The European Commission announced the launch of the new Climate City Capital Hub, a new international funding source, at the Cities Mission 2024 conference held on 25 and 26 June in Valencia. The aim of the project is to strengthen cities within the EU mission of climate neutral and smart cities.

Thanks to the EU Cities Mission Label, cities will have access to financial advice in cooperation with the advisory services of the European Investment Bank (EIB), to structure their financial needs in order to understand the different ways of financing projects, including pooling projects and launching projects for a spectrum of capital providers. These include public and private sector lenders and investors, such as philanthropic and corporate capital, as well as innovative financing options such as crowdfunding and sustainability bonds. The hub will also support the deal-making process. (Samuel Balassa, more at ceenergynews.com)