During the UNFCCC COP22 meeting in Marrakech, the issue of finance was raised repeatedly, especially finance at the local level. Identifying catalytic and innovative urban resilience to better match them with finance opportunities is the central motivation behind a new grant from Cities Alliance to ICLEI – Local Governments for Sustainability in support of the Transformative Action Program - TAP.
As part of the project ICLEI will work in collaboration with the World Bank to support cities in developing bankable resilience projects.
The TAP is an initiative by networks of local and subnational governments to accelerate the implementation of local action to tackle climate change. The new grant from Cities Alliance to ICLEI is devoted to the support of more robust city resilience projects and linking resilience projects to appropriate funding mechanisms.
The main objective of the project is to catalyse access to finance that will enhance cities’ ability to reduce exposure and vulnerability to multiple shocks and stresses and increase their resilience and adaptive capacity. The project aims to increase the capacity of cities to develop feasible, inclusive, and bankable resilience projects. These may include, for example, actions for climate change adaptation, disaster risk reduction, and pro-poor urban development. Secondly, it aims to connect projects with potential funders and implementation partners, facilitating improved access to resilience finance and contributing to the elaboration of new finance mechanisms.
The project will be implemented under the Cities Alliance Joint Work Programme on Resilient Cities, whose objective is to 'strengthen global partnerships and local resilience strategies to facilitate the flow of knowledge and resources to enhance city resilience tools, approaches, and capacity development interventions within long-term urban planning processes that also address informality and the working urban poor’.
Other partners of the Transformative Action Programme include UCLG, C40, AfD, R20, GEF, OECD, GIB, UN-Habitat, The Climate Group, WWF, WRI, FMDV, AIMF and the Carbonn Climate Registry.