Cities are responsible for up to 70% of global greenhouse gas emissions, therefore climate change needs to be resolved in cities. There is an important window of opportunity to help cities, especially in rapidly urbanising developing countries, to better manage their future growth and development.
This working paper identifies five levers of effective climate action in cities that climate change practitioners should be aware of, and where appropriate, build into their project approach to support more effective climate action in cities. The five levers are:
- Power and leadership
- Communications and engagement
- Capacity building
- Financing implementation
- Demonstration effect
This guide has been developed in response to the interest of developing markets in the potential for capital markets to connect institutional private capital with projects that deliver positive environmental impact. Green bonds are a vehicle for doing this. The guide has been written for those with responsibility and interest in achieving environmental goals and commitments, in particular green growth and infrastructure development. It may be particularly useful for environment, finance and planning ministries and related teams in regions and cities.
The guide draws on learning from CDKN’s project to assess the potential for a successful green bond market in Colombia, and its broader climate finance work in other developing and emerging markets.
