September 2024 Newsletter: Climate Finance Edition
In this third special finance-focused newsletter, we take stock of resources and opportunities for local governments on accessing finance, while Maryke van Staden, Director of ICLEI’s carbonn Climate Center, reflects on recent UrbanShift events and highlights opportunities to come.
Dear friends and colleagues,
Over the past year, UrbanShift’s finance activities and the support offered to cities within our network have made significant strides. As finance is at the heart of every urban sustainability project, an important part of our work focuses on enhancing local governments’ capacity to access the resources and support they need. On behalf of ICLEI — part of the UrbanShift partner network along with C40, WRI and UNEP — I am delighted to share our recent progress in this space in this special finance edition of the UrbanShift quarterly newsletter.
Just over halfway through 2024, UrbanShift already has much to reflect on and look forward to. In April 2024, we gathered over 250 leaders from 35 countries across Latin America and the Caribbean for the UrbanShift Latin America Forum—a robust and dynamic exchange on accelerating finance for green and resilient cities. The next month, we gathered in Chengdu, China for the City-Business Collaboration Accelerator (CiBiX) workshop – a tailored conversation led by ICLEI experts to foster cooperation between public and private sector partners on unlocking investment in the waste sector. In July, officials from Indonesian cities participated in the Energy Finance Academy to dive deep into best practices on preparing and financing clean and efficient energy projects. And just recently, we delivered a City Academy in Jakarta that explored nature-based solutions, circular economy approaches, and climate action strategies—and how to finance them—for Asian cities.
Alongside the flurry of finance-focused UrbanShift activities this year, we have continued to democratize access to resources and opportunities for a broad range of cities. ICLEI’s Transformative Actions Program (TAP), for instance, supports local governments to strengthen their resilience project proposals. The current TAP call for projects is open until October 31st; you can find out more about how to apply for it—and a range of other technical assistance opportunities within the UrbanShift network—below. The past months have also seen the release of essential resources and tools on financing a wide range of projects to further urban sustainability and resilience, from biodiversity to net-zero buildings. Make sure you read through them below.
Next month will mark three whole years since UrbanShift officially launched in September 2021. Since then, our commitment to accelerating access to urban climate finance access remains steadfast, and we are looking forward to several events (find out all the details below) that highlight best practices for creating—and funding—the sustainable cities we and our planet need to thrive.
We will continue to share more knowledge, opportunities, experiences, and resources on finance access with you. Please follow us our progress on LinkedIn and X, and join hands to collectively build greener, more resilient cities.
Maryke van Staden / Director of ICLEI’s carbonn Climate Center
NEWS & UPDATES
Teresina Receives Light-Touch Technical Assistance Funding from UrbanShift and C40 Cities
From a competitive pool of applications, the Brazilian city was selected to receive support to overcome financing barriers to urban drainage and regeneration projects. Read more.
Watch the What, Why and How of Climate Budgeting
Catch the insightful conversation between Oslo Mayor, Eirik Lae Solberg, and Mark Watts of C40 on Oslo’s climate budgeting approach and hear from Enver Enver, Interim CFO of the Greater London Authority, on operationalizing London’s climate action plan. Video available in English, French, Mandarin, Portuguese, and Spanish. Watch here.
Listen in on Green Bonds and Green Finance Models in Municipalities
This episode of Kaj Embren’s Transformers podcast highlights the innovative use of green bonds by municipalities to finance sustainable infrastructure projects. Maryke van Staden from ICLEI, Björn Bergstrand from Kommuninvest, and Sean Kidney from the Climate Bonds Initiative discuss how to enhance municipal creditworthiness and promote collaboration between finance and sustainability departments. Listen here.
Costa Rica Debuts New Educational Space Focused on Sustainable Cities
With the support of Global Environment Facility funding, the UrbanShift project in Costa Rica, Transition to a Green Urban Economy, opened a new exhibit where kids can learn about and interact with ideas for resilient cities. Read more.
BLOGS & RESEARCH
Unlocking Urban Finance: The Vital Role of Project Preparation for City Projects
As cities work to develop and implement transformative climate projects, access to finance is critical. Project Preparation Facilities (PPFs) can help cities ensure their projects are structured to attract funding.
How Cities are Beating the (Urban) Heat
From innovative data analytics to urban greening, cities like Cape Town and Medellín are tackling the growing extreme heat crisis head-on.
How Cities can Support Workers in Extreme Heat
Cities can play an important role in ensuring decent conditions for vulnerable workers, protecting them from the effects of extreme heat and promoting the right to healthy and safe workplaces. Here’s how cities can get started.
Navigating Urban Biodiversity and Finance: Insights from UrbanShift's Marrakech City Academy
With Marrakech as the backdrop, participants in this UrbanShift City Academy for Africa engaged with innovative strategies for financing biodiversity and urban challenges like water management.
China City-business Collaboration Accelerator Workshop at Chengdu
The China City-business Collaboration Accelerator (CiBiX) Workshop aimed to foster innovative urban sustainable development solutions and strengthen the city's recycling system.
UrbanShift Indonesia City Academy: A Thematic Exploration of Sustainable Urban Development in Asian cities
As cities in Asia face mounting challenges with rapid expansion and climate change, this in-depth training offered valuable insights on nature-based solutions, circular economy, and integrated climate action planning.
