ADB Urban Forum 2011: Financing Future Cities
September 1, 2011
ADB Headquarters, Manila, Philippines: 15 November 2011 – 17 November 2011
Asian cities, some already nation-sized in terms of their economy, will determine the future of the planet. They are the new workshops of the world: their economic growth has lifted millions out of poverty, although they are still home to more than two thirds of the world’s poor who are most vulnerable to the impacts of climate change. They will make or break the battle against climate change, on the one hand being a significant contributor to environmental degradation through production, consumption and waste generation, on the other having the potential to become an engine for solutions that may turn around the disastrous path to climate change that the world is facing.
The key question is how, while maintaining economic growth, investments can be made to foster sustainable and inclusive development so all Asian urban inhabitants can enjoy a quality of life with access to basic services, shelter and employment that at the same time is resilient to the impacts of climate change.
How can these needed investments be financed? Globally, increased awareness on climate change has resulted in multitude funds for climate mitigation and adaptation – these are primarily available to national governments. But how can cities that are at the forefront of implementation of such measures, access these funds? What financing mechanisms exist at national and international levels for cities to tap?
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