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Financing climate compatible development at Daring Cities

13 October 2020

The lockdown caused by the COVID-19 pandemic unveiled the deep vulnerabilities and unpreparedness of the urban system, healthcare and economy to absorb sudden shocks. As the cities begin to unlock and plan for post-pandemic recovery, it is a wake-up call for our social and financial system to be better prepared for the long term climate crisis. There is a need to focus on the climate agenda, even in the middle of this pandemic, so that investments can be routed toward sustainable infrastructure, green jobs, and environmental resilience. Innovative financing mechanisms will be needed to meet the large investment needs of a transformative green recovery.

Policy makers and decision-makers have an important role to play in orchestrating a recovery that addresses the current crisis, while building a strong foundation to tackle climate change. The Global Commission on Adaptation has estimated that investing $1.8 trillion globally from 2020 to 2030 in resilience-building measures could generate $7.1 trillion in total new benefits.

During the webinar, panellists will present and discuss best practices to accelerate sustainable and green recovery including various opportunities that can be leveraged to build resilience at the local level to deliver national climate commitments and long-term climate strategies as well as ways to strengthen adaptation and resilience to future shocks. The envisaged outcomes of the webinar include:

1)     Understanding opportunities for sustainable and greener recovery to prepare for the long term sustainability, resource access and climate impact solutions

2)     Understanding the role of urban good governance mechanisms to kick-start sustainable recovery

3)     Promote peer-learning from cities on governance and finances to accelerate sustainable and greenery recovery.

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