ABOUT THE C40 CITIES FINANCE FACILITY
Addressing climate change in cities across the world
Project preparation
of climate change infrastructure projects in cities
Capacity development
of city administrations to mobilise and access multiple financing instruments
Knowledge sharing
between and beyond CFF partner cities via peer-to- peer exchanges and workshops
Partnerships
between cities, financiers and policy-makers
One of the most significant barriers to sustainable urban development is the insufficient access to finance for infrastructure projects in cities, particularly for innovative projects addressing climate change.
Research from the C40 Cities Climate Leadership Group (C40) shows that only 1 in 5 C40 cities are able to borrow from the state, and only 1 in 4 are able to issue municipal bonds. To make matters worse, it is often the cities that are most vulnerable to the effects of climate change that lack access to finance for the very projects that would reduce their vulnerability. This issue is critical and urgent, as an estimated US$4 trillion per year in infrastructure investment is required in developing countries, especially in its cities, to leapfrog the fossil fuel-driven economic development of the past.
The C40 Cities Finance Facility (CFF) bridges the gap between cities and finance. The CFF facilitates access to finance for climate change mitigation and resilience projects in urban areas by providing technical assistance to develop cities’ sustainability priorities into bankable investment proposals. The CFF aims to deliver project preparation and capacity development, and to widely share knowledge and establish partnerships between cities and financiers.
In its third phase (2021 - 2024) the CFF is supporting:
- Lima: Cycling Bridge and Connecting Infrastructure (transport)
- Bogotá: Energy Efficiency and PV Solar Energy for Public Buildings
- Cape Town 1: Green Infrastructure and Improved Catchment Management (nature-basedsolutions)
- Cape Town 2: Paardevlei Solar Farm and Net Zero Carbon Municipal Buildings (energy and building energy efficiency
- Rio de Janeiro: Sustainable Electric Bus Depot (transport)
- Kuala Lumpur: Improving Energy Performance of Council Assets (building energy efficiency)
- Freetown: Cable Car Pilot Project (transport)
- Jakarta: Improving Energy Performance of Hospitals for a Green and Just Recovery in Jakarta (building energy efficiency)
- Medellín: Refurbishment of the Parques del Rio Norte (nature-based solutions)
- Accra: Municipal Solid Waste Source Separation and Community Compost Project (solid waste)
- Salvador: Climate Resilience Infrastructure in Low-Income Settlements (adaptation)
A collaboration of C40 Cities Climate Leadership Group and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The CFF is funded by the German Federal Ministry for Economic Cooperation and Development, the Government of the United Kingdom and the Agence francaise de développement;. The CFF supports cities in developing and emerging economies to develop finance-ready projects to meet the objectives of the Paris Agreement; limiting global temperature rise to 1.5°C above pre-industrial levels and strengthening resilience against the impacts of a warming climate.
Governance
Funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the Government of the United Kingdom and the United States Agency for International Development (USAID), the initiative is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH together with the C40 Cities Climate Leadership Group.
MORE ABOUT OUR PARTNERSCONTACT
If you'd like to get in contact with us, you may email us at contact@c40cff.org. You may also contact us at either address below:
C40 Cities Climate Leadership Group
3 Queen Victoria Street
London, EC4N 4TQ
United Kingdom
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
Potsdamer Platz 10
10785 Berlin
Germany
Partners
C40 Cities Climate Leadership Group (C40)
The C40 Cities Climate Leadership Group connects more than 90 of the world’s greatest cities, representing more than 650 million people and one quarter of the global economy. Created and led by cities, C40 is focused on tackling climate change and driving urban action that reduces greenhouse gas emissions and climate risks, while increasing the health, wellbeing and economic opportunities of urban citizens. The current chair of the C40 is Paris Mayor Anne Hidalgo; three-term Mayor of New York City Michael R. Bloomberg serves as President of the Board. C40 is governed by a Steering Committee made up of C40 member city mayors, elected by their peers to represent the geographic diversity of the network. C40’s work is made possible by our three strategic funders: Bloomberg Philanthropies, Children’s Investment Fund Foundation (CIFF), and Realdania.
German Federal Ministry for Economic Cooperation and Development (BMZ)
The German Federal Ministry for Economic Cooperation and Development (BMZ) develops the guidelines and the fundamental concepts on which German development policy is based. The BMZ’s main focus is on bilateral official development cooperation, i.e. direct cooperation with a partner country. This cooperation may take the form of loans on favourable terms, consultancy and training services, the promotion of private sector investment, grants and scholarships, but also emergency aid. The BMZ commissions the German implementing organisations with executing these projects and programs, and monitors the results of their work. The BMZ also manages Germany's contributions at international level, including its shares in the World Bank and the regional development banks as well as its financial support for the different funds and programmes of the United Nations.
Inter-American Development Bank (IADB)
Through financial and technical support for countries working to reduce poverty and inequality, IADB helps improve health and education, and advance infrastructure. With a history dating back to 1959, today IADB is a leading source of development financing for Latin America and the Caribbean, provides loans, grants, and technical assistance; and conducts extensive research. IADB maintains a strong commitment to achieving measurable results and the highest standards of increased integrity, transparency, and accountability.