Investing in climate infrastructure in cities has never been more important. According to data published by CDP, the opportunity to invest in these projects is growing and urgent.
Insights in CDP’s Global Snapshot, launched November 2023, highlight the infrastructure priorities of over 1,000 cities reporting their environmental data through CDP-ICLEI Track in 2023, and show that 636 cities in 86 countries disclosed 2,346 climate-related infrastructure projects. Reporting through CDP is critical to emphasising climate finance needs in cities and demonstrating city priorities. Figures from 2023 showcase a leap in demand for finance, with a 52% increase in the number of projects reported to CDP-ICLEI Track compared to 2021 (1,541 projects).
These projects, worth $146 billion, are seeking $65 billion worth of investment to be delivered. However, these figures are conservative estimates of the real state of global needs – for example, the UN estimates that by 2030, Global South countries need investments far beyond $2 trillion a year to meet their sustainable development goals and to effectively tackle climate change.
Explore the latest ‘Accelerating Climate Finance in Cities’ briefing, in partnership with the Global Covenant of Mayors for Climate & Energy (GCoM), highlighting the key takeaways and calls to action from CDP’s 2023 Global Snapshot.
