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Cities need funding to make most of green growth, says CDP

Posted at June 8, 2012 » By : » Categories : News » Comments Off on Cities need funding to make most of green growth, says CDP

The world’s cities have significant opportunities for green growth but need funding to make the most of them, according to the Carbon Disclosure Project (CDP).

The CDP’s latest report out today says that 82% of cities have identified potential economic growth associated with climate change mitigation and adaptation, but less than a third expect to receive funding to take action.

London, for example, hopes to create some 200,000 green jobs in the process of cutting carbon emissions 60% by 2025, while Los Angeles is focusing and promoting green technology and Yokohama has plans for new industries.

The analysis by AECOM looked at the carbon and water strategies of 73 cities around the world, including Berlin, Madrid, New York, Paris, Tokyo and Sydney as well as London and Los Angeles, which account for nearly 1 billion tons of CO2e.

Nearly a third of those cities expect to see improved energy efficiency in the future and a fifth recognise that more energy security will come with climate change actions.

But most of all, over half of cities anticipate new ‘green’ jobs and new businesses as a result of moving to a low-carbon economy.

Ahead of the United Nations Conference on Sustainable Development, Rio+20, CDP says that the “compelling economic drivers” for taking action on climate change should be used to increase the access of cities to funding.

According to the CDP, currently less than 1% of city-associated emission reduction activities are supported with financing from world development banks like the World Bank.

“Cities are major players in the fight against dangerous climate change,” says Conor Riffle, head of CDP’s cities programme. “Cities are hubs of innovation and effective units for managing emissions reductions; increasing their access to climate finance could help achieve the gigaton-scale solutions required.”

For further information:
www.cdproject.net
www.aecom.com
www.c40.org

Related stories:
Los Angeles tops list of cities with the most Energy Star buildings (12-Apr)
Washington DC buildings LEED the way (23-Jan)
C40 announces plans for global standard for emissions from cities (2-Jun 2011)

Article source: http://www.energyefficiencynews.com/i/5164/

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