Crowdfunding as a driver for the EU's energy transition - What difference can it make?

The production and use of energy account for more than 75% of the EU’s greenhouse gas emissions. This highlights the urgency of reducing carbon emissions in the energy sector, a crucial step in achieving the 2030 climate goals and the overarching objective of carbon neutrality by 2050 (European Commission).To guide the EU's shift towards a more efficient and environmentally friendly energy system, one promising approach involves the active involvement of a portion of the European population, coupled with crowdfunding for energy transition initiatives. However, according to the European Commission, currently the EU market for crowdfunding is underdeveloped compared with other major world economies.Some public and private projects, when packaged in an engaging and well-known context, can partially finance the energy transition through funding support from the general public. Such projects offer a path for both the general public and stakeholders to engage in climate action.In the case of professional football, a Horizon 2020-funded project, GREENFOOT, develops and implements crowdfunding schemes for renovating stadiums, practice facilities, and related buildings with energy efficiency (EE) and renewable energy (RES) measures.Re-listen this EURACTIV Virtual Conference to discuss the potential of crowdfunding for accelerating the energy transition in the EU. Questions to be addressed include:- Can crowdfunding play a role in bridging the energy transition funding gap?- Have crowdfunding patterns changed due to the COVID-19 pandemic and the cost of living crisis?- How can we encourage crowdfunding among communities, in particular for green initiatives?This project has received funding from the European Union’s Horizon 2020 Research and Innovation Programme under Grant Agreement No 893858.This website reflects only the author’s view and the Research Executive Agency or European Commission is not responsible for any use that may be made of the information it contains.