Investing for rapid decarbonization in cities

Cities offer some of the best opportunities for decarbonization. And a few sectors such as buildings, transport, water, and waste have the greatest potential for high impact decarbonization investments. Creating an enabling environment for cities to invest heavily to achieve systemic transformations in these sectors is essential for meeting the less than 2 °C target of the Paris Agreement in view of an urban population growing by approximately 1.4 million weekly. Unfortunately, significant barriers exist for these investments to grow at the required pace. The good news is that there are many initiatives such as the alliance of cities that have committed to achieving 80 percent reductions of GHG emissions by 2050, networks such as the C 40 network of city mayors from around the world that connect leaders and undertake research and programs to help cities implement low carbon and climate resilience strategies, and those of major private and institutional investors committed to ramp up their low carbon investments. Furthermore some 110 Paris Agreement country commitments include actions in cities with a focus exactly on those sectors with the greatest potential for decarbonization.