A bold step towards a greener economy was taken at COP29 in Baku. An innovative initiative aimed at boosting investments in energy efficiency for small and medium-sized enterprises has been launched. This model, called “servitization,” transforms the way companies use energy, offered as a service to avoid often prohibitive initial costs. Led by the European Investment Bank, the European Commission, and the Solar Impulse Foundation, this project promises significant gains for the climate and business while attracting valuable investments. Bertrand Piccard sees this initiative as a new financial lever, ready to redefine the energy approach of European companies.
At the COP29 in Baku, Azerbaijan, the European Investment Bank, the European Commission, and the Solar Impulse Foundation presented a pilot initiative to promote investments in energy efficiency for the benefit of small and medium-sized enterprises (SMEs). This groundbreaking project is based on a “servitization” model, where companies pay for outcomes, such as heat or light, rather than for equipment. The project seeks to reduce the initial costs of energy efficiency measures by collaborating with various investors to explore alternative funding strategies, including co-investments and equity funds. This model could potentially be extended beyond SMEs to include the industrial landscape and European municipalities.
cop29: introduction of the servitization model for optimized energy efficiency
At COP29 in Baku, a revolutionary initiative was established to support the energy efficiency of small and medium-sized enterprises (SMEs) in Europe. This initiative, in collaboration with major players such as the European Investment Bank (EIB), the European Commission, and the Solar Impulse Foundation, aims to transform the way companies adopt energy solutions. The “servitization” model allows SMEs not to buy eco-efficient equipment, but to simply pay for the results achieved, such as light or heat, thus providing access without significant initial costs.
a robust financial commitment in favor of the environment and businesses
COP29 was an ideal platform for this announcement, highlighting the importance of sustainable investments. Bertrand Piccard, president of the Solar Impulse Foundation, stated that this model offers numerous advantages for the environment and investors. With a pilot project planned for a year, the initiative hopes to attract many private and institutional investors by demonstrating the economic viability of this model. Financial strategies will include exploring public guarantees to strengthen stable long-term revenues, thus appealing to pension funds and insurance companies.
towards a large-scale energy transition
The ambitions of the initiative do not stop at SMEs alone. The project aims to elevate energy efficiency at the level of the European industry. This innovative model could be expanded not only to businesses but also to municipalities, thus contributing to a broader and more significant energy transition. Europe believes that initiatives such as this are crucial to achieving the climate goals established at previous international conferences. By focusing on practical and economically viable solutions, the initiative aspires to become a reference across Europe, fundamentally transforming the energy approach within the continent.
