Implementing sustainable measures from climate plans, through innovative financing schemes: new PROSPECT handbook on citizen financing

This handbook, developed by the H2020-funded PROSPECT project, provides step-by-step guidelines on how local projects can be financed through citizen financing and what can be learned from best practices and case studies related to energy cooperatives and crowdfunding.

It was also presented at the Covenant of Mayors C-Track 50 webinar in June 2020: recording and presentations are available, especially PROSPECT’s.

Citizen Finance is not a standardized mechanism for funding climate action projects and initiatives,rather it could be seen in terms of a practice. However, there have been several examples where citizen finance has been used for adequately funding Sustainable Energy and Climate Action projects. In broad terms, Citizen Finance is a form of financing instruments where citizens pool their financial resources to fund initiatives that create common goods. The two most common and relatively advanced forms of Citizen Finance are: (1) Crowdfunding and (2) Financing through cooperatives. The handbook also provides step-by-step guidelines on how projects can be financed and what can be learned from the best practices and case studies in the European Union.

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