Author: C40 Cities

Category: Finance Facility

Published/Created by: C40 Cities

Link: https://www.c40.org/wp-content/uploads/2022/04/Green-Finance-In-Cities.pdf

Green Finance Bench Marking Assessment - study Financing is frequently cited as one of the most prohibitive barriers municipal governments face when trying to implement climate action. For this resource, C40 Cities collaborated with the Government of Dubai to explore green finance trends and challenges experienced across the C40 network with the aim of breaking down the complex issue of access to finance. Currently, only 10% of climate finance directed towards cities covers adaptation and resilience. Accessing finance for adaptation and resilience projects is especially challenging for cities. Cities globally are already facing the dire impacts of climate change with the poorest and most vulnerable citizens hit the hardest. When C40 asked member cities which types of projects are prioritised for funding, only 16% said adaptation/resilience, 38% said mitigation and 46% said both. So, this is something C40 tries to improve. The main challenges identified by the C40 are creditworthiness, Capacity to develop projects, and multi-stakeholder engagement. There are different types of support offered by C40: Training / capacity building; Connections to investors, identifying funding options / opportunities; Support on project prep; Small technical assistance grants (<$15,000); Consultancy support on finance strategies; and Chief Financial officer engagement.

Further information: https://www.c40.org/what-we-do/influencing-the-global-agenda/financing-the-green-transition/