Covenant of Mayors Investment ForumEnergy Efficiency Finance Market Place19-20 February 2019, Brussels

Proceedings

#invest4cities

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The information and views set out in this document are those of the author(s) and do not

necessarily reflect the official opinion of the European Union. Neither the European Union

institutions and bodies, nor any person acting on their behalf, may be held responsible for the

use which may be made of the information contained therein.

INDEX

BACKGROUND TO THE EVENT 01

PLENARY SESSIONS 03

Opening session 04

Joining forces on the energy transition: public-private cooperation 05 at local level and boosting investment for EU cities and regions

ManagEnergy Talk: ‘How to transform apocalypse fatigue into 07 action against global warming’

Boosting investment for EU cities and regions: a stakeholder debate 08

Closing session 09

BREAKOUT SESSIONS 11

Innovative sustainable energy planning 12• COMPETE4SECAP AND 50000&1 SEAPS 12• URBAN LEARNING 12• SIMPLA 12• EDI-NET 12• ROADMAPS FOR ENERGY AND PANEL 2050 13

Financing clean urban mobility 13• HELLO 13• BIT-SYSTEM 13• UITP 14• TRANSITION TO ELECTRIC BUSES AND BOATS 14• REMOURBAN AND TRIANGULUM 14

Financing energy efficiency in the public sector 14• PARIDE 14• PM4PM 15• NEWLIGHT 15• SUSTAINABLE COMMUNITY INVESTMENT 15• BUNDLE-UP 15

Financing home renovation 16• OKTAVE 16• HOUSEENVEST 16• INNOVATE 16• BE REEL 16• REFURB 17

Innovative financing solutions 17• EAMAP 17• PARIS GREEN FUND 17• QUALITEE 17• RAMCC TRUST FUND 18• RESFARM 18

Financing climate adaptation 18• ATHENS RESILIENT CITY AND NATURAL CAPITAL 18• GREEN ROOFS HAMBURG 19• SEC ADAPT AND EMPOWERING 19• DICCA AND URBAN LAKE 19• URBAN ROOFS AND URBAN ADAPT 20

LIST OF EXHIBITORS 21

BACKGROUND TO THE EVENT

01

Accelerating investments in sustainable energy and climate adaptation is important to ensure the transition to a climate-neutral Europe in the long term, and prepare our cities and regions for the threats and risks of climate change that are already known today.

In response to those challenges, in November 2018, the European Commission presented its strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050 – A Clean Planet for All. It sets out how Europe can lead the way to climate neutrality by investing in realistic technological solutions, empowering citizens and aligning action in key areas such as industrial policy, finance and research, while also ensuring social fairness for a just transition. It will build on the new energy policy framework established under the Clean Energy for All Europeans package. The package establishes the Smart Finance for Smart Buildings initiative, which includes practical solutions for unlocking further private financing for energy efficiency and renewables in buildings. This initiative builds on the Investment Plan for Europe, including the European Fund for Strategic Investments and the European Structural and Investment Funds.

The Covenant of Mayors, launched in 2008, has become a key European initiative to drive forward the action taken by cities to help achieve the EU energy and climate targets beyond 2020. There are over 8 000 signatory cities, representing 250 million inhabitants.

On 19 and 20 February 2019, the Directorates-General for Energy and Climate Action and the Executive Agency for Small and Medium sized Enterprises (EASME) held the second edition of the Covenant of Mayors Investment Forum – Energy Efficiency Finance Market Place. This has become the largest event dedicated to enabling peers to share their experiences of financing for energy efficiency and climate adaptation measures in Europe.

The aim of the 2019 event was to offer real capacity building for peers in cities and regions. It was centred around in-depth presentations on 30 successful projects, which were grouped into 6 different strands: innovative sustainable energy planning; financing clean urban transport; financing energy efficiency in the public sector; financing home renovation schemes in cities and regions; innovative financing schemes for climate and sustainable energy; and financing climate adaptation.

These actions have mostly been funded under different EU programmes, such as Intelligent Energy Europe, Horizon 2020 Energy Efficiency and Smart Cities and Communities, LIFE, the European Local Energy Assistance (ELENA) facility managed by the European Investment Bank (EIB) and the European Energy Efficiency Fund (EEEF), managed by Deutsche Bank. Other national and local initiatives were also presented, including a project from Argentina in the framework of the Global Covenant of Mayors initiative.

The event attracted over 550 participants from more than 35 countries, representing local and regional authorities, national governments, international organisations, the industrial and building sectors, financial institutions, consultancies, research institutes and NGOs.

The programme included the ManagEnergy Talk by Norwegian psychologist Per Espen Stoknes, on ‘How to transform apocalypse fatigue into action against global warming’.

There was also an exhibition of institutions presenting relevant initiatives and programmes.B

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PLENARY SESSIONS

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OPENING SESSION

Julien Guerrier • Director of EASME

Julien Guerrier welcomed all participants to the event, and remarked that the large presence of local and regional authorities showed the commitment of local actors to shaping a more sustainable future for Europe. He stated that a lot had happened since the last conference a year ago, and that although the results are encouraging, a lot more needs to be done, especially on sustainable financing and investments. EASME helps stimulate by managing the Horizon 2020 Energy Efficiency call for proposals, and large parts of the LIFE programme that focus on environment and climate action. Among the specific initiatives managed directly by EASME, Mr Guerrier mentioned Sustainable Energy Investment Forums, which is contributing significantly to upscaling investment in sustainable finance in Member States. He also mentioned the ManagEnergy Initiative, which builds the capacity of local energy agencies, enabling them to be game-changers in the market and support public authorities in driving the energy transition.

Hans van Steen • Director for Renewables, Research and Innovation, Energy Efficiency at the Directorate-General for Energy, European Commission

Mr Van Steen welcomed the fact that more and more cities, territories and islands are on board for a clean energy transition. He added that efforts needed to be intensified to meet the energy efficiency objective by 2020. Moreover, several EU countries would need to step up their actions in order to meet their renewable energy targets by 2020. He reminded the audience that the revised regulatory energy and climate framework for 2020-2030 was adopted before the end of December 2018. The Clean Energy for All Europeans package will bring stability to investors and the legal certainty needed at all levels to achieve the clean energy transition. It also puts an emphasis on empowering individual consumers and introduces a much more integrated governance system under the energy union governance framework. The decarbonisation aspects of upcoming programmes and initiatives will also be streamlined. Mr Van Steen also noted that the event would contribute to the discussion of the European strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy, adopted and published by the European Commission at the end of November 2018.

Katarina Luhr • Vice-Mayor for Environment and Climate for the City of Stockholm and Board Member of the EU Covenant of Mayors

‘Dear change-makers, is there a price tag on our survival? If we do not act now, the price will be very high. Instead of worrying about the future, try to change it while you still can.’ ● Katarina Luhr

Ms Luhr emphasised the complexity and need for local climate action, as demonstrated by the global youth movements that have been marching the streets in Europe. Ms Luhr described the impressive path that Stockholm embarked on in the 1970s, putting climate and environment at top of the urban development agenda. With its fast-growing economy and population, Stockholm ranks high in indexes for innovation, sustainability and quality of life. Building on what has been achieved so far, Stockholm aims to be carbon neutral by 2040. Ms Luhr recalled the scientific evidence for climate action (such as the Intergovernmental Panel on Climate Change reports), highlighting its co-benefits. Initiatives to deliver on climate action must be diverse and implemented at various levels. She said it is crucial that the European institutions fully support the energy transition at local level in order to shape investments. In this respect, funding programmes such as Horizon 2020 and its successor Horizon Europe, the LIFE programme, actions promoted by the EIB and other programmes are needed more than ever. Collaboration between different stakeholders should also be promoted.

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Sandra Schoonhoven • Head of Sustainability Programmes, ING bank

Ms Schoonhoven compared the different energy-efficiency investment stakeholders with super-heroes: each has special capabilities that together – united by purpose – are what is needed to continue the required energy renovations and fight climate change. Ms Schoonhoven described ING’s activities, which aim to align the bank’s lending portfolio of EUR 600 billion with the Paris Agreement goals and the relevant Sustainable Development Goals. The bank is also working to build an energy-efficient mortgage portfolio. One main barrier that Ms Schoonhoven mentioned is linked to the fact that consumers find it difficult to act. Banks therefore have an important role to play in providing tailored financial instruments such as loans, green mortgages, etc., as well as non-financial support. This includes advice on smart meters or adequate suppliers with reduced rates for ING customers as part of the customer mortgage offer, free tools to generate insight or a reduced rate for advice given at home. As examples of best practice, Ms Schoonhoven also mentioned two initiates in which the bank is participating: the Energy Efficiency Financial Institutions Group (EEFIG) and the Horizon 2020 Energy Efficient Mortgages Action Plan (EeMAP) project.

JOINING FORCES ON THE ENERGY TRANSITION: PUBLIC-PRIVATE COOPERATION AT LOCAL LEVEL AND BOOSTING INVESTMENT FOR EU CITIES AND REGIONS

The first day of the conference closed with a plenary session on public-private cooperation at local level, moderated by Mr Eero Ailio, Adviser on Energy Transition at the Directorate-General for Energy (European Commission). The four speakers in the session represented citizens, local authorities and industries involved in the clean energy transition.

Jouni Keronen • Executive Director, Climate Leadership Coalition

Mr Keronen outlined the business opportunities across sectors linked to the energy transition (energy, transport, forestry, industry, ICT, artificial intelligence and big data). He mentioned that Vancouver was one of the leading cities attracting investors because of its advancement in technologies. The main purpose of the Climate Leadership Coalition (CLC) is to encourage the competitiveness of Finnish businesses and research organisations. It also aims to improve their ability to respond to the threats posed by climate change and the scarcity of natural resources, as well as to make use of the related business opportunities. In his view, a CLC for Europe would be a good idea. Mr Keronen also mentioned his hope that the energy sector would go through the same transition as telecommunications did in the 1990s, focusing not on the amount of kilowatt hours sold but on the quality of service.

Roy Uri Schmalbach Schlie • Senior Project Developer, Global Centre of Competence Cities, Siemens

Mr Schmalbach Schile started by asking what makes cooperation between cities and the private sector work. He stressed that, in the past, this cooperation had been very transactional, whereas it is now shifting towards a more value-driven discussion. In order to adapt, Siemens is looking at cities in a more holistic way than simply selling its own technologies: only 60 % of the proposed measures now include the company’s solutions. In his opinion, innovation is not only about technological advancement but the way we work together, and the new types of business models that are developed.

