A new report titled ‘Accelerating Low-Carbon Development in the World’s Cities’, produced by the New Climate Economy, has found that investing in low-carbon urban actions, such as public and low-emission transport, waste management, and building efficiency in cities could generate savings of over EUR 15 trillion euro (US$ 16.6 trillion) by the year 2050.
Given the potential level of savings involved, international city networks, such as the C40 Cities Climate Leadership Group, Local Governments for Sustainability (ICLEI) and United Cities and Local Governments (UCLG), are scaling up the sharing of best practices and developing initiatives to facilitate new flows of finance, enabling more ambitious action on climate change, the report states.
The Global Commission on the Economy and Climate recommends that cities commit to developing and implementing low-carbon urban development strategies by 2020, using where possible the framework of the Compact of Mayors, prioritising policies and investments in public, non-motorised and low-emission transport, building efficiency, renewable energy and efficient waste management.