The battle against climate change is also waged at local level. The actions undertaken by regions and cities have a major impact for achieving the common objectives set down in the Paris Climate Agreement. Only mobilization by all parties can make a difference!

 

€4,3bn

investments under URBIS initiative and 5 technical assistance projects in Brazil and Mexico

25

projects in investment pipeline for €500M financed and developed by EBRD

7

resilience investment projects valued at $1bn supported by WBG

666+

early stage projects in 232 cities identified by GCoM with estimated deal flow of $50bn

Announcements

  • In line with the EU Agenda, “Global Urbis” provides cities with financing and technical assistance solutions to mobilize private and sub-national investment, including in some riskier sectors.
  • Global Urbis is based on innovative partnerships between the EU, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the Global Covenant of Mayors (GCoM)
  • GCoM announced collaboration with the World Bank Group City Resilience Programme 

Accomplishments

  • In the context of the European Investment Plan (EIP), the EU launched the "Sustainable Cities" and "Energy Efficiency" Windows, with a guarantee up to €100M.
  • EIB and GCoM launched the Global Climate City Challenge to pilot the provision of advisory services for cities’ climate action investments.
  • German Ministry for the Environment planning to step up funding for the Felicity program, implemented with EIB.
  • WBG City Resilience Program engaged with 55 cities, and aims to engage in 45 more cities to advance resilience in 2019.
  • Invest4Cities call to help mobilize TA and risk-sharing capital.

Next steps

  • Advance Invest4Cties parnterships to mobilize resources for :
    • supporting pre-investment technical assistance to deliver climate investments pipelines in cities, especially in ODA countries;
    • driving down cities’ investment risk profile with Global Urbis and WBG partnerships, providing already $5Bn of MDBs financing;
    • mobilizing private flows with co-financing, blending and pooled-finance mechanisms.
  • Scale Pilot for EIB/GCOM Global Climate City Challenge
  • Identify second tranche of cities for EBRD and WBG
  • GCoM collaborating with Climate Policy Initiative for innovative climate finance mechanisms

9

additional cities signed the Fossil Fuel Free Streets Declaration

25

cities committed to transition towards zero waste

19

cities committed to net zero carbon buildings declaration

Announcements

  • The Global Covenant of Mayors for Climate & Energy (GCOM), the C40 Cities Climate Leadership Group (C40), and ICLEI announced the One Planet Charter (OPC), a partnership for a major campaign to accelerate implementation of the Paris Agreement.
  • The initiative encourages cities to make ambitious public commitments that can drive investment, green public procurement and policy decisions related to renewable energy, energy efficiency, electric vehicles, zero-emission buildings and zero waste.

Accomplishments

  • Website for the OPC created by GCOM to highlight commitments by cities to take action.
  • Major campaign led by C40 to drive new commitments in zero emissions transport, buildings and waste;
  • Participation of cities around the world in webinars and presentations
  • Report on progress will be released by GCoM at GCAS
  • Commitments captured under the OPC:
    • 220 on urban mobility
    • 443 on renewable energy
    • 718 on low carbon buildings
    • 90 on solid waste management
    • 224 on resilience

Next steps

  • Tracking systems to measure progress towards implementation are being developed
  • GCoM to continue to measure actions and further develop the website
  • C40 to support cities in advancing implementation through its networks and technical assistance activities
  • ICLEI to support these efforts through its Sustainable Procurement Program
  • Partners to secure additional resources to support implementation on the ground
The decisions being made by mayors right now on investments for sustainable and resilient infrastructure will determine the future of generations to come. The One Planet Charter will make it easier to build the argument for bold climate action and investment in these crucial months and years ahead.
Anne Hidalgo, Paris Mayor, C40 Chair and Global Covenant of Mayors Board member