Innovative financing solutions are essential to tackling climate change, above all in the energy sector. Although sustainable energy systems are generally cheaper than conventional systems in the long run, their upfront costs can be prohibitively high.

One solution to this is the Lighten the Energy Bill initiative developed by Belgian-based EcoNation. Lighten the Energy Bill promotes a unique financing mechanism that absorbs the entire upfront cost of installing sustainable lighting systems. Once installed, customers are charged in monthly installments that are guaranteed to be lower than their original electric bill.

This project won the Momentum for Change award in 2014, under the Financing for Climate Friendly Investment pillar. Momentum for Change is an initiative spearheaded by the UN Climate Change secretariat to shine a light on the enormous groundswell of activities underway across the globe that are moving the world toward a highly resilient, low-carbon future. Momentum for Change recognizes innovative and transformative solutions that address both climate change and wider economic, social and environmental challenges. The Financing for Climate Friendly Investment Pillar recognizes successful and innovative climate-smart activities. This focus area is implemented in partnership with the World Economic Forum