UN Climate Change
According to the C40 Cities Climate Leadership Group, there is tremendous opportunity for collaboration between cities and the private sector to invest in sustainable projects, and also the need to accelerate investment and development in sustainable infrastructure in order to deliver a climate safe future.
In the study Deadline 2020, the group estimates that C40 cities need to spend US$375 billion by 2020 on low carbon infrastructure in order to be on the right trajectory required to meet the ambition of the Paris Climate Change Agreement.
To make their job easier and to get a better sense of the investment potential in C40 cities, C40 and CDP have partnered together to produce an analysis of sustainable infrastructure projects currently in development across the C40 network. The report is accompanied by a “beta pipeline” that highlights planned projects in C40 cities.
The data shows that there are over 3,000 low-carbon infrastructure projects in planning stages across C40 cities worldwide, with over 700 in the buildings sector alone. Cities have only reported costs for 15% of these projects – but even this 15% amounts to US$15.5 billion in required investment.
Cities must rapidly improve project development information to attract finance. With further support, C40 aims to work with CDP and various other partners to improve the flow of project data from cities and build out this pipeline to become a valuable resource for cities and investors to support sustainable infrastructure investment.
Mayors globally are increasingly adopting measures to slash greenhouse gas emissions because it makes them popular with voters, former New York mayor Michael Bloomberg said on Monday.
Bloomberg, who was New York City mayor from 2002 to 2013, co-chairs the Global Covenant of Mayors for Climate and Energy, a group of more than 7,400 cities in 119 countries formed to swap information on such goals as developing clean energy.
Cities are responsible for an estimated 75 percent of carbon emissions contributing to climate change and consume 70 percent of global energy, according to the United Nations Environment Programme.
See the relevant C40 Cities blog
Read the reports here:
Sustainable Infrastructure Pipeline - beta version (spreadsheet)