Money
Unlocking Climate Finance: C40 Cities Finance Facility Empowers Global South Cities to Tackle Urgent Challenges
2024-11-15
The C40 Cities Finance Facility (CFF) is spearheading a transformative initiative to support cities in the Global South in their quest to address the pressing challenges of climate change. This award-winning project preparation facility, jointly implemented by GIZ and C40, is inviting cities to submit their innovative proposals for climate action infrastructure projects that will drive sustainable development and improve the lives of their residents.
Empowering Cities to Lead the Way in Climate Action
Bridging the Climate Infrastructure Gap
As the CFF enters its tenth year, the climate infrastructure gap remains a pressing concern. However, with the support of the CFF, mayors and cities across the world are leading the way with finance-ready, transformative solutions to halt climate breakdown and improve the lives of their residents. The CFF has partnered with 30 cities across four regions, successfully developing 36 transformative urban climate infrastructure projects and leveraging over $1 billion in climate finance.Driving a Just Transition
Working with cities in the Global South to take bold climate actions is central to C40 Cities' mission. The CFF's latest call for city applications offers a crucial opportunity for these cities to access the technical support they need to advance key infrastructure priorities and deliver on a just transition. By empowering cities to lead the way, the CFF is ensuring that the benefits of climate action are equitably distributed, addressing the impacts and injustices of climate breakdown.Securing Significant Funding Commitments
The CFF has secured significant follow-on funding commitments from the German Federal Ministry for Economic Cooperation and Development (BMZ), the United States Agency for International Development (USAID), and the United Kingdom's Foreign, Commonwealth and Development Office (FCDO). This multi-million dollar funding will allow the CFF to expand its impact and support cities in the Global South through 2027, ensuring a sustained and impactful effort to address the climate crisis.Inviting Innovative Project Proposals
The Urban20 (U20) summit in Rio de Janeiro marked the official launch of the CFF's Call for City Applications. The first round of shortlisted projects is expected by February 15, 2025. The CFF is encouraging project applications covering infrastructure in critical climate resilience and mitigation areas, including nature-based solutions, green and blue infrastructure, renewable energy and buildings, sustainable mobility, as well as water and waste management. These transformative projects will be a crucial step in driving a just and sustainable future for cities in the Global South.Empowering Cities to Lead the Way
By putting cities in the lead, the CFF is empowering them to prepare and implement urban infrastructure projects that address the impacts and injustices of climate breakdown and make a real difference to people's lives. As the CFF enters its tenth year, the call for city applications marks a significant milestone in the ongoing effort to support cities in the Global South in their quest to tackle the urgent challenges of climate change.