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Resilient CLIMATE Financing and Investment Taskforces

Project description

Bridging the climate resilience financing gap

Europe faces an urgent climate crisis, demanding rapid adaptation measures to tackle ongoing environmental changes. However, public budgets alone cannot address the financial needs for climate resilience. With this in mind, the EU-funded CLIMATEFIT project aims to empower public authorities and financing and investment entities to tap into diverse public and private funding sources. Covering 20 territories in Southern, Eastern, and Northwestern Europe, the project will identify funding barriers and enablers. It will develop innovative investment strategies, scalable plans, and bankable investment cases, fostering climate resilience. The overall goal is to accelerate finance, enhance adaptation funding, and inform European policies, creating a united front against the challenges of climate change.

Objective

Urgent accelerated action is required to adapt to unavoidable and ongoing climate change. Climate-resilient investments must be substantially scaled up. Public budgets will not be able to address the adaptation financing challenge alone, financing from the private sector will also be necessary. CLIMATEFIT contributes to bridging the resilience financing gap by providing critical insight and building the capacities of Public Authorities (PAs) to attract and orchestrate various public and private funding & financing sources, and of Financing and Investment Entities (FIEs) to discover and access resilient investment opportunities.
CLIMATEFIT will experiment on a mix of 20 territories in Southern, Eastern and Northwestern Europe in their transformational pathways towards climate resilience. The journey will start by taking stock of funding & financing barriers and enablers gathered in the Financing Landscape taxonomy. CLIMATEFIT will create an ingenious Manual for leveraging finance to, 1) co-design 20 innovative investment strategies allowing to identify sources of funding 2) develop 10 credible and scalable investment plans to help better negotiate and articulate financing streams and define investment concepts, and 3) pilot 4 bankable, tailored investment cases. CLIMATEFIT will build a Pathway for FIEs to accelerate finance, test refined methods to reward climate-resilient investment and apply smart adaptation funding and financing solutions. It will establish Local Resilience Taskforces (LRTs) composed of PAs and FIEs that propose a catalytic and systemic approach to resilience financing. Led by WCF, the high-level consortium will build capacity, co-create solutions with PAs and FIEs, and inform EU adaptation and sustainable finance policies. Finally, CLIMATEFIT aims to boost resilience financing in Europe by consolidating the dynamics in LRTs, and to promote and scale its research findings through the European Network of LRTs and its user-oriented One-Stop Shop.

Keywords

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Programme(s)

Multi-annual funding programmes that define the EU’s priorities for research and innovation.

Topic(s)

Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.

Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

HORIZON-RIA - HORIZON Research and Innovation Actions

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) HORIZON-MISS-2022-CLIMA-01

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Coordinator

FONDEN WORLD CLIMATE FOUNDATION
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 699 938,75
Address
TOLDBODGADE 55B
1253 Copenhagen
Denmark

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Danmark Hovedstaden Byen København
Activity type
Other
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 699 938,75

Participants (24)

Partners (7)

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