This report presents a global overview of CCFLA member’s responses to close the subnational resilient infrastructure investment gap.
The document provides a background on local and regional governmental climate finance, and highlights the great diversity of financial and non-financial products and services developed by CCFLA members to support cities and regions' climate-smart investments. These relate to project preparation in particular (eg. funding and technical advisory services in project preparation phases; technical assistance for sustainable infrastructure planning and financial design). The growing momentum for localizing climate action and financing is described, as well as profiles of the lead organizations involved.
The report indicates that CCFLA members are leading a total of 27 Project Preparation Facilities (PPFs) with 15 of these PPFs being urban-specific while 25 PPFs operating directly at the project or sub national level. Additionally, the subnational level of action is being increasingly acknowledged with a growing number of international coalitions including subnational and/or a city dimension to their action. There is a recent and growing commitment from CCFLA members, with 50% of the initiatives starting to be operational less than 2 years ago. The report also indicates that Multilateral Development Banks (MDBs) and bilateral or national Development Finance Institutions (DFIs) are leading the movement towards the localization of climate finance, playing a pivotal role in building financing models for resilient infrastructure.