CLIMATE FINANCE RESOURCES
A Guide to Biodiversity Financing for Cities and Regions
Using in-depth definitions, case studies and resources, the guide covers innovative and traditional financing instruments to support biodiversity conservation, maintenance, restoration and preservation.
Accessing Urban Climate Finance
The goal of this course is to increase the capacity of city-level actors to mobilize and access finance for sustainable and climate-resilient urban infrastructure projects. It offers guidance to subnational governments to better understand the planning, design, and financing processes for these critical projects, shaping net-zero cities that are able to meet the needs of all their residents.
Banking on Green Buildings
From UNEP's Finance Initiative, this paper offers guidance to banks interested in scaling up investments in green buildings.
Net Zero Carbon Buildings Instrument Database
This searchable database from the Cities Climate Finance Leadership Alliance offers decision-makers helpful tools to guide implementation of net-zero building approaches.
DO PROJETO DE ADAPTAÇÃO CLIMÁTICA AO FINANCIAMENTO
This guide helps city managers find funding for adaptation projects. It offers practical recommendations throughout the project cycle, emphasizing collaboration and integration between departments.
Accelerating Nature-Based Solutions in Brazilian Cities
This practice note from WRI Brasil shares insights from the program's Nature-Based Solutions Accelerator.
CLIMATE FINANCE OPPORTUNITIES
Catalog of Financing Opportunities
The Catalogue of Opportunities is an annually updated resource curated by ICLEI – Local Governments for Sustainability. It features a comprehensive collection of programs, funds, and initiatives designed to support local governments in the preparation and implementation of their projects. Each opportunity is detailed with its scope and the type of support it offers, providing valuable guidance for local authorities seeking to advance their sustainability goals. Explore the Catalogue.
Transformative Actions Program (TAP) 2024 Call
Led by ICLEI – Local Governments for Sustainability, also as part of the UrbanShift global support offer, local governments and their local partners are invited to respond, by submitting local infrastructure projects seeking project preparation support and investment. The TAP brings together partners, financial institutions, and project preparation facilities to assist subnational governments in turning their priority sustainable infrastructure ideas into finance-ready projects that can be pitched to potential investors. Learn more about TAP, join our webinars, and submit your applications to TAP here. Deadline: 31 October 2024.
City Climate Finance Gap Fund
The Gap Fund – implemented by the World Bank and European Investment Bank – offers technical assistance to local governments in low and middle-income countries for early or underfunded stages of project identification and preparation. Apply here for potential pre-feasibility support by the Gap Fund. Applications can be submitted throughout the year.
International Municipal Investments Fund Technical Assistance Facility (IMIF-TAF)
Managed by the UNCDF, the IMIF TAF assists urban investment opportunities in middle- and lower-income countries with development and late-stage project preparation. It focuses on projects of less than USD 25 million that can be financed in partnership with the private sector. Projects that receive the support from IMIF TAF can be submitted to the IMIF with a better chance of success. Apply here. Deadline: 23 May 2025.
UPCOMING EVENTS
TAP Special Webinar Series: Green Finance Innovation
This webinar series, hosted by ICLEI's Transformative Actions Program, will offer a deep dive into how green bonds could transform cities in different regions.
PEOPLE-CENTERED AND CLIMATE RESILIENT PLACES: PEER-TO-PEER EXCHANGE FOR LATIN AMERICAN CITIES
Hosted in Rotterdam, this P2P Exchange will explore integrated and sustainable urban development strategies to fight climate change and promote livable neighborhoods.
Clean Transport Finance Academy for African Cities
This 3-day workshop will unite city-level Chief Financial Officers (CFOs) and staff from Transportation Departments across Africa to address challenges related to financing clean transport.
Adaptation Finance Academy for Indian Cities
This three-day event will connect Indian cities with the finance sector to accelerate investments in urban nature projects.
PAST EVENTS
Addressing Contemporary Challenges in Historic Districts: Strategies for Implementing Clean Air Zones
In this C40-led webinar, cities will exchange their experiences with and guidance for implementing low-emission and pedestrian-priority areas in historic urban cores.
Indonesia City Academy
Hosted for cities from Indonesia, India, and China, this City Academy will focus on Circular Economy, Nature-Based Solutions, and Integrated Climate Action Planning.
Webinar on Extreme Urban Heat: Opportunities to Mitigate Risks in Cities
In this webinar, UrbanShift and WRI lead a conversation with cities and experts on effective strategies to cool down urban areas.
UrbanShift Energy Finance Academy for Indonesian Cities
This Finance Academy will build capacity among representatives from Indonesian cities to develop bankable clean energy projects.
URBANSHIFT MARRAKECH LAB: USING GEOSPATIAL ANALYSIS AND INDICATORS TO PRIORITIZE GREENSPACE EXPANSION AND ENHANCE URBAN BIODIVERSITY
This workshop convened representatives from the cities of Marrakech, Agadir, Beni Mellal, Rabat and Tangier, the national government and other stakeholders to prioritize greenspace expansion and biodiversity conservation in Marrakech.
China City-Business Collaboration Accelerator (CiBiX) Workshop
This workshop will accelerate public-private collaboration around waste reduction, management, and reuse in Chengdu.