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05

Vincent Minier • VP Global Energy Public Policy, Schneider Electric

Mr Minier gave the example of the microgrid model implemented in Grenoble which, in his opinion, serves the purpose of energy optimisation, decarbonisation and resilience. He stated that technologies were already there and that cities could cooperate with each other as a result. In terms of gas, there is no regulation that values local flexibility. Mr Minier stressed that as each city had its particularities, standardising the approach (product, financing and regulation) could be challenging. Moreover, cities need to have the required skills, which is not always the case.

Piero Pelizzaro • Chief Resilience Officer, Milan, Italy

Mr Pelizzaro highlighted that cities were already being affected by heatwaves and that the energy grid needs to adapt to this new situation. Milan is therefore collaborating with the private sector (the energy distribution operator) in order to avoid energy shortages as a result of heatwaves. He stated that cities, especially large ones, had the potential to drive the market. However, he highlighted the importance of engaging the community in co-designing technical solutions, which helps to increase acceptance of their implementation. Equity is definitely an issue, but it is also important to consider how to involve the community and how to preserve ownership of the financial solution. Public and private actors can cooperate in this respect, for example, through a foundation. One example of a best practice is energy-intensive industries supplying waste heat for district heating. It would be interesting to explore whether there is scope for collaboration with cities on this and other aspects.

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ManagEnergy TALK: ‘HOW TO TRANSFORM APOCALYPSE FATIGUE INTO ACTION AGAINST GLOBAL WARMING’

The talk was introduced by Vincent Berrutto, Head of the EASME Energy Unit. He presented the ManagEnergy initiative, which aims to increase the energy skills of local and regional energy agencies so that they can lead the energy transition at local level. To this end, ManagEnergy has successfully delivered Master Classes on project development and financing, which trained nearly 100 energy-agency staff from 22 countries. In addition, ManagEnergy experts are available to visit energy agencies to meet their staff and stakeholders, and offer tailor-made support for developing new services or boosting existing ones.

After this introduction, Per Espen Stoknes, a psychologist with a PhD in Economics, a TED Global speaker, Director of the Centre for Green Growth at the Norwegian Business School, and a member of the Norwegian Parliament, delivered a fascinating talk on how to transform apocalypse fatigue into action against global warming.

In his talk, he zeroed in on how the language used when discussing global warming can have an impact on how we react to climate change. When we constantly hear about disaster and doom, or receive overly scientific reports that are difficult to understand, we can become fatigued by news that is constantly negative. This leads to a drop in engagement on issues relating to climate change. Stoknes looked at the five defences we use to avoid thinking about the state of our planet, including distancing ourselves from the debate, concentrating on the negativity of the message and denying the very science underpinning the process.

He then went on to talk about how to 'flip' these defences into success criteria for a positive view on the future. According to him, this could be done through promoting good examples and success stories, including social exchanges. Moreover, the focus could be shifted to human health and opportunities by proposing simple climate-friendly options by default (‘nudges’), providing and receiving positive and motivational feedback, and facilitating a comparison of sustainable actions among peers to stimulate exchange and replication (e.g. through the Ducky app) – all centred on the climate.

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BOOSTING INVESTMENT FOR EU CITIES AND REGIONS: A STAKEHOLDER DEBATE

This session was organised with the European Innovation Partnership on Smart Cities and Communities (EIP-SCC) and the Covenant of Mayors to discuss actions by cities and communities to accelerate energy efficiency and unlock investment.

The session was moderated by Ms Pirita Lindholm, Director of the European Regions Research and Innovation Network (ERRIN). Ms Pirjo Jantunen (Corporate Social Responsibility Manager at Helen Ltd) delivered a keynote speech. Discussions then continued on three panels, which were composed as follows.

CITIES• Gergana Miladinova (Team Leader, DG REGIO)• Ovidiu Cimpean (Director, Cluj-Napoca City Hall)• Euken Sesé (Director, Fomento de San Sebastián).

INDUSTRY• Haitze Siemers (Head of Unit, DG Energy)• Enrico Piraccini (Development Manager, Hera Group)• Brice Fabry (Zero Emission Strategy and Ecosystem Director, Nissan Europe).

INVESTORS• Paula Rey Garcia (Buildings and Finance Team Leader, DG Energy)• Matteo Andreoletti (Head of Infrastructure Equity, Europe and North America, Whitehelm Capital)• Steve Fawkes (Senior Advisor, Investor Confidence Project).

Top of the agenda was the publication Towards a joint investment programme for European smart cities. The main takeaways have been the following.

• Facilitate change. Participants reached widespread agreement that climate change needs to be tackled in cities, as they have a close relationship with citizens and can engage stakeholders to facilitate change based on real needs.

• Step up collaboration, innovation and action. A shift in mindset has meant that banks start to see the impact that greater collaboration, innovation and action can achieve and are beginning to finance more projects and initiatives.

• Co-create projects with citizens. Everything should be done for and with the citizens of those cities and communities.• Develop joint investment plans (Cluj-Napoca example) and integrated thinking. It is not only about purchasing

products but also having a complete vision, including the alternatives (e.g. urban planning). To reap the full benefits, investments must be integrated.

• Invest in more public-private partnerships. Cities need to reach out more and express their needs, while industry and investors need to adapt to those needs. Good examples of cities working with small and medium-sized enterprises (SMEs) already exist (e.g. San Sebastian), but more are needed.

