Smart investments, shared benefits

At first glance, building a bike lane may seem like a small intervention – and mostly a cost. But look closer, and the gains multiply: cleaner air,  exercise, less noise, safer streets for children, and lower CO₂ emissions. One investment, five wins.

Investing in climate-positive projects equals investing in a city that remains liveable for generations to come. What may seem like a cost upfront often brings a much greater return in public value. That message was at the heart of a session led by Katrien Rycken, Director of Leuven 2030, during the NetZeroCities conference in Vilnius in May, where she shared Leuven’s approach to measuring and tracking the impact of the Leuven Climate City Contract.

“A climate shift requires choices, and those choices require investment. In Leuven, we want to clearly understand what those investments bring us – not just in terms of CO₂ reduction, but also in risk prevention, public health, social equity and economic resilience.” — Katrien Rycken, Director of Leuven 2030

That’s why Leuven is working with SWECO, with support from NetZeroCities, on a new impact framework. The tool will help us assess breakthrough projects – such as depaving initiatives, circular hubs or sustainable mobility – across four dimensions: ecological, social, economic, and health. All calculations are based on scientific sources and literature. The result? A clear picture of which projects deliver the greatest return per euro invested – and what we stand to lose if we don’t invest.

This perspective is vital – not only for policymakers, but also for impact investors, banks, insurers and funding bodies. It helps them choose projects that strengthen cities, tackle inequality, support jobs, safeguard prosperity and improve public health.

“What we’re developing in Leuven also serves as inspiration for other cities,” says Jessie Van Couwenberghe, Mission Manager for the City of Leuven. “We share our insights across the Mission Cities network – cities working towards climate neutrality by 2030. By including public value in the equation, we can make smarter choices. Every euro counts – and smart decisions pay off.”

The tool – currently in Excel format – will be tested extensively over the coming months and refined where needed. In time, it will support the creation of a Leuven Climate Fund, bringing together both financially profitable projects and those with strong public value to make funding easier and more effective.

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