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Financing Ambitious Local Climate Objectives

Objective

Implementing ambitious local climate action plans is paramount in the fight against climate change. Moreover, the sheer aggregated investment volume contained in these plans holds the promise of a powerful longlasting economic recovery. Unfortunately, the lack of a comprehensive funding solution undermines the realisation of these plans.

FALCO addresses this problem by developing a financing solution for ambitious local climate plans of over 180 Flemish signatories to the Covenant of Mayors (“FLC Solution”). This solution builds on the results of several previous projects, integrates state of the art knowledge on sustainable energy financing, and was tested at the conceptual level. Unlike other solutions, the FLC solution 1) looks at the climate action plans as a whole (potential for piggybacking) instead of adopting a project-per-project view (risk of cherry picking); 2) focuses on lifting financial and non-financial investment barriers; and 3) uses private capital instead of public budgets for its financing operations. In addition, FALCO will develop accompanying (policy) measures that will induce demand for investments.

FALCO is designed as a scalable pilot that allows real-life testing of the FLC solution.

FALCO will:
• Develop the theoretical FLC solution into a fully operational financial solution (WP2);
• Develop a project portfolio (ca. 50 mio €) w.r.t. energy efficiency in SMEs and energy renovation of public and private buildings (WP3);
• Have an independent party due diligence validate the proposed financial solution and project portfolio (WP4);
• Contract investments for at ca. 17.6 mio € resulting in an estimated 27.7 GWh primary energy savings and the creation of 250 sustainable jobs (WP5);
• Monitor the investments and document lessons learnt (WP6);
• Disseminate the results in Flanders and in the EU, investigate its replication in other EU member states /regions (WP7).

Field of science

  • /engineering and technology/environmental engineering/energy and fuels/renewable energy

Call for proposal

H2020-EE-2016-CSA
See other projects for this call

Funding Scheme

CSA - Coordination and support action

Coordinator

TRACTEBEL ENGINEERING
Address
Boulevard Simon Bolivar 34 - 36
1000 Bruxelles
Belgium
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 455 400

Participants (8)

SUSTAINABLE MARKETS CONSULTING
Belgium
EU contribution
€ 145 925
Address
Familiestraat 72
2060 Antwerpen
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
3E
Belgium
EU contribution
€ 96 943,75
Address
Kalkkaai 6
1000 Brussel
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
FACTOR 4 BVBA
Belgium
EU contribution
€ 250 400
Address
Kruisstraat 127
2570 Duffel
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
CLIMATE ALLIANCE - KLIMA-BUENDNIS - ALIANZA DEL CLIMA e.V.
Germany
EU contribution
€ 51 000
Address
Galvanistrasse 28
60486 Frankfurt Am Main
Activity type
Other
STAD GENT
Belgium
EU contribution
€ 49 468,75
Address
Botermarkt 1
9000 Gent
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
STAD ANTWERPEN
Belgium
EU contribution
€ 42 906,25
Address
Grote Markt 1 Stadhuis
2000 Antwerpen
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
VLAAMS-BRABANT
Belgium
EU contribution
€ 43 801,25
Address
Provincieplein 1
3010 Leuven
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
PROVINCIEBESTUUR WEST-VLAANDEREN
Belgium
EU contribution
€ 36 606,25
Address
Koning Leopold Iii Laan 41
8200 Sint-andries/brugge
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)