• Build capacity in cities both on the demand and supply side. Cities – as an interface between their city’s society, businesses and banks – need to build skills to translate the city’s needs into concrete plans and projects. These are then ‘marketed’ to businesses and the financing community (banks, investors and other financiers) with a full understanding their respective positions and expectations, in order to be successful.

• Develop project capital. Cities need to develop capacity and project ideas, but in parallel, project development capital also needs to be made available.

• Bring relevant stakeholders together. The European Commission will continue to lead and facilitate the links between cities, businesses and the financing community, using its platforms for exchange to make a difference.

• Increase funding. Many instruments already exist, but the new Multiannual Financial Framework will also increase the EU budget on climate action, and the post-2020 cohesion policy has a strong urban dimension.

• Implement standards. Standardisation is key, not only in technological terms but for processes. Procurement frameworks and project scale-ups are good examples where standards are essential.

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CLOSING SESSION

The conference closed with a plenary session moderated by Mr Liviu Stirbat, Deputy Head of the Adaptation Unit of the Directorate-General for Climate Action (European Commission). The five panellists represented public and private financial institutions, and local authorities. All speakers were first asked whether they still consider finance for sustainable energy and climate adaptation measures to be a challenge. They then shared their views on the game-changers for financing sustainable energy and adaptation to climate change in the years to come.

Björn Bergstrand • Head of Sustainability/Head of Media Relations, Kommuninvest

Mr Bergstrand argued that, at least in Sweden, there are procurement mechanisms to provide inexpensive finance for local authorities. Kommuninvest is an AAA-rated entity that provides green loans for projects in renewables, energy efficiency and water management. In the case of Sweden, the biggest challenge is therefore finding adequate knowledge in the public sector to develop projects. The EU needs a strong institutional framework supporting local authorities in order for them to access finance (e.g. Swedish Kommuninvest bank owned by and funding local authorities). For this, bottom-up action is not enough.Green investment projects are now also calculating the ‘carbon yield’. Energy efficiency projects have the highest carbon yield and the greenhouse gases-emission abatement costs are the lowest. The climate profitability of projects should also be taken into account, not only their financial profitability. The market for sustainable finance products is growing and becoming more relevant for project financing.

Waltraud Schmid • Head of Energy Centre, Urban Innovation Vienna

Ms Schmid agreed with Mr Bergstrand’s statement and argued that, in order to scale up the climate and energy transition, projects need to be better connected with financing. Today, we see pilot after pilot, when there needs to be more replication and upscaling of already tested solutions. She then described Vienna’s subsidy scheme for the thermal renovation of buildings: the more the energy performance is improved, the higher the subsidies (grants and cheap loans). As a result, energy consumption in buildings is decreasing. Ms Schmid argued that people sometimes feel distant from decision-makers and that this should change. She added that it would be useful to integrate the lifecycle and external costs of projects to lead to more informed decisions. We would need top-down strategy, governance and policy work to create the scale and the right framework conditions to mobilise financing, and to reduce the repayment time for energy efficiency investments (e.g. through a carbon tax (EUR 100/ton in Sweden) integrating the costs of CO2).

Terry McCallion • Director, Energy Efficiency and Climate Change, European Bank for Reconstruction and Development

Mr McCallion agreed that there is currently a general lack of the capacity needed to streamline renovation within the sub-national public sector. He added that there is a need for joint thinking and sector-wide programmes. Enough capital would be available to invest in the climate and energy transition. Mr McCallion highlighted the need for governments to set a legal framework to enable banks and financial institutions to align their work with the Paris Agreement.Moving project by project is not enough anymore; a strong top-down approach is needed. This would attract long-term investors, such as pension funds. Moreover, Mr McCallion argued that people need to understand the benefits of moving to a green economy. We also need to increase the awareness of citizens and children of the consequences of climate change. Cities play a big role in this. We would also need to de-incentivise behaviours that have a negative environmental impact.

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Reinhard Six • Senior Engineer in Energy Efficiency, European Investment Bank

Mr Six stated that financing is still an issue in many cities across the EU. Many energy efficiency projects are rather small, with long payback time and are therefore not particularly interesting for investors unless they are standardised and grouped together. Technical assistance from the European Investment Bank (EIB) and the European Bank for Reconstruction and Development can help in bundling projects and building capacity to prepare projects and make them bankable. Mr Six was very positive on the future investments on energy, with green finance becoming more prominent. However, although progress has been made in mainstreaming sustainable energy and climate resilience in finance, he finds that it is still a challenge to mainstream climate action, at least into the EIB activities.

Steven Fawkes • Founder and Managing Partner at EnergyPro Ltd

Mr Fawkes picked up on Mr Six’s point, arguing that more effort is needed to replicate more of the solutions that we know are working. Mr Fawkes highlighted that the implementation of the EU sustainable finance action plan, including the taxonomy and the risk disclosure, should mainstream sustainability in the financing industry. He also stated that platforms such as the Energy Efficiency Financial Institution Group (EEFIG) can be a real game changer.

