Cities in Action: Almada’s Less Carbon Climate Fund
Almada’s Local Development Strategy, entitled “Almada+: Sustainability, Solidarity and Eco-Efficiency”, comprises a number of initiatives, including the “Almada Less Carbon Climate Fund”, which will reduce Almada’s carbon footprint by financing energy efficiency and renewable energy investments.
The Fund is:
- successfully financing the implementation of Almada’s Sustainable Energy Action Plan,
- contributing to sensible reductions in energy consumption and carbon emissions,
- fostering a green economy model in Almada, and
- accelerating the shift to a low-carbon city.
The Almada Less Carbon Climate Fund ensures that costs associated with carbon emissions from the City Council’s activities are internalized and contribute to their compensation. The Fund is a voluntary financial scheme supported by a simple economic valuation of the carbon emissions generated by the City Council’s regular activities.
The Almada Less Carbon Climate Fund has enabled different municipal departments to improve their performance without using their own budget lines. Moreover, Almada has been successfully using the Fund to complement national and European funding, increasing the kind of energy efficiency investments that result in a clear net financial benefit for the municipality.
Added benefits include improved resource efficiency, low energy bills and management costs, and enhanced local green economy activities.
After six years, the Fund is now being redesigned with a revolving nature. This means that the cost savings from the energy efficiency gains will directly feed into the Fund, reducing municipal financial support.
For more information, please visit the City of Almada website.
