The Leuven Climate Fund is taking shape. Filip Coenen, Financial Architect for the climate transition at Leuven 2030, outlines the latest developments and looks ahead with confidence. “What stands out to me is how all parties involved – investors, the city and project partners – are gradually moving closer to one another,” Filip explains. “Investors are keen to come on board once the first projects are tangible. Projects gain momentum as soon as investors commit. And together with the city, we are building a framework that makes this cooperation possible. We are clearly at a point where things are starting to move.”

“We are currently working on a number of pilot projects that we want to finance through the fund, to show that it can be done. But as soon as these projects take off, we also want to be ready with new ones,” he adds. “Getting those first projects investment-ready was a challenging but essential step. Once we really move out of the starting blocks, it will be at full speed.”

In the meantime, legal and tax experts have been appointed to finalise the full legal structure of the Leuven Climate Fund. Different corporate structures are being assessed alongside detailed risk analyses, so that partners such as the City of Leuven, Leuven 2030 and investors have a strong, clear framework within which they can define their roles and work together for maximum impact.

‍

Spread the word

Panel discussion at Belgian Impact Finance Day

Filip Coenen: “We believe this Climate Fund can become a powerful tool to accelerate the climate shift. That is why we are now presenting and testing our approach wherever possible with the wider financial sector: investors (such as pension funds and insurance companies) and banks. In November, for example, we took part in an event organised by Impact Finance Belgium, a national membership organisation that aims to increase the share of impact capital in Belgium – investments that combine financial returns with social and environmental impact.”

“There, we learned that impact investing is clearly gaining ground in Belgium: 14% of assets under management are now directed towards positive impact. Interest is growing. We also met other investors, social entrepreneurs and policymakers, and contributed to exploring the challenges and possible solutions around impact finance. It is a valuable source of inspiration and connections – the people you meet there may help bring Leuven projects to life in the future.”

“It also quickly became clear that providing capital alone is not enough to set things in motion: everyone needs to pull in the same direction, and risks and responsibilities must be shared.”

The session was introduced and moderated by Eglantine Eeckhout (Inclusio Invest). The panel included Filip Coenen (Leuven 2030), Frédéric Madry (Impact Finance Belgium), Catherine Vangilbergen (KBC) and Ryan Jude (Green Finance Institute).

Panel discussion at AFCCRE in Lille

Filip Coenen: “Recently, Leuven 2030 also took part in a panel discussion at AFCCRE (Association française du Conseil des communes et régions d'Europe) in Lille, an organisation that supports exchange between European institutions, local authorities and regions. Together with cities such as Dijon and Strasbourg, and with the European Commission, we presented on how cities can continue to invest in protection, renovation and sustainable infrastructure, even when resources are scarce. Leuven 2030 highlighted how smart, innovative financing – such as blending public and private funding and sharing risks – helps move projects with strong societal value forward.”

“Other cities recognised this challenge,” Filip continues, “and stressed the importance of cooperation to make regions stronger and more future-proof. The European Commission confirmed that good preparation, simple models and European support are crucial. The common thread: innovative financing, like what the Leuven Climate Fund aims to deliver, can give cities and local authorities greater resilience without putting extra pressure on their budgets.”