In accordance with the Paris Agreement of the UN Framework Convention on Climate Change, EU member states, including Latvia, have committed to the EU Green Deal. To meet the established climate objectives, a substantial transformation of enterprises is imperative, focusing on both energy efficiency improvements and the adoption of sustainable energy sources. This research investigates the available financing mechanisms and public support for Latvian companies. The authors conducted interviews with representatives from the financial sector and government administration, surveyed entrepreneurs, and analyzed relevant documents and data. The findings reveal that the current demand among entrepreneurs for financing energy efficiency measures and the transition to alternative energy sources is lower than the available funding opportunities. Still, in a longer perspective, the availability of sufficient financial resources required to achieve comprehensive climate goals is questionable. Content analysis of the literature and document suggests that, alongside typical funding sources prevalent in Latvia, establishing public-private partnerships is recommended as an alternative source.