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COP29 Side Event] International Financial Assistance for Realization of Zero Carbon Cities | News & PR

By Editor in Chief

on Fri Dec 20 2024

reporter

Name Affiliation Title Junko Morizane Environmental Management & Climate Change Group, Global Environment Department

summary

Date: November 12, 2024

Organized by ILBANK

Venue (Pavilion Name):Multilevel Action & Urbanization Pavilion

speaker

Name Affiliation Title Altug Tasdemir Director, International Relations, ILBANK Recep Turk President, ILBANK Sameh Wahba Regional Director, Planet Department, Europe and Central Asia, The World Bank Oltunji Yusuf Principal, Global Practices Partnership Department, Islamic Development Bank Climate Change Kazunao Shibata, Expert, Deputy Director General, Global Environment Department and Head, Climate Change Response Group, Environmental Management, JICA

Background and Objectives

The participants shared their knowledge, experiences and discussed how international aid agencies should provide financial cooperation to sustainably advance urban decarbonization, innovative financing mechanisms and partnership strategies.

Contents

The World Bank noted that the challenge is the lack of bankable projects and the need to provide knowledge on financing, securing maintenance costs, land management, etc., which are lacking at the city level.

The Islamic Development Bank opined that policy support and mutual learning among cities would be effective.

Mr. Shibata, Deputy Director of Global Environment Department of JICA, emphasized the importance of improving readiness through technical cooperation, and using the example of the support to Bangkok Metropolitan Administration in Thailand, stressed the effectiveness of the city-level climate change master planning and human resource development to (1) set targets and identify means to achieve them, (2) strengthen the implementation capacity of means to achieve them, and (3) formulate projects eligible for public and private funding to achieve urban decarbonization. He emphasized the effectiveness of forming projects that are eligible for public and private funding to achieve these goals.

Side events

Group photo of speakers

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© Source JICA