The Less Carbon Climate Fund

  • Información general
  • Nombre del IF:The Less Carbon Climate Fund
  • País:Portugal
  • Región:Almada
  • Descripción del modelo
  • Titularidad:Público
  • Autoridad de gestión:

    Almada’s municipality

  • Gestor del Fondo:Almada’s municipality
  • Duración:


  • Tamaño del fondo (Fondos totales disponibles en EUR):


  • Fuente de financiación:

    (GRANTS) EU Structural Funds / Local Funding

  • Tipo de proyecto:Eficiencia energética + Energías renovables
  • Subtipo de proyecto:Gestión de iluminación, Alumbrado público, Energía solar térmica, Biomasa
  • Descripción del IF:

    Almada’s municipality range of competences and responsibilities imply the development of activities aiming at reducing energy consumption and greenhouse gas emissions (GHG).  In 2009, Almada’s City Council created the Almada Less Carbon Fund in order to reduce its carbon footprint via investments in energy efficiency and renewable energy. The financial sources of the fund are based on a simple economic valuation and monetisation of the GHG generated by the City Council’s regular activities which feed the fund. The fund is a voluntary scheme of the municipality and it is a one-of-a-kind initiative in Portugal. 

  • Objetivos generales:

    Reduce Almada’s carbon footprint by financing energy efficiency and renewable energy investments

  • Principales resultados alcanzados:

    Projects financed so far

    - Tele-management system for the public lighting - energy consumption of public lighting dropped

    by about 40% on almost 1200 light points which is a reduction of nearly 0,6 GWh and 300 tons of

    CO2eq. The estimated savings including maintenance and electricity cost are about € 80,000 /


    - Solar hot water in 100% city-owned sports facilities - resulted in a reduction of natural gas

    consumption of about 0.5 GWh and financial savings of nearly €40,000.

    - 100% LED traffic lights

    - Energy-efficient lighting and HVAC systems in municipal buildings

    - Energy certification of municipal buildings

    - Electric vehicles for the municipal fleet

    - Efficient lighting in historical monuments

    - Use of biomass waste from parks and gardens for heat production

    Some of these projects were co-financed by the EU Structural Funds (50%) and the Almada Less Carbon

    Climate Fund (50%).

  • Descripción del modelo financiero
  • Tipo de beneficiarios:Público
  • Tipo de instrumento financiero:
  • Modelo de reembolso:


  • Links de interés:
  • Otra información:

    First of all, the CO2eq annual emissions attributed to the city council’s activities are calculated. Secondly, a price per ton of CO2eq is defined and applied to the global emissions. The final sum that results from the calculation is included within the next year’s municipal budget in a specific budget line – Almada Less Carbon Fund - exclusively dedicated to investments in energy efficiency and renewable energy.

    In 2009 when the scheme was launched, the value of 10€ per ton of CO2 was used, based on the average price of Certified Emission Reductions (CER) in the Framework of the Clean Development Mechanism and also within the range of Verified Emission Reductions (VER) price. The collapse of the carbon market made this parameter useless as a price reference. So the price has been adjusted annually based on the market evolution but also the price defined in the literature as optimum for carbon reduction technologies deployment (i.e. ~25€ ton/CO2).

    The Almada Less Carbon Fund ensures that costs associated with CO2eq emissions from the City Council’s activities are internalised and that they contribute to CO2eq compensation within the organisation.

  • Perfil de riesgo
  • Riesgo de rendimiento:


  • Riesgo financiero:


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