Of the 500 largest cities in emerging economies, only four per cent are deemed creditworthy in international markets. As a member of the Cities Climate Finance Leadership Alliance (CCFLA), WWF hopes to change that statistic, accelerating investment in low-emission, climate resilient infrastructure. The ultimate goal: Close the investment gap in urban areas over the next fifteen years. A report, The State of City Climate Finance
, examines five innovative steps cities can take to gain infrastructure finance.
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- Urge national governments to adopt policies and incentives that encourage cities to invest in low-emission and climate-resilient infrastructure.
- Support cities in adopting frameworks that put a price on climate externalities, such as cap-and-trade.
- Strengthen facilities that can support cities in developing investment-worthy climate action projects.
- Direct international development finance through local financial institutions.
- Create a network of labs to innovate new financial instruments and funding models.