Due to the considerable investment requirements, the financing of initiatives and investments represents a challenge for climate and environmental protection, especially at municipal level. This also applies to Munich, which aims to become climate-neutral by 2035.
In recent years, the EU and its member states have launched action plans and strategies in the field of sustainable finance. They are designed precisely to help channel more money from the financial market into important transformation tasks such as climate protection and socially just development. These action plans and strategies can be taken up at municipal level in Munich in order to strengthen and accelerate this development with coordinated measures.
This is the basic idea behind the project turnaround money, in the context of which a proposal for a Proposal for a Local Sustainable Finance Action Plan – Munich was developed together with Munich stakeholders from business, administration and civil society. It is not just about the municipal budget, but about mobilising as many finances as possible from all companies and people in Munich, with the support of the players in Munich’s financial sector. And as one of the top five financial centres in the EU, Munich has a special opportunity here, but also a responsibility.
The publication first introduces the turnaround money project and then explains the action plan and its basic function. This is followed by an overview of the possible measures developed in the dialogue process, which are also described in more detail in fact sheets. A description of what concrete next steps could be rounds off the publication.
Similar action plans were also developed as part of the project for the city of Mannheim, the Flanders region (Belgium) and the city of Križevci (Croatia). The publication was part of the EURENI project and was funded by the BMUV as part of the EURENI programme.
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