The Cities Climate Finance Leadership Alliance (the Alliance) announced today during ICLEI’s Daring Cities 2020 the launch of its Green City Finance Directory, an open, online resource to help subnational governments and stakeholders identify project preparation facilities (PPFs).
Most cities, especially in developing countries, face challenges in identifying and developing financially viable low-carbon and climate-resilient infrastructure projects which are at the same time attractive to public and private financiers.
PPFs assist cities by supporting activities in the project preparation stage of the project cycle with the goal of successfully connecting them to finance. As a result, PPFs can help cities develop green and resilient infrastructure, including implementing more efficient heating and cooling systems, building renewable energy, setting up sustainable transit, or climate-proofing resilient infrastructure.
“Cities must diversify their funding sources to promote a climate-resilient transition. However, city governments often lack the capacity or resources to transform their climate mitigation and adaptation project ideas into bankable infrastructure projects that will attract private capital,” said Priscilla Negreiros, Program Manager for the Alliance. “The Green City Finance Directory will help fill this gap by making information on how to access these PPFs easily accessible.”
Developed in partnership between the Alliance and the Penn Institute for Urban Research, the Green City Finance Directory is the first and only directory of PPFs targeted to help cities access sustainable finance. The Directory will be translated to several languages in 2021.