Urban Innovation

Urban Innovations: 40

Innovative finance for sustainable cities - empowering Asian cities to access capital

Day 2 – Wednesday, 16 October 2019
15:30 - 17:00
Function Room 12
Moderator(s)
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Presenter
Nora Steurer
Speaker(s)
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Panelist(s)
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Lead Organization
Pole Carbon Asset Management Ltd.
Partner Organizer(s)
  • South Pole Carbon Asset Management Ltd. (based in Switzerland)
  • Thailand Greenhouse Gas Management Organisation (TGO), Ministry of Natural Resources and the Environment (based in Thailand)
  • CDP Asia-Pacific (based in Hong Kong)
  • The World Bank, Climate Change Group (based in the United States)
Lead Organizer(s)
Synopsis

Substantial investments will be required in Asian cities as the region is experiencing significant population and urbanisation increase while being amongst the areas most vulnerable to climate change risks. However, only 15% of global climate finance reaches cities. This is due to their low credit worthiness, limited number of bankable projects, difficulty in accessing existing financing and limited administrative capacity. Therefore, there is a significant need for innovative financing solutions, tailored to the needs and governance of cities, that can help realize efficient response to the urban challenges at hand. This session will discuss a range of promising solutions to catalyse finance for the cities’ climate actions, their lessons learned and opportunities to scale up their application across the Asia-Pacific region. These solutions include platforms and support programmes that connect cities and finance experts to help develop bankable projects (City Finance Lab, Matchmaker, CapaCITIES), carbon market mechanisms (Thailand Greenhouse Gas Management Organization (Public Organization)) and emerging financing mechanisms such as climate auctions (The World Bank Group).

Objectives of the Session
Introduction of the Topic
Guiding Questions
Country

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Join us at the seventh session of the Asia-Pacific Urban Forum (APUF7) in Penang, Malaysia from 15 to 17 October 2019