How National Governments Can Increase Finance for Subnational Climate Action

Given that cities alone account for 70% of greenhouse gas emissions, the large-scale benefits of subnational climate action to citizens are embedded in both the Sustainable Development Goals (SDGs) and international climate goals. Subnational climate action includes improved local infrastructure services such as water and sanitation, waste management, sustainable transportation, clean energy, energy-efficient buildings, and disaster prevention and recovery (e.g., flood management). Consequently, reducing climate risk in subnational jurisdictions protects people, property, and livelihoods from climate disasters, helping to reduce budgetary outlays following extreme climate events while safeguarding national economies and enabling prosperity. This report from the Global Covenant of Mayors for Climate & Energy, Bloomberg Philanthropies, and C40 Cities offers implementation options, proven financial techniques, and coordination frameworks to boost subnational climate action.