Recognizing that the global response to climate change must include robust sub-national action, particularly in urban areas, coalitions of cities, banks, national governments and civil society organizations launched the Cities Climate Finance Leadership Alliance at the UN Secretary-General’s Climate Summit on 23 September 2014.
The Cities Climate Finance Leadership Alliance’s mission is to catalyse and accelerate additional capital flows to cities, maximize investment in low-carbon and climate-resilient infrastructure, and close the investment gap in urban areas over the next fifteen years.
The Alliance is a coalition of thirty six leading institutions that are committed to mobilize finance for low-emission and climate-resilient infrastructure, in particular for the benefit of poor and vulnerable communities in cities. Alliance members commit to reinforce and expand their existing programs to support city leaders and city institutions, as well as to share information, coordinate activities, and seek synergies among their individual efforts.
The success of the Alliance will be measured by its ability to stimulate the flow of investment towards climate-related infrastructure projects in cities – leading to a market growth from billions of dollars to trillions of dollars each year and a reallocation of capital investments in urban development from high to low emission assets.
The Alliance is pursuing three main outcomes:
- Increasing visibility: Highlighting the current flows, solutions to scale and the current city climate finance “investment gap” between the current level of investment in low-carbon and climate-resilient infrastructure and that which is required to avert dangerous levels of climate change (i.e. beyond 2oC global temperature rise).
- Increasing capacity: Identifying barriers and promoting solutions (such as policy conditions, institutional arrangements, new skills and knowledge) necessary to facilitate additional large-scale capital flows of investment into climate resilient and low-emissions infrastructure in cities.
- Increasing supply: Identifying and mobilizing existing and innovative new models of public and private investments in configurations that are scalable and replicable. By working with supply-side actors (public and private investors) through multi-stakeholder dialogues; roundtables and workshops to stimulate new investments, the Alliance will help to increase the overall scale and volume of investment flowing into climate resilient and low-emissions urban infrastructure.
- African Development Bank (AfDB)
- Agence Française de Développement (AFD)
- Banco de desarrollo de América Latina (CAF)
- Bank of America Merrill Lynch
- Bloomberg Philanthropies
- Carbon Disclosure Project (CDP)
- C40 - Cities for Climate Action
- Citi Group
- Cities Development Initiative for Asia (CDIA)
- Climate and Clean Air Coalition (CCAC)
- Climate KIC
- Deutsche Bank
- European Investment Bank (EIB)
- German Development Bank (KfW)
- Global Environment Facility (GEF)
- Global Infrastructure Basel (GIB)
- Gold Standard Foundation
- Government of France
- Government of the United States of America
- ICLEI - Local Governments for Sustainability
- Inter-American Development Bank (IADB)
- Japan Investment Cooperation Agency (JICA)
- Johns Hopkins University School of Advanced International Studies (SAIS)
- Le Fonds Français pour l'Environnement Mondial (FFEM)
- R20 – Regions of Climate Action
- Standard & Poor’s Ratings Services
- UCLG – United Cities and Local Government
- UN Secretary General’s Climate Change Support Team (CCST)
- West African Development Bank (BOAD)
- World Bank Group
- World Resources Institute (WRI)
Photo credit: tdlucas5000 (Flickr)