PRESS RELEASE | 21 maart 2024

Leuven - The European Commission has officially awarded Leuven with the EU ‘Mission City’ label in recognition of its groundbreaking, city-wide project to accelerate Leuven’s transition towards climate neutrality. The label was officially presented in Brussels following the submission of the first Leuven Climate City Contract to the European Commission in November 2023. After a thorough assessment, the European Commission confirmed that the Leuven Climate City Contract met all required quality standards. The label will help us find the necessary funding. Leuven is rightly proud to be the first Belgian city to receive this label.‍

In 2022, the European Commission selected Leuven, along with about 100 other European cities, for the ‘100 Climate-Neutral and Smart Cities by 2030’ mission - one of the ambitious initiatives covered by the European Green Deal. “At the end of last year, we submitted our Climate City Contract, including a comprehensive and concrete action plan, commitments, and a financial strategy to ensure a socially just climate transition by 2030," explains David Dessers, Alderman for Mobility, Climate, and Sustainability of the City of Leuven. "Over the past three months, the European Commission has assessed our plan. The result:  Leuven passed with flying colors and is the first Belgian city to receive the EU Mission Label. Needless to say that we are extremely proud of this achievement. This label is an additional incentive to push forward. Moreover, it will help us find the much-needed funding.”

Leuven is the first Belgian city to receive the EU Mission Label. It will help us find the much-needed funding for our climate transition.

Alderman Dessers emphasizes that receiving this label is the factual confirmation that the Leuven Climate City Contract meets the strict standards set by the European Union for its Mission Cities. The label acts as a powerful certification that will boost the financial sector’s trust in our breakthrough projects. This confidence is crucial for securing the funding they need."

Unlocking Existing Funding and Developing New Financial Strategies

By obtaining the EU Mission Label, Leuven will receive additional support from the NetZeroCities Consortium, which assists Mission Cities in their climate transition. One of the 17 seconded ‘City Finance Specialists’ will support Leuven in further developing its investment strategy, in particular by facilitating access to existing EU and national funding programs, creating compelling business cases for breakthrough projects. He can also serve as an intermediary in negotiations for external project financing arrangements. In short, the financial expert will act as a bridge between the Leuven Climate City Contract and financial institutions.

Katrien Rycken, Director of Leuven 2030: "Both Leuven 2030 and the City of Leuven will continue to explore innovative financing strategies. We have already taken several concrete steps in this direction. In cooperation with Impact Finance Belgium, we will soon organize a big event in Leuven, titled 'Financing the Climate Transition.'  This event, which will take place on June 11 as part of Belgium's EU Presidency, will bring together about 75 banks, impact investors, funds and local project owners, among which the city of Leuven, KU Leuven, UZ Leuven, Imec and Wienerberger. The goal is to develop innovative and socially just funding strategies for the many concrete breakthrough projects included in the Leuven Climate City Contract. Implementing these projects will put Leuven on a firm path towards climate neutrality, ensuring the long-term prosperity and well-being of our city."

This EU Mission Label opens doors for Leuven, and we will fully capitalize on the opportunities it offers in the coming years.

"This EU mission label opens doors for Leuven, and we will fully capitalize on the opportunities it offers”, continues Katrien Rycken, Director of Leuven 2030. "Not only through European support but also by working hand in hand with the financial sector."

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