The challenge
Implementing ambitious local climate action plans is paramount in the fight against climate change.
More than two third of the local authorities in Flanders (Belgium) have signed the Covenant of Mayors (CoM) committing to reduce their greenhouse gas emissions by at least 20% by 2020 and/or 40% by 2030. Many of these local authorities have committed to look beyond the CoM requirements, aspiring to achieve climate neutrality by 2050, sometimes even earlier.
Flemish CoM signatories have prepared ambitious local climate action plans containing a vast array of emission reduction measures targeted to different stakeholders. Given the sheer investment volume, these local climate action plans together could amount to a powerful economic recovery plan. Unfortunately, most of these plans lack a comprehensive and robust financial plan.
And without funding, even the best plan … is nothing more than a plan: no investments, no emissions reduction, no economic recovery.
FALCO addresses this problem by developing a financing solution to accelerate energy-saving investments and achieve the implementation of ambitious local climate plans.