Closing the funding gap for green urban infrastructure
Innovative forms of finance such as blended deals are one way to unlock progress - with NGOs, governments, the private sector and insurers working together.
THE clock is ticking on climate change. Temperatures are rising, sea levels are going up and we have more greenhouse gases in our atmosphere than at any time in human history.
In a rapidly urbanising world, where two out of every three people are forecast to live in cities by 2050, this is a formidable challenge. Unless we act fast, 800 million people living in low-lying coastal cities - particularly in Asia and the US coast - will be hit by sea level rises and coastal flooding by 2050 according to the UN. And according to the Urban Climate Change Research Network
(UCCRN) technical report, as many as 1.6 billion city-dwellers will suffer the effects of extreme heat and 650 million will find it more difficult to access fresh water.
Copyright SPH Media. All rights reserved.
