Time and venue: 12.40-14.15, Arengo Conference Room, Kursaal Congress Centre, San Marino
Cities are home to over half of the world’s population. As the trend toward urbanization continues to grow, this share is projected to reach 70 per cent by 2050. Thus, they are a major source of wealth, with a growing share in the global gross domestic product estimated at 80 per cent in 2019.
Despite the convergence of population and wealth, many cities lack the required resources for financing development at a time when cities are the source of 70 per cent of planet-warming emissions and at the forefront of disaster response. The financing gap is more pronounced in cities belonging to developing and transition economies.
The past few years have seen the increased importance of green finance as an effective vehicle for closing the financial gap and for climate change mitigation. However, catalysing this innovative financing mechanism for urban development is not without challenges.
Find out more on the topic of green finance in this side event, which will take the form of a panel discussion, with a view to informing discussions at the 83rd session of the UNECE Committee on Urban Development, Housing and Land Management (CUDHLM), which will be held in San Marino from 3-6 October 2022.
In particular, the event will address questions on:
• The policies, institutions and regulations that provide a conducive environment for catalysing green finance for urban development
• The determinants of bankable green finance projects
• How to improve the cities’ credit worthiness.