COP28: 250 C40 mayors raise $467 million for climate resilience in cities

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COP28: 250 C40 mayors raise $467 million for climate resilience in cities©Global Convenant of Mayors for Climate and Energy

From London (England) to Freetown (Sierra Leone) to Buenos Aires (Argentina), 250 local elected representatives made the trip to take part in the COP28 negotiations. Their collective determination to strengthen the economic and climate resilience of cities is beginning to bear fruit, with 467 million dollars raised on 1 December 2023 alone.

Only five days to go until the close of the 28th United Nations Conference of the Parties on Climate Change (COP28). Mayors will be among the key participants at this year’s event in the Emirates. A total of 250 representatives of local and regional authorities from Africa, Europe, America and Asia are touring the Expo City Dubai pavilions to make their voices heard on panels on the energy transition, gender equality and sustainable transport.

These are all key areas for ensuring sustainable urban growth at a time when most of the world’s metropolises (Lagos, Kinshasa, Beijing, New York, etc.) are not escaping the economic consequences of climate change. In addition to the discussions, local elected representatives managed to raise up to $470 million from foundations such as Bloomberg Philanthropies and donors at the Local Climate Action Summit held in the village during COP28. The initiative was overseen by the C40 Cities Climate Leadership.

 “We are calling for the phasing out of fossil fuels by 2030 and more direct investment in urban areas to accelerate a just transition to tackle the climate crisis. Cities contribute more than 75% of global greenhouse gas (GHG) emissions. Rapid action is needed from all of us if we are to work together to achieve the goals of the Paris Agreement, which aims to keep global temperatures below 1.5 degrees Celsius”, says the UK-based international coalition of mayors.

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The 467 million dollars should therefore make it possible, from 2024, to support the implementation of ongoing projects on energy efficiency, natural disaster management, food security and less polluting modes of transport in a number of municipalities, particularly those in Africa. This is a major step forward for the mayors since their international meeting in Abidjan (Ivory Coast) in 2022, when they called for “more climate financing” from development partners and multinationals.

Benoit-Ivan Wansi

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