Intelligent Issue 27 | Page 66


Tomer Shalit , Founder and CPO of ClimateView
The money is there but cities can ’ t access it
Seventy percent of global emissions come from cities through energy use alone . Yet cities are often unprepared to develop investable climate action plans .
The World Bank calculates a global need for green urban infrastructure funding of US $ 4.5 to 5.4 trillion per year . Currently , only about US $ 384 billion of investment is being supplied annually ( figures from 2017 / 18 ).
Public funds are , in many cases , available . In Europe , the EU Commission has allocated hundreds of millions of Euros for 100 Carbon Neutral Cities , conditional on them creating Climate Investment Plans .
Elsewhere , new legislation , like the US Inflation Reduction Act , provides an example of how governments are stepping up their funding commitments for green urban infrastructure .
Private finance is also crucial to drive city transitions . There are trillions of investment dollars looking for projects to drive decarbonisation ( US $ 130 trillion alone has been promised through GFANZ by 2030 ). Fund managers are actively looking for sustainable investments but again cities are struggling to access these funds .
To receive public or private money , cities need to be able to show both the decarbonisation and economic impact these investments will have . Measuring the carbon abatement , economic benefits and costs of every policy in their climate action plan is no easy feat , requiring skilled data handling , systemic modelling and analytics .
The solution
The new Impact Intelligence module gives cities the tools to calculate and visualise a transition ’ s implementation and operational costs . It can also measure the potential carbon reduction and associated co-benefits , such as public health benefits and job creation . This allows the easy comparison and combination of multiple different projects and actions within a climate action plan .
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