Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance

By 2050, two-thirds of the planet’s population will live in urban centers, and nearly 90 percentof the 2.5 billion new urban dwellers will live in Africa and Asia. The world’s urban areas wereresponsible for around 70 percent of greenhouse gas (GHG...

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Main Author:	World Bank Group
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	PARTNERSHIP FOR MARKET READINESS CARBON POLICY CLIMATE CHANGE CLIMATE IMPACT CLIMATE CHANGE MITIGATION CARBON TAX URBAN DEVELOPMENT PARIS AGREEMENT CARBON PARTNERSHIP FACILITY
Online Access:	http://documents.worldbank.org/curated/en/269631538069214396/Low-Carbon-Cities-Exploring-New-Crediting-Approaches-to-Deliver-Carbon-and-Climate-Finance http://hdl.handle.net/10986/30611

id	okr-10986-30611
recordtype	oai_dc
spelling	okr-10986-306112021-05-25T09:19:03Z Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance World Bank Group PARTNERSHIP FOR MARKET READINESS CARBON POLICY CLIMATE CHANGE CLIMATE IMPACT CLIMATE CHANGE MITIGATION CARBON TAX URBAN DEVELOPMENT PARIS AGREEMENT CARBON PARTNERSHIP FACILITY By 2050, two-thirds of the planet’s population will live in urban centers, and nearly 90 percentof the 2.5 billion new urban dwellers will live in Africa and Asia. The world’s urban areas wereresponsible for around 70 percent of greenhouse gas (GHG) emissions in 2013, and that numbercould grow by 50 percent by 2050 if current trends continue. In 2015, world leaders committed to limiting the global temperature increase to well below 2 degrees Centigrade and to pursuing efforts to reach a 1.5 degrees Centigrade limit in the context of the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC). The Paris Agreement invitescities to scale up climate action, and over two-thirds of participating countries’ Nationally Determined Contributions (NDCs) mention urban action. More than 70 percent of the global low emissions and climate-resilient infrastructure will be built in urban areas, at an estimated cost of 4.5 to 5.4 trillion USD per year. As highlighted by the Cities Climate Finance Leadership Alliance (CCFLA), scarce climate finance resources must be used strategically to both increase the amount of funding available and as part of a process of enabling and levering existing and new financing to flow from a broad range of sources, most importantly from the private sector. It is essential for cities to diversify and blend their sources of finance and tap the full spectrum of resources available to raise funds for climate action. However, successful funding for climate action—notably in developing countries—needs to overcome barriers such as the lack of creditworthiness of subnational governments, insufficient access to capital markets and international mechanisms, and lack of financial and technical skills and human resources. 2018-10-24T19:46:36Z 2018-10-24T19:46:36Z 2018-09-27 Report http://documents.worldbank.org/curated/en/269631538069214396/Low-Carbon-Cities-Exploring-New-Crediting-Approaches-to-Deliver-Carbon-and-Climate-Finance http://hdl.handle.net/10986/30611 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Environmental Study Economic & Sector Work Brazil Czech Republic Morocco Thailand
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	PARTNERSHIP FOR MARKET READINESS CARBON POLICY CLIMATE CHANGE CLIMATE IMPACT CLIMATE CHANGE MITIGATION CARBON TAX URBAN DEVELOPMENT PARIS AGREEMENT CARBON PARTNERSHIP FACILITY
spellingShingle	PARTNERSHIP FOR MARKET READINESS CARBON POLICY CLIMATE CHANGE CLIMATE IMPACT CLIMATE CHANGE MITIGATION CARBON TAX URBAN DEVELOPMENT PARIS AGREEMENT CARBON PARTNERSHIP FACILITY World Bank Group Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
geographic_facet	Brazil Czech Republic Morocco Thailand
description	By 2050, two-thirds of the planet’s population will live in urban centers, and nearly 90 percentof the 2.5 billion new urban dwellers will live in Africa and Asia. The world’s urban areas wereresponsible for around 70 percent of greenhouse gas (GHG) emissions in 2013, and that numbercould grow by 50 percent by 2050 if current trends continue. In 2015, world leaders committed to limiting the global temperature increase to well below 2 degrees Centigrade and to pursuing efforts to reach a 1.5 degrees Centigrade limit in the context of the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC). The Paris Agreement invitescities to scale up climate action, and over two-thirds of participating countries’ Nationally Determined Contributions (NDCs) mention urban action. More than 70 percent of the global low emissions and climate-resilient infrastructure will be built in urban areas, at an estimated cost of 4.5 to 5.4 trillion USD per year. As highlighted by the Cities Climate Finance Leadership Alliance (CCFLA), scarce climate finance resources must be used strategically to both increase the amount of funding available and as part of a process of enabling and levering existing and new financing to flow from a broad range of sources, most importantly from the private sector. It is essential for cities to diversify and blend their sources of finance and tap the full spectrum of resources available to raise funds for climate action. However, successful funding for climate action—notably in developing countries—needs to overcome barriers such as the lack of creditworthiness of subnational governments, insufficient access to capital markets and international mechanisms, and lack of financial and technical skills and human resources.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
title_short	Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
title_full	Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
title_fullStr	Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
title_full_unstemmed	Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance
title_sort	low carbon cities : exploring new crediting approaches to deliver carbon and climate finance
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/269631538069214396/Low-Carbon-Cities-Exploring-New-Crediting-Approaches-to-Deliver-Carbon-and-Climate-Finance http://hdl.handle.net/10986/30611
_version_	1764472363298062336

Low Carbon Cities : Exploring New Crediting Approaches to Deliver Carbon and Climate Finance

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