Panel discussion: Unlocking new sources of finance for urban climate action

As cities around the world face escalating climate challenges, the need for innovative and sustainable financing solutions has never been more critical. This panel will delve into emerging financial mechanisms and strategies that can empower urban areas to implement effective climate action. By bringing together experts from across finance and government, the discussion aims to illuminate the pathways for cities to secure the necessary funds to combat climate change, enhance resilience, and foster sustainable urban development.

Key talking points include:

• Innovative financing mechanisms – what is available to cities now and what new examples are emerging?
• CHAMP – how has this helped cities since COP28? What further work is required to mobilise finance through this initiative?
• Local government initiatives – showcasing innovative local government financing models, such as climate action levies and tax incentives, that incentivise sustainable practices and fund climate action programmes.
• Capacity building for municipalities – identifying the skills and knowledge needed for local governments to effectively navigate and access diverse financing options, including technical assistance and training programmes.