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BREAKOUT SESSIONS*

* All presentations are available at https://ec.europa.eu/info/events/covenant-mayors-investment-forum-energy-efficiency-finance-market-place-2019-feb-19_en

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INNOVATIVE SUSTAINABLE ENERGY PLANNING

COMPETE4SECAP AND 50000&1 SEAPSMarika Rosa • Ekodoma – Emanuele Potenza • SOGESCA

‘We can ensure systematic implementation of the SECAPs through day-to-day energy management systems in local authorities.’ ● Marika Rosa

Both projects aim to test and implement an innovative approach, based on the integration of Energy Management System Standard ISO 50001 into local Sustainable Energy Action Plans (SEAPs) and Sustainable Energy and Climate Action Plans (SECAPs). 50000&1 SEAPs supported over 40 municipalities to institutionalise SEAPs and certify local authorities’ energy management systems. Based on 50000&1 SEAPs, Compete4SECAP is delivering a systematic approach to energy savings and the use of renewable energy sources across local authority areas, using energy management systems and energy saving competitions. Funded under Horizon 2020 and Intelligent Energy Europe. { http://www.50001seaps.eu/{ http://compete4secap.eu/

URBAN LEARNINGWaltraud Schmid • Urban Innovation Vienna

The cities of Vienna, Amsterdam, Berlin, Paris, Stockholm, Warsaw, Zaanstad and Zagreb joined forces in integrating energy planning into the process of planning new urban areas. The cities created cross-departmental local groups, scrutinised their processes, instruments and tools, and developed hands-on action plans to progress towards integrated energy planning. The session will present lessons learned from the cities. Funded under Horizon 2020.{ http://www.urbanlearning.eu/

SIMPLAFabio Tomasi • Area Science Park Trieste

'SIMPLA developed and tested a methodology that helps cities to develop and implement their energy and mobility plans in a harmonised way.’ ● Fabio Tomasi

The project supports cities in designing coordinated energy and urban mobility plans – Sustainable Energy and Climate Action Plans (SECAPs) and Sustainable Urban Mobility Plans (SUMPs). SIMPLA developed a methodology that helps cities to define a common vision, devise coordinated actions and set up a joint monitoring system across energy and urban mobility sectors. The SIMPLA approach has been tested by a group of cities from six European countries that have been trained and supported in their pilot process to coordinate the different policies. Funded under Horizon 2020.{ http://www.simpla-project.eu/

EDI-NETRichard Bull • De Montfort University

'The EDI-Net tool demonstrates the potential of metered energy and water data to engage people and save energy and money’ ● Richard Bull

EDI-Net (Energy Data Innovation Network) designed three interrelated ICT tools to help municipalities improve their energy management and communication with building-users. The tool is a simple and effective ICT platform that includes an energy dashboard, league table, discussion forum and benchmarking tool. Case studies will be presented, illustrating the success of the tool in terms of energy planning and efficiency savings. Funded under Horizon 2020. { https://edi-net.eu/en/home.html

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ROADMAPS FOR ENERGY AND PANEL 2050Jamie Ruiz Huescar • City of Murcia – Muiste Marek • Tartu Regional Energy Agency

‘A brave joint effort to deliver a wise, meaningful and rich plan for the energy future of our cities.’ ● Jamie Ruiz Huescar

Roadmaps for Energy (R4E) set out to develop a new type of energy strategy through visions and roadmaps for cities. These roadmaps were co-created with local stakeholders and were focused on smart buildings, smart mobility and smart urban spaces. PANEL 2050 developed energy roadmaps for communities in Central and Eastern Europe to overcome the local challenges of energy transition. The roadmaps were tested at different governance levels (municipal, county, regional and national). Funded under Horizon 2020. { http://roadmapsforenergy.eu/{ https://ceesen.org/panel2050/

FINANCING CLEAN URBAN MOBILITY

HELLOOlaf Bender • [ui!] urban mobility innovations

‘Increase the attractiveness of cities of by providing e-mobility services for their citizens.’ ● Olaf Bender

The project aims to facilitate procurement of an electric car-sharing scheme in five different European countries. The investment programme consists of 2 000 electric vehicles, 1 200 charging points, and technology integration investments (in-vehicle devices, communication systems, etc.). The investment aims to improve the quality and attractiveness of urban mobility services. Funded under EIB-ELENA. { https://www.eib.org/attachments/documents/hello-factsheet-en.pdf

BIT-SYSTEMRyszard Swilski • Pomeranian Voivodeship – Sylwia Wymyslowska • InnoBaltica

‘Collaboration between public and private entities requires sophisticated tools, but it is worth it for the final cohesive transport offer.’ ● Sylwia Wymyslowska

This project aims to improve public transport system integration by developing a coherent, user-friendly and innovative ticketing system at regional level. It is designing system-level guidelines for passenger information and implementing solutions to merge a large innovative bike-sharing scheme with public transport subsystems, for hassle-free mobility. The project aims to trigger EUR 37 million investment. Funded under EIB-ELENA. { https://www.eib.org/attachments/documents/bit-system-factsheet-en.pdf

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UITPArtur Perchel • International Association of Public Transport

‘A comparison of the lifecycle expenditure of the different bus-propulsion alternatives that are under consideration will help identify risks to the financial sustainability of a fleet-purchase tender, or the local transport sector as a whole.’ ● Artur Perchel

The International Association of Public Transport will provide a detailed overview of existing regulatory framework requirements to finance zero-emission bus systems in the EU, including different funding schemes in EU Member States and at EU level. Based on the recently accomplished ZeEUS (Zero Emission Urban Bus System) project, the presentation will provide insight into promotion and funding programmes for the procurement of zero-emission buses, covering different national legislation and taxation systems across Europe. { https://www.uitp.org/

