Cities and Carbon Finance: Feasibility Study on an Urban CDM

Cities are home to more than half the global population and are responsible for 60 to 80 per cent of energy use and more than 75 per cent of carbon emissions. This report examines how cities can better access climate finance through the Clean Development Mechanism (CDM). It recommends reforming the existing CDM to allow for methodologies geared towards cities. It also recommends the development of a CDM programme of activities for pilot cities that would inform the future development of Nationally Appropriate Mitigation Actions (NAMAs) and assist in the transition to a green economy.