Why cities climate finance?

Approximately 70% of global CO2 emissions originate from urban areas, a staggering figure that is set to increase as an estimated 3 billion people shift from rural to urban areas by 2050.

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 Alliance

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:

Steering Committee

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.


The Assembly engages members and partners with the objective of scaling up investments for subnational climate finance. The Assembly meets once a year in the margins of an international conference.


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.

Action Groups

Alliance members collaborate in thematic Action Groups that address issues of relevance and interest for subnational climate finance.

The Secretariat

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: