PROSPECT+ at the European Week of Regions and Cities: Access to finance for the local energy transition

PROSPECT+ at the European Week of Regions and Cities: Access to finance for the local energy transition

On 3rd Aug 2023

Join PROSPECT+ at The European Week of Regions and Cities for an interactive session aimed at empowering cities and regions to accelerate their energy transition and achieve climate neutrality.

The European Week of Regions and Cities will feature an insightful session on Thursday, October 12, from 11:30 to 13:00 in Room Hall 400, Square Brussels. This 90-minute participatory lab, organized by PROSPECT+ in collaboration with the Covenant of Mayors Office, Smart Cities Marketplace, and Managenergy, will focus on finding innovative ways to finance the local energy transition while reducing reliance on subsidies.

Financing opportunities for public authorities

The energy crisis showcased the crucial role of public authorities in the energy transition. Local authorities responded swiftly and efficiently to the crisis, implementing low-cost actions to reduce energy demand in public facilities and increase the use of renewable energy. They also supported vulnerable households and local businesses during this challenging time. However, to ensure long-term success and achieve climate neutrality by 2050, cities need more than just public funding and subsidies. Accessing finance for local climate and energy plans is a complex task due to various factors like lack of trained staff, confusing application processes, and regulatory constraints.

To address these challenges, a session will be conducted to introduce the EU policy framework for the energy transition and REPowerEU measures. It will also present survey results from cities and regions participating in the Prospect+ capacity-building programme, aiming to understand the barriers they face in utilizing financing instruments for their climate and energy actions.

During the session, successful examples of innovative financing instruments used by the Covenant of Mayors signatories will be explored. The benefits of peer-mentoring programs like Prospect+ and ManagEnergy, as well as masterclasses under the Smart Cities Marketplace, will be discussed to enhance local capacities and reduce reliance on subsidies.

Active participation from the attendees will be encouraged, with discussions focusing on replicating similar approaches in their respective contexts. The aim is to promote effective financing solutions and support cities in their journey towards sustainable energy and climate goals.

Register for the session Access to finance for the local energy transition: how to move away from subsidies? via this link.



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