Innovative Finance at COP28

This November and December, the United Nations Climate Change Conference COP28 will take place in Dubai, UAE. Innovative Climate and Sustainable Finance is key component for local and national governments to reach climate targets by financing sustainable economic development.

 

The Transformative Actions Program (TAP) and its partners will be represented in a range of events, from investing in a resilience future to urban financing opportunities to accelerate multilevel action for just transition and resilience. Join ICLEI and UN-Habitat and other partners at the COP28 Multilevel Action & