Why cities climate finance?
As the world rapidly urbanizes, cities will need to transition to low-emissions, climate-resilient infrastructure. Finance is key to implementing this transition. In fact, the Global Commission on the Economy and Climate estimates that the world will need to invest roughly USD 93 trillion in sustainable infrastructure over the next 15 years, 70% of which is likely to be in urban areas, or to serve mostly urban dwellers.
However, current infrastructure spending in urban areas stands at USD 2.5-3 trillion per year, which is just half of the need.
The Cities Climate Finance Leadership Alliance (the Alliance) is a multi-level and multi-stakeholder coalition aimed at closing the investment gap for urban subnational climate projects and infrastructure.
The Alliance provides a platform to convene and exchange knowledge among all relevant actors dedicated to urban development, climate action, and/or financing.
Alliance members include public and private finance institutions, governments, international organizations, NGOs, research groups, and networks that represent most of the world’s largest cities. As such, its members also represent the main market players in city-level climate finance.
Management and Governance
The Alliance is a membership network, managed and led by its members who make decisions through several bodies:
The Steering Committee is elected from the Alliance’s wider membership. It is responsible for making strategic decisions regarding the Alliance’s work, and are informed by regular communication with the Action Groups, the Secretariat, and the wider membership. The Steering Committee is led by two individuals, elected every two years.
As the Secretariat, Climate Policy Initiative carries out the Alliance’s day-to-day operations. This includes acting as a neutral administrator and encouraging member participation in the Alliance’s activities, including periodic meetings.
Climate Policy Initiative (CPI) serves as Secretariat for the Alliance. With deep expertise in finance and policy, CPI’s team of analysts and advisors works to help governments, businesses, and financial institutions drive economic growth while addressing climate change. To learn more about CPI, visit climatepolicyinitiative.org.
The Alliance Secretariat Team: