The EU City Lab on Funding the Energy Transition, organized by URBACT and the European Urban Initiative (EUI), will take place in Bucharest on 20-21 November 2024. This event focuses on exploring financing solutions to support cities in their energy transition efforts.

As part of the event, Sylwia Slomiak from Eurocities will provide an overview of financing instruments and cities’ needs based on insights from PROSPECT+ consultations, including policy dialogue webinars. The event will highlight how cities are addressing financial barriers to energy transition projects and exploring new financing strategies.

Key Financing Instruments and Cities' Needs

The scarcity of EU subsidies is pushing cities to seek alternative financing options. Innovative instruments such as green bonds, public-private partnerships, and blended finance are gaining attention as ways to supplement traditional funding sources. At the event, PROSPECT+ will present the Finance Readiness Check tool, designed to help cities assess their financial readiness and align their projects with available funding opportunities.

Cities face several challenges in adopting new financing models:

• Lack of expertise in navigating complex financial structures.
• Risk aversion toward new funding mechanisms.
• Limited resources and capacity to manage large-scale projects.
• Regulatory barriers that complicate the adoption of innovative solutions.

PROSPECT+ Role and Contributions

Through PROSPECT+, we aim to support cities in overcoming these barriers. The Finance Readiness Check tool will be showcased to help cities evaluate their financial strategies and identify opportunities for improvement. Additionally, Sylwia will participate in a panel discussion and facilitate an interactive session on day two, where participants can collaborate on practical solutions for financing the energy transition.

Join Us in Bucharest

This EU City Lab provides a unique opportunity to learn from successful case studies and gain practical tools to unlock financing for energy transition projects. Join us in Bucharest to explore how cities can overcome financial barriers and foster sustainable urban practices through innovative financing.