The City Climate Finance Gap Fund at COP26 in Glasgow
The City Climate Finance Gap Fund is delighted to participate in a number of events at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow.
We are working closely together with our partners to help in the COP’s objective to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change, with a particular focus on cities, local government, and urban systems.
We look forward to presenting the concrete actions that the Fund is supporting in cities across the world for climate impact. The COP 26 is looking to become the “less talk more action” COP and we are proud to be one of the fund’s that aims to bring concrete action and impact to transition to low carbon, climate resilient urbanization pathways.
Please join us in person or virtually in the events listed below in which we are participating.
Urban LEDS - Time4MultilevelAction Dialogue: Finance flowing to accelerate Climate Action: Innovation and Partnership
Session organized by ICLEI WS, ICLEI Europe, and UN Habitat
This session is co-organized by ICLEI and UN-Habitat as part of the LGMA Time4Multilevel Action Dialogues. It will bring together speakers from city networks, city representatives and international financing institutions to discuss the key barriers and solutions for cities to access climate finance. The City Climate Finance Gap Fund will be featured.
Mobilizing Urban Climate Finance through the City Climate Finance Gap Fund
Session hosted by the Government of the Grand Duchy of Luxembourg
The City Climate Finance Gap Fund that is filling a critical gap in technical assistance funding at the very early stages of planning and project design to maximize climate impact, prioritize and prepare bankable urban climate investments and help cities in developing countries shift towards low-carbon, climate resilient development pathways. The Gap Fund is currently capitalized at €55 million, with a target of at least €100 million and the aim to unlock an estimated €4 billion to help cities transform climate ambition into finance-ready projects.
The event will bring together panelists from existing Donors and the Fund implementers (WB and EIB) to showcase the City Climate Finance Gap Fund as a key partner and player in mobilizing urban climate finance at scale as well as facilitate a dialogue with interested partners and donors on the fund.
Cities, climate change and MDBs: cooperation, action and delivery
Session organized by EBRD and the World Bank
Multilateral Development Banks can play an essential role in mobilizing finance to support climate action in cities and realize the goals of the Paris Agreement. This side event will present the actions MDBs are taking to support meaningful investments for urban decarbonization and resilience across the globe. The event will highlight the collaboration between MDBs, with the public and private sector, and with CSOs to enable impactful change in cities. Last, the event will highlight the investment and impact goals for cities each MDB has agreed to deliver.
The event will include participation of ADB, AfDB, AIIB, EBRD, EIB, IADB, IFC, WB.
The City Climate Finance Gap Fund: Helping cities early on to turn climate plans and pipelines into action
Session organized by the World Bank and EIB
Cities and urban systems are critical for achieving a global green and inclusive transition. Cities are home to most people, assets and innovation. They contribute 70% of GHGs and are the hotspots of global warming with significant negative impacts on human health, environment, and growth. The infrastructure needs of cities to shift to low carbon, resilient future requires trillions of dollars, especially in rapidly urbanizing cities in South Asia and Sub-Saharan Africa.
The event will present the City Climate Finance Gap Fund that is filling a critical gap in technical assistance funding at the very early stages of planning and project design to maximize climate impact, prepare and prioritize bankable urban climate investments and help cities in developing countries turn their climate plans and project pipelines into action. It will highlight the key achievements of the fund thus far, examples on how cities in developing countries are tapping into Gap Fund technical assistance and provide a vision of a coordinated approach with city governments, city networks, MDBs, Donors, national governments, and private sector to leveraging urban climate finance.