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.
Fields of science
Programme(s)
Funding Scheme
HORIZON-RIA - HORIZON Research and Innovation ActionsCoordinator
1253 Copenhagen
Denmark
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Participants (24)
104 51 Stockholm
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73100 Lecce
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2000 Antwerpen
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79098 Freiburg Im Breisgau
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
13144 MARSEILLE
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
59100 Prato
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
20131 Milano
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13100 Aix-En-Provence
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75009 Paris
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
101 00 Praha 10
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20129 Milano
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
2000 Maribor
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4000 270 Porto
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510113 Alba Iulia
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05001 Avila
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67000 Strasbourg
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25121 Brescia
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1000 Bruxelles / Brussel
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67076 STRASBOURG CEDEX
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510134 Alba Iulia
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3600 Genk
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1000 Bruxelles / Brussel
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75002 Paris
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020312 Bucuresti
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Partners (7)
35131 PADOVA
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00178 ROMA
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460 01 Liberec
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4049 001 Porto
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2000 Maribor
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24122 Bergamo
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OX2 0ES Oxford, Oxfordshire
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.