The C40 coalition of cities, a network of nearly 100 mayors, asked MDBs to increase urban climate investment, integrate urban climate action into their strategies, and implement tailored programs to support city projects.
MANILA, Philippines — City leaders worldwide, including Makati Mayor Abigail Binay and Quezon City Mayor Joy Belmonte, called on multilateral development banks to increase the flow of financing for ambitious climate action in urban areas.
Around 2.5 billion more people are expected to call cities home by 2050. Most of the increase is expected to be highly concentrated in Asia and Africa. “We write to you now to ask you to turn your gaze and your influence to cities to help create an environment in which we can narrow the city climate finance gap and allow cities to take the ambitious climate action that will drive down our emissions,” C40 leaders said.
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