Last year marked an important tipping point: for the first time, half of the global population lives in cities. Cities currently add 1.4 million people each week and this population growth comes with new buildings, roads and transport systems.
Ani Dasgupta, Global Director of WRI Ross Center for Sustainable Cities discusses unique solutions cities can offer to combat climate change, boost economic prosperity, and catalyze smart urbanization.
Peru was recently awarded €9 million ($11.14 million) for its urban transport Nationally Appropriate Mitigation Actions (NAMA) by the German and British NAMA facility.
This climate finance award will allow the Peruvian government to leverage $50 million from development aid agencies—especially KfW, the Inter-American Development Bank (IDB), and CAF Development Bank of Latin America—and much more from the private sector.
Leaders at COP20 can explore a range of sources for financing low-carbon urban development including multilateral investment banks, private investors, and innovative initiatives like the Nationally Appropriate Mitigation Actions or climate-themed bonds.
As national leaders prepare plans to curb greenhouse gas emissions at COP20, they can look to sustainable transport for win-win solutions that curb emissions while generating jobs, boosting economic growth, and improving public health.