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Ghent crowdfunding platform realising climate change adaptation projects

    

Source: Annamarie Rizzello

Name

Ghent

Country

Belgium

Inhabitants

251,984   (2014)

Climate Impact(s)

    

    

Adaptation measures financed

  •   Urban farming
  •   Green garden facades

Financing source(s)

       

Private   investors

       

Municipality   budget

Financing type(s)

Direct funding   and subsidy for adaptation measures

Financing mechanism(s)

Crowdfunding   platform and fund for subsidies

Summary   Description: Ghent has developed a   crowdfunding platform that allows citizens to propose and finance their ideas   for the city. Today, two projects addressing climate adaptation have been   successfully realized with support of the ‘crowdfunding.gent’ platform: 1) urban   farming for residents of a social housing quarter, 2) edible streets by   covering the facades along the streets with planters.  Any citizen of Ghent or person with an idea   located in Ghent can submit a project. He/she needs to provide a short   description and a funding goal for the project. The project becomes visible   on the platform once it is approved by the platform manager, who is appointed   by the city. He checks whether the project proposal meets a set of   pre-defined requirements. People who provide financial backing to a project   are known as ‘supporters’. Their minimum donation is €5. The donated amount   per idea is viewed as an indicator of community support; only the projects   with sufficient community support will become financially viable. ‘Crowdfunding.gent’   additionally offers initiators the opportunity to apply for a municipal   subsidy of the project. The city has provided a total fund of €55.000 per   year specifically assigned to the crowdfunding platform. Per project the   maximum amount of municipal subsidy that can be obtained is €5.000. The   request for municipal funding needs to be indicated in the original   application form. Initiators can choose to apply for 25, 50 or 75% of   municipal funding. To be eligible for this subsidy, the pre-defined amount of   co-funding first needs to be raised.

Main Challenge for implementation: The use of crowdfunding as a policy   instrument implies acceptance of the fact that the exact outcome cannot be   controlled.

Main success factor for implementation: The appointment of   a policy officer to manage the platform and support from an existing   crowdfunding platform developer.

Contact

Policy   Participation office, City of Ghent

E-mail:

info@crowdfunding.gent

Long version on Climate-ADAPT:

https://goo.gl/djcBXy

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