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BwB welcomes NetZeroCities!

BwB partners with 33 different organizations from 13 countries to form a consortium that will help deliver 30 NetZeroCites across Europe. NetZeroCities (NZC) is part of the Horizon 2020 Research and Innovation Programme of the European Union's Green Deal. 75% of EU citizens live in cities accounting for more than 65% of the energy consumption and more than 70% of CO2 emissions worldwide. Cities are right at the heart of the climate change issue and cities have the ambitions to go further—but few have declared readiness to be climate neutral by 2030. NZC will support them by developing and promoting new and existing tools, resources, and expertise into a one-stop platform accessible to all cities through an online portal (Mission platform).

BwB leads the finance workstream, focusing on innovative structures, blended capital solutions and technical assistance. Our role is to help cities build capabilities and deepen their knowledge to attract capital and deliver effective financing for their climate transition.

Whilst initial support for addressing climate ambitions for cities will come from many different EU funding programmes and in cooperation with the European Investment Bank Group and National Promotional Institutions, it is important to note that such financing will not be sufficient to achieve climate targets. Significant parts of the financing will need to come from the private sector for efficient blended structures to be put in place. A study from Material Economics shows that only 17% of funding is expected to come from cities and the vast majority will come from the private sector.

NZC will help cities face and address the various barriers and challenges that come with going climate neutral. NZC has two clear mission statements:

1-Deliver at least 100 climate-neutral and smart European cities by 2030

2-Ensure that these cities act as experimentation and innovation hubs to put all European cities in a position to become climate-neutral by 2050

NCZ will help co-create Climate City Contracts that will involve citizens, stakeholders and city authorities.

Our contribution will be led by Asen Charliyski, Global Head for Sustainable Cities Finance with support from CEO Rupesh Madlani and Managing Directors Chris Smith and Phil Griffith. We will recommend innovative blended finance structures and support cities to raise the required capital for their climate ambition to materialize. The support also encompasses knowledge transfer and development of capabilities for cities in support for project preparation.

Please direct any questions or requests for additional information to or your usual BwB contact.


Bankers  without Boundaries, an innovator in finance, is a not for profit powered by former investment bankers to assist high impact projects that benefit the environment and social good. BwB works with local and sub- and national governments, cities, institutions, and foundations to mobilize capital advisory and research services. BwB applies financial concepts and structuring to public projects to align them with the investment needs of capital markets, thinking about risk reduction, scaling and generation of financial returns alongside broader positive co-benefits and impacts. To learn more about Bankers without Boundaries and our work, visit


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