Did you know that Europe faces major challenges in achieving its carbon emission targets and will require massive mobilisation of private funds? Luckily, public authorities can encourage private investment by using public funds to create financial instruments that can leverage private investment and overcome market failures.
A number of these instruments have been tested and used and are ready to be replicated throughout Europe, and public authorities will need to be ready to implement financial instruments in their operational programmes for the next financial period of 2021-2027. Therefore, Interreg Europe organised a Policy Learning event in Brussels, on the 20th of June, to enable Interreg Europe project partners to exchange experience and knowledge in the area of financing options for large-scale energy efficiency refurbishments and other low-carbon economy investments.
According to Caitriona Strain, CLEAN Project Leader, attendees could hear about latest developments regarding financial instruments at EU level including changes in the next financing period; examine setups for diverse types of financial instruments; learn how financial instruments have been set up step by step in some EU regions successfully and understand what legal aspects need to be taken into account, among others.
CLEAN project partners from Normandy (France) and Crete (Greece) also attended the workshop.