On May 4th, a set of complementary sessions taking place during the 8th Global Forum on urban Resilience and Adaptation enabled to build convergence between cities needs, climate Project Preparation Facilities (PPF) support opportunities, and risks mitigation mechanisms such as Sustainability and Resilience Standards.
ICLEI, GIB, FMDV and CCFLA co-organized, as part of the implementation of the CCFLA PPF Working group activities, a set of complementary sessions during Resilient Cities Conference aiming at building a common culture on climate finance needs and opportunities for early stage project preparation for cities.
Participants, ie CCFLA members, PPF practitioners, researchers and City representatives, discussed how Project Preparation Facilities (PFF) such as R20 100 Projects Solutions Campaign, ICLEI Transformative Actions Program (TAP), C40 Finance Facility, FMDV Climate Finance Facility in West African Region, currently respond to the needs of local governments and contribute to provide a pipeline of sustainable and fundable projects. The key role playing by Sustainability and Resilience Standards like GIB SuRe Standard was presented as a solution to overcome the issue of creditworthiness, mitigate financial, environmental, social and governance risks, enabling to attract long-term and responsible investors to invest into sustainable infrastructures and city climate strategies.
These sessions were the occasion for the CCFLA PPF Working Group members and participants to focus on the notion of projects’ “bankability” and gain a critical insight in defining what a fundable project is, could or should be.
Resilient Cities Conference represented a key step in learning from local governments about the difficulties and barriers that they are facing to attract funds for their resilient projects from local and international market sources and build stronger collaboration among PPF practitioners allowing both to progress on the implementation of the CCFLA PPF working group action plan and fine-tune the political messages and strategies that in common CCFLA will address to national governments, decision-makers and investors on project preparation in order to keep the 2 degrees pathway.