2014 Climate Change Summit paves the way for World Bank cities initiative

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On 23 September, UN Secretary-General Ban Ki-moon invited world leaders, from government, finance, business, and civil society to the Climate Summit 2014 to galvanize and catalyze climate action. He has asked these leaders to bring bold announcements and actions to the Summit that will reduce emissions, strengthen climate resilience, and mobilize political will for a meaningful legal agreement in 2015.

One year after launch, the World Bank Group’s Low Carbon Livable Cities Initiative (LC2) is moving ahead to help cities plan and finance sustainable urban growth. The Cities Climate Finance Leadership Alliance and other partnerships, announced at the United Nations Climate Summit, will enable the Bank to collaborate more closely with partners and expand these efforts to accelerate investment in climate-smart infrastructure.

CDIA is officially included in the World Bank’s announcement of the City Climate Finance Leadership Alliance. Stephen Hammer’s words underline the relevance of CDIA in the Alliance:

“The Alliance brings the value of collective action to attract investment. The idea is to get the conversation going and connect the full range of actors that need to be involved, sharing knowledge so successful examples can be replicated,” said Stephen Hammer, World Bank lead specialist for cities and climate change. “Assessing the challenges that cities and financial institutions face to mobilize investments, and working with the private sector as well as national and international public financial institutions to scale-up financial products are some of the activities that we need to take on together.”

The Cities Climate Finance Leadership Alliance Partners are:
(as of September 2014) the African Development Bank, Bank of America Merill Lynch, C40 – Cities for Climate Action, Citibank, Cities Development Initiative for Asia (CDIA), Climate Bonds Initiative, Development Bank of Latin America (CAF), European Investment Bank, French Agency for Development (AFD), Global Infrastructure Basel (GIB), Gold Standard Foundation, ICLEI – Local Governments for Sustainability, Japan Investment Cooperation Agency (JICA), Meridiam, Standard & Poor’s Ratings Services, UN-Habitat, The United States, West African Development Bank (BOAD), World Resources Institute, World Bank Group, WWF.

For the full story, go here.

An unprecedented number of world leaders attended the Summit, including 100 Heads of State and Government. They were joined by more than 800 leaders from business, finance and civil society. This Summary details their most significant announcements. Download the Chairman’s Summary here.

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