Deadline: 21-Oct-20
The City Finance Lab is launching its 2020 call for proposals to help increase investments in projects that turn pressing urban challenges into low-carbon opportunities.
The City Finance Lab is Europe’s first dedicated platform focused on supporting innovative financing solutions for green urban projects. It is a joint initiative by South Pole and EIT Climate-KIC that aims to drive investment into climate-resilient, low-carbon and green urban projects for sustainable cities. Cities can lead the way in championing a green recovery, and in shaping our societies into ones that are sustainable, resilient, and inclusive. They have the most to gain from channelling finance into urban climate action – and the most to lose for failing to do so. This is why the City Finance Lab is launching its 2020 call for proposals.
As central hubs of culture and commerce, low-carbon innovations in cities have far-reaching benefits – cleaner air, healthy citizens, new jobs, and increased competitiveness. Supported by the right financing solutions, city-level decision-makers can be nimble in taking action and through leading by example, drive national and global agendas on climate mitigation and adaptation.
They can engage quickly and more directly with citizens to undertake climate actions that are rooted in the needs of their communities: In just its first year of operation, the City Finance Lab helped the city of Lisbon implement a Green Participatory Budget solution and incubated a School Climate Participatory Budget where students are directly involved in selecting climate projects. These solutions have the potential to be replicated across nearly 3 000 other cities.
Examples of eligible financing solutions include:
- Adapting existing finance options and mechanisms to sustainable objectives
- Developing innovative sustainable finance and contracting schemes
- Creating cutting-edge climate-related tools for local governments
- Designing dedicated urban funds or trusts aimed at meeting global climate goals
- Replicating successful financing solutions for sustainable initiatives in different economies
Eligibility Criteria
All Europe-based entities are eligible to receive support from the City Finance Lab to develop their innovative financing solution dedicated to cities.
Evaluation Criteria
- Relevant – how will your idea finance climate-relevant solutions in cities?
- Innovative – how will your idea tackle investment barriers yet to be addressed or do so more effectively than existing approaches?
- Transformative – what level of investment could your idea mobilise and does it address issues common to multiple European cities?
- Ambition to become financially sustainable – how will you reduce and possibly phase out any public financial support?
- Feasible – do you already have close links to one or more cities or other potential implementation partners and investors? If not, which partners do you feel could be interested?
For more information, visit https://eit.europa.eu/our-activities/opportunities/eit-climate-kics-city-finance-lab-calls-urban-leaders-help-build-better
