On the 12th of October 2023, during the European Week of Regions and Cities, PROSPECT+ and the Covenant of Mayors are hosting a unique interactive session “Access to finance for the local energy transition: how to move away from subsidies?”. Join us to dive into the challenges and solutions of financing the local energy transition.

Mobilising local authorities and private finance

The magnitude of the climate challenge is undeniable. Local authorities can't afford to delay transformation any longer, especially as the energy crisis highlighted the crucial role of public authorities in the energy transition. Becoming climate neutral by 2050 at the latest will require tremendous investments in cities to be rolled out in a short period of time. This requires mobilising private finance, and supporting cities with technical assistance and capacity building.

This interactive session offers a platform to:

• Uncover success factors and barriers from public authorities across Europe and learn from three case studies.
• Highlight cities' suggestions for simplifying access to innovative financing instruments.
• Engage in a practical discussion about securing private financing for energy transformation and hear investors’ perspective.

Session insights

This 90-minute participatory lab, moderated by Eugenia Mansutti (Covenant of Mayors and Eurocities), is a joint initiative of PROSPECT+ and the Covenant of Mayors - Europe, with insights from ManagEnergy Initiative, Smart Cities Marketplace, and Bankers without Boundaries.

Title: Access to finance for the local energy transition: how to move away from subsidies?

Date: Thursday, the 12th of October  

Time: from 11:30 to 13:00 

Location: Room Hall 400, Square Brussels 

Register: via this link

Expert insights on transforming cities & regions through sustainable energy and finance strategies

• Angela Rivada Rodríguez will share Valladolid's strategies within transport and energy performance contracting (working with ESCOs) for building renovations.
• Laurent Chanussot will delve into supporting municipalities to scale-up energy refurbishments of public buildings.
• Sanela Mikulčić Šantić will discuss renewable energy cooperatives and citizen financing.
• Tommaso Buso from Bankers without Boundaries will decode the process of rolling out smart and sustainable investment projects from an investor's perspective.
• Sylwia Slomiak (Prospect+ and Eurocities) will talk about the key opportunities and barriers for using innovative financing schemes at the local level.

What you will gain from this session

By the end, you'll have a clearer understanding of:

• The EU policy framework for energy transition and REPowerEU measures.
• How local authorities across Europe are navigating the complex landscape of financing climate and energy plans.
• Where to look for examples of successful projects your region can replicate.
• The benefits of peer-mentoring programmes including PROSPECT+ and ManagEnergy.

The session will also highlight the recommendations and feedback public authorities have contributed as part of Prospect+ Policy Dialogue. If you have not shared your opinion with us yet, go to Policy Dialogue and take part in shaping the session.

We value active participation. Let's learn from each other and create a future that's sustainable and empowered.