Reflecting the diverse and vibrant nature of our cities, finance can be used across the urban environment to deliver clean energy benefits to commercial, industrial and residential property; low emissions transport and energy efficient large-scale economic infrastructure; as well as local government, educational and community assets.
It is clear that catalysing the finance required, at the scale required, for true low carbon development in cities globally – and in developing countries in particular – will not be possible without new, cost-effective and trusted funding frameworks that address the three over-riding identified barriers to change:
The lack of knowledge needed to create integrated, holistic and implementable strategies that deliver a full range of interventions to reduce emissions at scale whilst making significant and lasting improvements to livelihoods
Strong governance frameworks combined with consistent, trusted auditing around low carbon project outcomes – both in relation to emission reductions and sustainable development
Long-term, sustainable financing structures that catalyse combinations of public and private investment into sustainable urban infrastructure and development.
In order to scale-up and attract new sources of finance in the timescale needed, it is vital that these funding frameworks are replicable in cities around the world. This will give investors confidence that they have a global benchmark to measure progress and outcomes.