Executive Summary The urgency of sustainable finance for cities in the Global South cannot be overstated, as they face rapid urbanization and increasing climate vulnerabilities. With over half of the global population residing in cities and an even greater share expected to do so over the next three decades—mostly in the Global South—these regions are … read more
The report offers strategies on how national governments can scale up climate action increasing finance for local governments C40 Cities and the Global Covenant of Mayors for Climate & Energy (GCoM) released a report, on Wednesday 19 February, during the Green and Resilient Urbanshift Africa Forum 2025, in Nairobi, titled How National Governments Can Increase … read more
2,508 climate-related projects reported in 611 cities across 75 countries in 2024 Total reported investment needs for projects surged by 23% in 2024, reaching US$86 billion Nearly half (48%) of projects remain in early development stages, requiring technical and financial support Top global sectors of projects seeking financing are buildings & energy efficiency, transport and … read more
Mayors and governors have signed the following open letter directed at African Ministers of Finance during the Green & Resilient UrbanShift Africa Forum in Nairobi, Kenya: Dear Honourable Ministers, As mayors and governors of cities across Africa, we are issuing a collective call for urgent and collaborative action to unlock the finance we need to … read more
Panel on the Coalition for High Ambition Multilevel Partnerships for Climate Action (CHAMP) was a highlight at the Federal Government’s Meeting of New Mayors The Meeting of New Mayors, on Wednesday February 12th in Brasília, highlighted the central role of cities in Brazil’s climate strategy and the essential part they can play in the global … read more
The U20 Summit, held in Rio de Janeiro from November 14 to 17, 2024, concluded with a broad call by mayors and city leaders, including representatives from C40 Cities and the Global Covenant of Mayors for Climate & Energy (GCoM). Their message to national governments and development banks was clear: increase urban climate finance by … read more
It’s with great pleasure that we present the latest edition of the Global Covenant of Mayors for Climate & Energy newsletter, a platform for updates and insights at the forefront of climate change and action. Within these pages, curated contributions from the GCoM Secretariat, GCoM’s dynamic National/Regional Covenants and valued alliance partners, we offer an … read more
From November 25 to 29, 2024, the GCoM-Gap Fund Partnership team joined the CEOs of financial intermediaries from eight African countries, including Côte d’Ivoire, Cameroon, the DRC, Guinea, Madagascar, Mali, Senegal and Togo for the 2024 edition of the Annual Meeting of the African Network of Local Government Financing Institutions (RIAFCO) in Madagascar. Organized by … read more