Raising and Steering Finance for Climate Action in Cities in Salon 12
13:30 - 15:00
This session will open with a keynote presentation on the most promising instruments to raise and steer investment towards lower-carbon forms of urban development. The speaker will highlight the crucial importance of enhancing financial maturity at all levels of government and in the domestic private sector (e.g. local commercial banks). He will further emphasise the need to create regulatory frameworks and adopt financing mechanisms that deliver low-carbon outcomes – such as energy-efficient building codes, congestion pricing and land value capture.
The event then brings together practitioners, donors and researchers to discuss how urban finance systems can be strengthened and adapted to unlock the resources needed for climate action. It will not look narrowly at the capacities of city governments, but more broadly at the ways that national governments and private firms enable or constrain investment in climate-positive urban infrastructure
The panel will focus on low- and lower middle-income countries, which often lack the capacities and frameworks needed for cities to act effectively. Nonetheless, there are a few pioneering cities and states that offer important lessons into financing urban climate action, such as Kampala, Durban, Rosario, Mumbai, Nairobi and Ahmedabad.