TRANSITION TO ELECTRIC BUSES AND BOATSMikkel Krogsgaard Niss • City of Copenhagen

Transition to Electric Buses and Boats (TEBB) aims to procure 100 % zero-emission bus and ferry operation in Copenhagen. So far, the project has developed an ownership model and framework procurement for urban charging equipment in close partnership with municipalities, public transport authorities and industry organisations. The first procurement of zero-emission operation has been awarded for buses and ferries. In addition, 4 urban chargers, 41 electric buses and 5 electric ferries will be in operation by winter 2019/2020. { https://www.eib.org/attachments/documents/tebb-factsheet-en.pdf

REMOURBAN AND TRIANGULUM Rosa Huertas • Municipality of Valladolid – Peter Saunders • Nottingham City Council – Damian Wagner • Fraunhofer Institute

The SCC1 Lighthouse Consortia are implementing more than 125 mobility projects in 84 European cities. This session will focus on the pains and gains from piloting and up-scaling urban mobility within the European Smart City Lighthouse Projects. The cities of Nottingham, Valladolid and Cologne will share their lessons learned. Funded under Horizon 2020.{ http://www.remourban.eu/{ https://www.triangulum-project.eu/

FINANCING ENERGY EFFICIENCY IN THE PUBLIC SECTOR

PARIDEDanilo Di Pietro • AGENA

‘The political commitment to technical and legal management has lit 32 municipalities with 53 000 more efficient public lighting points.’ ● Danilo Di Pietro

The Province of Teramo and the local energy agency AGENA retrofitted the public lighting facilities of 32 municipalities. The project organised joint procurement of energy performance contracts, which resulted in investments of EUR 30 million and 70 % guaranteed savings, thereby improving safety and quality of life for 239 000 of the province’s residents. Funded under Intelligent Energy Europe. { http://www.provincia.teramo.it/paride

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PM4PMRajko Leban and Irena Pavliha • GOLEA Energy Agency

Golea energy agency is bundling together energy efficiency projects from over 30 municipalities and other public bodies. Projects cover the renovation of public buildings, district heating, street lighting, transport and public utilities. The investment programme includes 73 projects with a potential volume of EUR 54 million using various sources of funding, including Energy Performance Contracting (EPC). So far, EUR 26.2 million of investment has been agreed under EPC contracts. Funded under EIB-ELENA. { https://www.eib.org/attachments/documents/pm4pm_project_factsheet_en.pdf

NEWLIGHTJulije Domac • North-West Croatia Regional Energy Agency (REGEA)

‘Our NEWLIGHT project inspires a focus on buying a service and not products. It is cheaper, cost effective and clever.’ ● Julije Domac

Recent activities in Croatia to finance the energy retrofitting of public buildings and renovation of street lighting demonstrate the need to combine private capital and EU/public funding.This presentation builds on REGEA’s experiences from the recently completed NEWLIGHT project, supported by EIB-ELENA. It triggered EUR 20 million and undertook the energy retrofitting of public buildings through European Structural and Investment Funds (ESIF), with over EUR 30 million of investment achieved.{ http://regea.org/en/

SUSTAINABLE COMMUNITY INVESTMENTNick Clark • Ore Valley Housing Association – Ralph Pratap Singh • EEE-F

‘Our project illustrates that sustainable developments can have a significant impact on improving our communities and the lives of our residents.’ ● Nick Clark

Ore Valley Housing Association (OVHA) in Scotland commissioned a community project in August 2017, marking the operational phase of a GBP 4.6 million renewable energy (small-scale onshore wind) and energy efficiency (boiler upgrades in social houses) investment programme.It was financed by Cardenden Heat and Power, a subsidiary of OVHA, and the Scottish Investment Bank. The profits of the wind project will be used to support a community fund and other endeavours in the area. { https://www.orevalleyha.org.uk/news/business-development/

ore-valley-housing-association-closes-on-4-6million-green-energy-project

BUNDLE-UPNuno Brito Jorge • GOPARITY

BundleUP will develop Ponto Energia, which will bundle projects according to specific characteristics (investment size, technology and geography). It will use the framework and consolidated procurement procedures that are currently available to provide projects with scale, improve bankability and investor-trust, and result in a faster time-to-market. The action aims to develop at least 58 Portuguese sustainable energy projects, with total estimated investments of EUR 49.9 million. Funded under Horizon 2020.{ http://eupportunity.eu/en/ponto-energia

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FINANCING HOME RENOVATION

OKTAVEEric Gaspard • ADEME

‘OKTAVE led to the creation of a public-private company with EUR 3 million equity capital, which offers householders an integrated global renovation service. Already, 210 renovations have started with a 40 to 75 % energy reduction.’ ● Eric Gaspard

The OKTAVE project aimed to accelerate ‘deep renovations’ of individual homes in the French region of Grand Est. The regional government set up an energy service company (ESCO) with EUR 3 million equity capital. It also developed a network of local one-stop-shops to give assistance to home owners in their renovation projects, and a network of 235 building companies trained for deep renovation. The project triggered energy investments of EUR 10 million by assisting 488 homeowners, including 56 global renovations and 160 step-by-step renovations. Funded under Intelligent Energy Europe. { https://www.oktave.fr/

