IMC4T-square

The Problem

Between €0.36 and €1 trillion per annum of incremental investment is needed over the next 15 years to set cities on a low-carbon and resilient development path to meet climate targets and build resilience. The barriers to transition include high transaction costs, uncertainty in national and international frameworks, a lack of resources in making green and sustainable projects attractive to investors and gaps in knowledge about available finance options and mechanisms.

The Solution

Launched by EIT Climate KIC’s Low Carbon City Lab flagship and South Pole, the City Finance Lab is Europe’s first dedicated platform to help develop innovative finance solutions for green urban projects. Such innovative solutions are needed to address the estimated $1.1 trillion funding gap required to ensure that the future urban infrastructure essential to meet growing needs is low-emission and climate resilient.

The City Finance Lab provides technical assistance to the developers, while the project preparation and facility strand is building a pipeline of bankable urban mitigation and adaptation projects, through a network of multi-competence centres that evaluate the finance and technical expertise of urban projects.

The Impact

The City Finance Lab is working to engage cities and municipal finance stakeholders, through tailored support from international climate finance experts, to develop finance that is longer-term, more attuned to emerging risks and more efficient at delivering returns for the economy and wider society. The City Finance Lab is working to leverage $500 million over the next five years in additional finance for climate action in cities.

EIT Climate-KIC’s Role

EIT Climate-KIC has established a collaborative environment for cities, NGOs, public and private investors and solution providers to work together. The City Finance Lab empowers cities in their climate action by enabling them to pilot innovative financial solutions to fulfil their ambitions. EIT Climate-KIC’s community of cities, researchers, corporates and city networks are working hand in hand with investors and donors.

 

EIT Role

EIT Climate-KIC has established a collaborative environment for cities, NGOs, public and private investors and solution providers to work together. The City Finance Lab empowers cities in their climate action by enabling them to pilot innovative financial solutions to fulfil their ambitions. EIT Climate-KIC’s community of cities, researchers, corporates and city networks are working hand in hand with investors and donors.

Success Stories you may be interested in
Success Stories
Vienna’s journey to carbon neutrality

EIT Climate-KIC is working with the city of Vienna...

Vienna’s journey to carbon neutrality
Success Stories
CLIMB Ferrara: Blending tech with community engage...

The CLIMB Ferrara project encourages active home-to-school mobility through...

CLIMB Ferrara: Blending tech with community engagement for active child mobility
Success Stories
Aligning Portfolios with Paris

The Challenge COP25 ended in December 2019 with little...

Aligning Portfolios with Paris
Success Stories
Social innovation living lab in Milan: Merezzate+

The Merezzate+ project demonstrates how urban environments offer the potential...

Social innovation living lab in Milan: Merezzate+
Success Stories
Friendly Fruit: growing more sustainable fruit sup...

Fruit production — like all agricultural practices — must...

Friendly Fruit: growing more sustainable fruit supply chains
Success Stories
geoFootprint: mapping the environmental footprint ...

Agricultural supply chains are critical when it comes to...

geoFootprint: mapping the environmental footprint of agricultural supply chains
Success Stories
Feed-X: Accelerating Innovation to Boost Sustainab...

Food security will be a defining issue in supporting...

Feed-X: Accelerating Innovation to Boost Sustainability in Global Feed Production
Success Stories
WINnERS

As climate change and extreme weather events become more...

WINnERS
Success Stories
E-USE

The E-USE project has designed and created six pilot...

E-USE
Success Stories
Moabit West: Citizen engagement at the core of urb...

Our Smart Sustainable Districts team and our partner community...

Moabit West: Citizen engagement at the core of urban development plan
Success Stories
London Queen Elizabeth Park: Harnessing the power ...

Our Smart Sustainable Districts team and our partner community...

London Queen Elizabeth Park: Harnessing the power of an integrated single data platform to pursue sustainability projects
Success Stories
2nd SKIN: Systemic deep retrofit for social housin...

Refurbishment is a necessary step to reach the ambitious...

2nd SKIN: Systemic deep retrofit for social housing
Success Stories
Sofia Urban Challenge: finding agile solutions to ...

With EIT Climate-KIC’s support, the Bulgarian capital Sofia has...

Sofia Urban Challenge: finding agile solutions to air quality
Success Stories
Smart Sustainable Offices

The Smart Sustainable Office project has developed a suite...

Smart Sustainable Offices
Success Stories
Municipal E-Bus Planner 2 (Munep2)

Munep2 has developed innovative planning software that helps transport...

Municipal E-Bus Planner 2 (Munep2)
Success Stories
Moabit West, Berlin

Ambitious sustainability goals characterise the urban development plan of...

Moabit West, Berlin
Success Stories
Matchmaker

Matchmaker links private investors with suitable urban sustainability initiatives,...

Matchmaker
Success Stories
Low Carbon City Lab (LoCaL)

Low Carbon City Lab is a global innovation hub...

Low Carbon City Lab (LoCaL)
Success Stories
Facade Leasing

Facade Leasing is a pilot project that aims to...

Facade Leasing
Success Stories
Total Recycle Decommissioning (TRD)

Plans to build the EU’s first recycling facility for...

Total Recycle Decommissioning (TRD)
Success Stories
Place’In

Place’In, a web-based tool for planning and costing circular...

Place’In
Success Stories
Microalgae Biorefinery 2.0

EIT Climate-KIC Demonstrator project Microalgae Biorefinery 2.0 is an...

Microalgae Biorefinery 2.0