climate change by moving to more sustainable, zero-carbon and resilient pathways. Through the City Finance Lab, we enable the deployment of city finance solutions in such a way that is joined up, scaled up, and adds up to actions and initiatives that keep us well within the 2 ˚C global warming threshold,” says Teodora Virban, Project Manager, City Finance Lab, EIT Climate-KIC.

 
Location
Related Goal
Goal 12: Foster bankable green assets in cities
Articles you may be interested in
In The News
EIT Climate-KIC to work with Google on Impact Challenge

EIT Climate-KIC is delighted to announce that it will...

EIT Climate-KIC to work with Google on Impact Challenge
In Detail
EIT Climate-KIC’s case studies on innovative land use set the stage fo...

EIT Climate-KIC launches ‘Innovations in land use,’ a collection of case studies demonstrating the organisation’s innovation-led, systemic approach that’s poised to help Europe deliver...

EIT Climate-KIC’s case studies on innovative land use set the stage for transforming whole systems
In The News
What role can finance play in the green recovery? EIT Climate-KIC and UNEP Fin...

EIT Climate-KIC, in partnership with the UNEP Finance Initiative,...

What role can finance play in the green recovery? EIT Climate-KIC and UNEP Finance Initiative ask leading thinkers to weigh in
In The News
EIT Climate-KIC supports European green recovery with €4 million for start-u...

EIT Climate-KIC is investing €4 million in nine climate...

EIT Climate-KIC supports European green recovery with €4 million for start-ups affected by COVID-19
Opinion
How public servants can engage unlikely allies to deliver climate policies
Juan Azcarate Deputy director of Energy and Climate Change, Madrid City Council
How public servants can engage unlikely allies to deliver climate policies
In The News
The City Finance Lab calls on urban leaders to help build back better

Organised by sustainability expert South Pole, the competition for...

The City Finance Lab calls on urban leaders to help build back better
In The News
EIT Climate-KIC supported cities – Leuven, Milan, Valencia and Vienna no...

Twelve cities are in the final stage of the...

EIT Climate-KIC supported cities – Leuven, Milan, Valencia and Vienna nominated as European Capital of Innovation 2020
Opinion
Going beyond investments in single-point solutions, an Opinion by Kirsten Dunlop
Kirsten Dunlop CEO, EIT Climate-KIC
Going beyond investments in single-point solutions, an Opinion by Kirsten Dunlop
In The News
The climate emergency demands bold policy innovations – can cities d...

While the challenges of climate change and a global...

The climate emergency demands bold policy innovations – can cities deliver? 
In The News
EIT Climate-KIC joins circular economy side event at UN High Level Political F...

“Bold leaders are needed to drive a collaborative approach...

EIT Climate-KIC joins circular economy side event at UN High Level Political Forum on Sustainable Development
In The News
EIT Climate-KIC and Silesian Metropolis join forces to transform Europe’s la...

EIT Climate-KIC and the Metropolitan Association of Upper Silesia...

EIT Climate-KIC and Silesian Metropolis join forces to transform Europe’s largest coal region in the face of the climate crisis
In The News
Anders Wijkman represents EIT Climate-KIC at the International Society for the...

Speaking online at the inaugural Conference of IS4CE—the International...

Anders Wijkman represents EIT Climate-KIC at the International Society for the Circular Economy Conference
In The News
EIT Climate-KIC receives €8.4 million for innovation projects that stimulate...

Eleven climate innovation projects across Europe tackling COVID-19 related...

EIT Climate-KIC receives €8.4 million for innovation projects that stimulate job creation and support a post COVID-19 green recovery
In The News
CEO Kirsten Dunlop represents EIT Climate-KIC at Climate Policy Forum

On 25 June, EIT Climate-KIC attended the Climate Policy...

CEO Kirsten Dunlop represents EIT Climate-KIC at Climate Policy Forum
In Detail
A net zero future offers significant opportunities for the European economy,...

EIT Climate-KIC’s views on the EU 2030 Climate Target Plan.  The recent announcements from the European Commission on the EU Recovery Plan from the...

A net zero future offers significant opportunities for the European economy, society and citizens
In The News
EIT Climate-KIC supported LOOP-Ports project wins prestigious sustainability a...

The LOOP-Ports project, led by the Fundación Valenciaport  and funded by EIT Climate-KIC,...

EIT Climate-KIC supported LOOP-Ports project wins prestigious sustainability award
In The News
EIT Climate KIC joins roundtable as Republic of Korea moves Green Deal forward

On 24 June, EIT Climate-KIC attended the 7th Green...

EIT Climate KIC joins roundtable as Republic of Korea moves Green Deal forward
In our community
Water scarcity in Southern Europe: Manufacturing expert insights
Water scarcity in Southern Europe: Manufacturing expert insights
Opinion
A scientist’s opinion: Interview with Cliona Howie Del Rio about systems thinking
A scientist’s opinion: Interview with Cliona Howie Del Rio about systems thinking
In Detail
Citizen activation is essential for Europe to meet its climate ambition

EIT Climate-KIC provides ideas for action under the European Climate Pact. The debate on how to achieve ambitious climate targets is often dominated by...

Citizen activation is essential for Europe to meet its climate ambition
In The News
EIT Climate-KIC shines at the GLF Bonn Digital Conference, the year’s la...

EIT Climate-KIC’s Director of Sustainable Land Use and member...

EIT Climate-KIC shines at the GLF Bonn Digital Conference, the year’s largest global digital conference on the environment
In The News
EIT Climate-KIC supported Climeworks raises over €67 million to expand its c...

Climeworks, the world leader in capturing CO2 from air,...

EIT Climate-KIC supported Climeworks raises over €67 million to expand its carbon dioxide removal capacities
In The News
EIT Climate-KIC supported Zeleros raises €7 million for the development of h...

EIT Climate-KIC supported Zeleros Hyperloop has completed a financing...

EIT Climate-KIC supported Zeleros raises €7 million for the development of hyperloop in Europe
In our community
A just transformation for Rugeley, as the power station comes down
A just transformation for Rugeley, as the power station comes down
In Detail
Challenging paradigms as the gateway to innovation: New IIPP report for EIT ...

EIT Climate-KIC partner the UCL Institute for Innovation and Public Purpose (IIPP), which works on changing how public value is imagined, practiced and evaluated...

Challenging paradigms as the gateway to innovation: New IIPP report for EIT Climate-KIC’s Landscapes as Carbon Sinks Deep Demonstration
In our community
Water scarcity in Southern Europe: Raw materials expert insights
Water scarcity in Southern Europe: Raw materials expert insights
In Detail
Challenge-led system mapping: A knowledge management approach

The challenge-led system mapping approach responds to the need to improve the practitioner’s capacity to move towards system change by providing mechanisms by which...

Challenge-led system mapping: A knowledge management approach
In The News
EIT Climate-KIC is restructuring to deliver systems transformation for climate...

EIT Climate-KIC is restructuring to provide “systems transformation as...

EIT Climate-KIC is restructuring to deliver systems transformation for climate change
In our community
Water scarcity in Southern Europe: Food expert insights
Water scarcity in Southern Europe: Food expert insights
In The News
EIT Climate-KIC and partners reassess our values in the ‘new normal’

EIT Climate-KIC, together with Edgeryders, ETH Zurich and IOTA,...

EIT Climate-KIC and partners reassess our values in the ‘new normal’