HOUSEENVESTDaniel Encinas • AGENEX

HousEEnvest aims to demonstrate the viability of a new financing scheme for the full energy renovation of multi-family houses in the Spanish region of Extremadura. This will involve a combination of innovative tools for standardisation, pooling, bundling and de-risking. This investment scheme focuses on a regional market (condominiums with diesel central heating) with potential investment needs of over EUR 35 million. Funded under Horizon 2020. { https://www.agenex.net/en/126-references-and-projects/1516-houseenvest

INNOVATEJana Cicmanova • EnergyCities

INNOVATE aims to motivate homeowners in 11 target regions to carry out deep energy retrofits of private residential buildings (single-family houses and condominiums).In order to facilitate the process, the consortium developed and rolled out attractive energy retrofit packages, ideally offered in one location as a one-stop-shop. The cumulative investments expected to be mobilised amount to some EUR 37 million. Funded under Horizon 2020.{ http://www.financingbuildingrenovation.eu/

BE REELRoel Vermeiren • Vlaams Energieagentschap

‘Co-creation by central and local actors is essential in order to achieve scalable and effective solutions for the deep renovation of residential buildings.’ ● Roel Vermeiren

The BE REEL project is supporting the regional renovation strategies 2050 for Flanders and Wallonia, targeting 4.1 million deep renovations of residential buildings. The aim is a significant, long-lasting increase in the renovation rate from 1 to 3 % per year, and an improvement in the energy performance of existing properties by at least 75 %. BE REEL started in 2018, and EUR 300 million of investment has so far been planned for 8 500 deep renovation projects. Funded under LIFE.{ https://www.be-reel.be/

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REFURBVirginia Gomez Onate • VITO

The REFURB project focused on renovations in the private housing sector and tapped into the one-stop-shop concept. REFURB tackled the complex interplay of barriers through coordinated processes, organisation, innovation and optimisation, while offering concrete solutions or renovation packages that appeal to potential customers in the private residential sector. Funded under Horizon 2020. { http://www.go-refurb.eu/

INNOVATIVE FINANCING SOLUTIONS

EAMAPLuca Bertalot • European Mortgage Federation – European Covered Bond Council

‘The Energy Efficient Mortgages Initiative reflects the strong commitment of the mortgage industry to support a clean energy transition and foster sustainable growth to the benefit of all.’ ● Luca Bertalot

The Energy Efficient Mortgages Initiative (EEMI) aims to create a standardised European framework for mortgage loans that incentivises homebuyers to improve the energy efficiency of their properties, or buy homes that are already energy efficient. The EEMI framework and definition are the result of more than two years of extensive and wide-ranging engagement and consultation with banks, built-environment professionals and consumers. The initiative is currently supported by 42 lending institutions that are signed up to implement the guidelines on energy efficient mortgages, collectively constituting a critical mass in the market. At the end of 2018, these lending institutions represented 55 % of mortgages outstanding in the EU, which is equal to 25 % of EU GDP. Funded under Horizon 2020. { https://eemap.energyefficientmortgages.eu/

PARIS GREEN FUNDClémentine Baju • City of Paris – Stéphane Villecroze • DEMETER

‘Paris Green Fund is an inspiring example of public-private partnership in private equity for the ecological transition. A majority of private institutional and industrial investors have joined the City of Paris’ initiative for the ecological transition of large cities.’ ● Stéphane Villecroze

Paris Green Fund is a EUR 200 million growth fund started by the City of Paris to finance European SMEs that provide sustainable solutions for major cities. The fund is mostly supported by private institutional and industrial investors. Priority sectors are green buildings, smart mobility, renewables, energy efficiency, air quality and the circular economy. { https://demeter-im.com/en/tag/paris-green-fund-en/

QUALITEEKlemens Leutgöb • E7

The QualitEE project’s overall objective is to scale up responsible investment in energy efficiency services (EES) in the European construction sector. The project develops national quality assurance schemes for EES, which are built on technical and financial quality criteria. It is expected that a widespread application of the quality assurance schemes will ease the financing and re-financing of EES projects. Funded under Horizon 2020. { https://qualitee.eu/

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RAMCC TRUST FUNDFlorencia Mitchell and Ricardo Bertolino • Red Argentina de Municipios frente al Cambio Climático

‘Standardise and aggregate small, local projects to scale them up, setting precedents for collective technical, administrative and financial support to local governments.’ ● Ricardo Bertolino

The Argentine Network of Municipalities against Climate Change (RAMCC) established the first Argentinian trust fund formed of local governments and dedicated exclusively to managing funds collectively to implement local climate action plans. Through this new tool, local administrations aggregate relatively similar investment projects into a ‘bundle’ that can be considered a single investment project, improving the possibility of accessing larger-scale funding and cost savings. The first project developed under this concept is one to replace conventional street lighting with LED lighting in 42 municipalities. { http://ramcc.net/en/posts/view/509/ramcc-s-trust-fund

RESFARMJulio Pombo Romero • Unions Agrarias

RESFARM aimed to develop capital market financial instruments that were suitable for attracting funds for on-farm renewable energy systems (RES), such as green bonds. As a result, a framework for on-farm RES securitisation has been produced, and a pool of projects is being developed to serve as a pilot for the financial instrument. RESFARM’s technical and contractual standards allow for the transformation of illiquid on-farm RES assets into tradable securities. By early 2019, over EUR 40 million in investments in new installations were already under way in Spain under RESFARM. Funded under Horizon 2020. { http://resfarmproject.eu/en/

