Innovation lays in the catalysing role of a local government, the CITYnvest coordinator says at the CEMR Congress

CITYnvest project was present at the CEMR Congress 2016 in Nicosia, Cyprus. Elise Steyaert, the project coordinator, was invited to speak during the session on innovative forms of urban development, on the 21st of April.

This session placed attention on introducing and implementing innovative financing models, as well as redefining and improving existing financing schemes for Local Governments in order to mobilise additional private investments.

Elise Steyaert highlighted that energy efficiency investment projects are operating in an immature market, where transaction costs and risk perception are still very high. Local governments have a leading role to play in triggering wide-scale renovation programs in buildings and closing the energy efficiency investment gap.

"Innovation does not only lay in the nature of the financial product or instrument itself but in a catalizing role of a local government, which sets up a new partnership including SMEs, citizens and mobilize the whole value chain”, says the CITYnvest coordinator.

One of the case studies featured by CITYnvest was also presented during the event by Elodie Denizart, from Representation of the Hauts-de-France Region to the EU. The Picardie Pass Renovation is a financial innovation model focusing on a third part investment scheme. The Hauts-de-France Region decided to implement a dedicated public service for energy efficiency, which provides assistance in renovating private home houses.

More information about the model and detailed analysis of the model can be read in the CITYnvest resources library. The PPT presentation by Elise Steyaert can also be downloaded from our website.

Photo credits © CEMR.