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Summary
- The new Climate City Capital Hub aims to help European cities access private finance to transition to net zero.
- Over €650bn in funding is needed for more than 100 European cities to progress towards the 2030 carbon-neutral goal.
- Net Zero Cities project, as part of the EU’s mission, aims to develop climate-neutral and smart cities by 2030.
- Urban areas must be redesigned to reduce the impact of climate change, including installing renewable energy sources and improving energy efficiency.
At the end of June, at the Cities Mission Conference in Valencia, the EU’s Net Zeroes Cities project announced a new Climate City Capital Hub to help raise funds to decarbonise cities across Europe.
An estimated €650bn ($707bn) of funding is needed to help over 100 European cities progress towards the 2030 carbon-neutral goal.
The cities are looking to raise funds for a variety of net-zero and climate-resilience infrastructure projects from public and private investors.
Net Zero Cities’ main financial partner Bankers Without Boundaries is providing advice to cities to help them gain access to public and financial finance.
“We are a group of former investment bankers who have moved away from the Bulge Bracket firms and are looking to do more to help the environment and public sector actors like cities,” Allison Lob, executive director of Bankers Without Boundaries, tells Energy Monitor.
Read the full post at Energy Monitor.
