Banking on a Just and Green Recovery

To make the green and just transition a reality, cities urgently need more urban climate finance. Recent research shows a significant gap between the amount of finance cities receive and the amount they need to meet the climate emergency. To address this challenge, cities are finding innovative ways to finance and implement projects with a focus on inclusion, equity, and a green and just recovery. This C40 Cities report provides nine diverse case studies of cities which are leading the way, with the aim of sharing actionable lessons for city officials and other stakeholders about how to access finance. 

The nine case studies include:

• Freetown, Sierra Leone - Engaged citizens and international finance to restore nature and increase the city’s resilience.
• Addis Ababa, Ethiopia - Committed to equitable Transport Oriented Development (TOD) to win investment for low-emission urban light rail.
• Athens, Greece - Developed a natural capital financing facility to develop urban forests for low-income communities.
• Cape Town, South Africa - Launched a municipal green bond to fund city climate and water infrastructure.
• Bandar Lampung, Indonesia - Developed a Public-Private Partnership to fund modern water access for citizens and increase the city’s climate resilience.
• Bogotá, Colombia - Financed an inclusive public-bike-sharing networks through public and private sector collaboration.
• Melbourne, Australia - Leveraged funding for COVID-19 response to develop climate-friendly, socially distanced bicycle infrastructure.
• Seoul, South Korea - Decarbonised public and private sector buildings through green standards and regulations, boosting the local green economy.
• Hong Kong, China and Los Angeles, USA - Deployed green employment and jobs schemes to support a just recovery from the COVID-19 pandemic