A new UN-led initiative to help finance cities to become more sustainable and resilient was launched at the Climate Summit in New York. The Cities Climate Finance Leadership Alliance, founded by 20 organisations including The Gold Standard, World Bank and Bank of America, will stimulate investment into low carbon and climate resistance urban infrastructure.

Cities today face extraordinary challenges due to growing populations and the impacts of climate change. Urban populations are increasing rapidly: cities are growing by nearly 180,000 people every day. By 2030, urban areas will be home to almost five billion people, more than sixty percent of the global population. Many cities are also struggling with outdated or inadequate infrastructure. Growing populations, especially in developing countries, are increasingly straining the capacity of these systems.

The members of this Alliance share a common goal of accelerating investment in low carbon and climate resilient urban infrastructure to address this growing population and the impacts from climate change.

For The Gold Standard Foundation this is an important issue. “We strongly believe that transforming city infrastructure will play a critical role in combatting climate change, whilst helping to address growing inequality and poverty.” Stated Adrian Rimmer, CEO of The Gold Standard Foundation. “But the financing gap remains enormous. This Alliance brings together leading organisations and experts in the field of finance and sustainable cities and by working collaboratively we can create an enabling environment for investment to flow into these much needed areas.”

For more information about this Alliance:
The Cities Climate Finance Leadership Alliance – Action Statement [PDF]

For more information about The Gold Standard’s work with sustainable cities, please visit:
The Gold Standard Cities Programme
New funding structures to deliver clean energy and development in cities
Financing cities of the future: Tools to scale up clean urban development