PROSPECT aims to encourage the exchange of knowledge and experience on innovative financing schemes used to implement sustainable energy and climate plans, especially within the framework of the Covenant of Mayors.
By innovative financing schemes, PROSPECT refers to non-traditional ways of raising funds and facilitating sustainable energy and climate investments by mixing different sources (own fund, public and private funds) or engaging different partners (e.g. citizens, private sector) outside of established financial institutions (e.g. banks). These innovative financing schemes include energy performance contracting, third party financing, revolving funds, soft loans, green bonds, guarantee funds, and citizen finance, such as cooperatives and crowdfunding.