FINANCING CLIMATE ADAPTATION

ATHENS RESILIENT CITY AND NATURAL CAPITALYannis Evmolpidis • City of Athens

‘Blending financing for urban resilience and energy efficiency is possible through EU instruments and technical assistance programmes.’ ● Yannis Evmolpidis

The city has observed that with a small rise in its temperature, there has been an increase in deaths and air pollution, and a drop in retail sales. Using urban green areas and green corridors, the city aims to reduce ground temperature by a few degrees Celsius.The Athens Integrated Territorial Investment and resilience project includes a number of interventions in the sectors of urban rehabilitation, waste management, economy and tourism, social solidarity and development, information technology and services, energy upgrades, culture and public spaces, and buildings. So far, EUR 20 million has been invested and another EUR 170 million is expected. { https://www.eib.org/en/projects/pipelines/pipeline/20170118

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GREEN ROOFS HAMBURGBrigitte Köhnlein • Hamburg Ministry for Environment and Energy

‘To promote green roofs, a city needs a comprehensive strategy: financial incentives should be combined with urban planning, communication and scientific support.’ ● Brigitte Köhnlein

Hamburg’s goal is to be a greener and more liveable city. To achieve that, the Hamburg Senate’s Green Roof Strategy has been in place since 2014. The local Ministry of Environment and Energy has created funding guidelines, for which the Hamburg Investment and Development Bank had a budget of EUR 3 million to use to fund applications for voluntary green roof projects on new buildings or in renovations.In 2018, the Hamburg Senate increased funding for green roofs on public school buildings by another EUR 7.5 million. Overall, the city of Hamburg has invested EUR 10.5 million in green roofs. It is important that, at city level, there is a binding political decision, involvement of stakeholders and coordinated activities between city departments. { https://www.hamburg.com/residents/green/11836394/green-roofs/

SEC ADAPT AND EMPOWERINGBarbara Di Pietro • Sviluppo Marche S.r.l

‘Capacity building and multi-level governance remain strategic tools for strengthening local authorities in sustainable energy and climate adaptation planning towards 2030 objectives.’ ● Barbara Di Pietro

SEC ADAPT and EMPOWERING projects contribute to a multi-level governance and targeted capacity-building programme (for climate change mitigation and adaptation) for local authorities. The 2 projects designed peer-learning activities and an innovative strategic planning model, which enable more than 300 regional and municipal policymakers to deliver 78 Sustainable Energy and Climate Action Plans and shape 6 regional energy strategies for 2050 in 6 EU countries (Marche in Italy, Andalusia in Spain, the North-East Region of Romania, Istria in Croatia, Borsod-Abauj-Zemplen in Hungary and Central Macedonia in Greece). Funded under LIFE and Horizon 2020. { http://www.lifesecadapt.eu/it/{ https://www.empowering-project.eu/

DICCA AND URBAN LAKEDominik Webel and Hannes Uhl • City of Vienna

‘Based on the Danube Island, LIFE DICCA is developing multipliable strategies for making urban ecosystems more resistant to the effects of climate change.’ ● Hannes Uhl

LIFE DICCA will demonstrate a strategy for adaptation to climate change in a large city, which has been undertaken on the Vienna Danube Island and will be replicable in cities with similar geographical settings. The main aim is to increase the climate change resilience of ecosystems on the Danube Island. Project actions will protect and conserve biodiversity, as well as ecological stepping-stone functions in areas that are used intensively, by providing guidance to users and introducing measures to revitalise ecosystems. The projects also combine protection against floods with increased recreation opportunities and climate change mitigation. Both projects are funded under LIFE.{ https://www.wien.gv.at/umwelt/gewaesser/donauinsel/dicca/{ http://ec.europa.eu/environment/life/project/Projects/index.cfm?fuseaction=search.

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URBAN ROOFS AND URBAN ADAPTJohan Verlinde • City of Rotterdam

The main objective of URBAN ADAPT is to demonstrate an innovative, participative and multi-functional approach to implementing urban climate adaptation strategies on a large scale. The Rotterdam city district of Zomerhof (ZoHo) and the river Nieuwe Maas are used as showcases. These representative settings make the results widely applicable and reproducible. URBAN ROOFS will encourage real estate developers and building owners to invest in climate change adaptation. This new approach will see the local government acting as a stimulator and facilitator. The project will trial the use of multi-functional roofs that have greater benefits for property owners than traditional green roofs. Both projects are funded under LIFE. { https://www.rotterdam.nl/english/urban-roofs/{ https://www.urbanadapt.eu/

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LIST OF EXHIBITORS

Covenant of Mayors { www.eumayors.eu

Executive Agency for Small and Medium-sized Enterprises (EASME), Horizon 2020 Energy and LIFE { https://ec.europa.eu/easme/en

European Investment Bank, ELENA { http://www.eib.org/en/products/advising/elena

Deutsche Bank, European Energy Efficiency Fund { https://www.eeef.eu

European Reconstruction and Development Bank { https://www.ebrd.com

European Innovation Partnership on Smart Cities and Communities { https://eu-smartcities.eu/

ManagEnergy { https://www.managenergy.net/

BUILD UP { http://buildup.eu/en

CLIMATE-KIC { https://www.climate-kic.org

International Urban Cooperation { http://iuc.eu/

Joint Research Centre { https://ec.europa.eu/jrc/en