The population in developing and emerging countries is urbanising at three times the rate of developed countries, according to the World Bank. This, coupled with limited access to capital markets, is a pressing challenge for cities and municipalities wishing to implement climate-friendly infrastructure plans in line with a post-Paris, low-carbon future. However, innovative ways to access the much-needed climate finance for urban projects are emerging and will pave the way for cities' climate action potential.
Green bonds are increasingly recognised as a valuable tool to access low-cost capital to finance low-carbon and climate resilient infrastructure, in particular for developing countries. Understanding green bond data can help cities in developing countries access green bond market flows to finance their urban infrastructure needs. In the newly published "Strategic Guide for City-level Policymakers in Developing Countries", Climate Policy Initiative (CPI) provides a market access strategy for city administrators and stakeholders in developing countries to help unlock their climate action potential and meet the water, energy, housing and transportation needs of their expanding urban populations in a sustainable way.
The guide has been written with the support of the Climate-KIC-funded Low Carbon City Lab (LoCaL) as part of the Green Bonds For Cities Project. The project is led by South Pole Group in collaboration with CPI, Climate Bonds Initiative and ICLEI – Local Governments for Sustainability.
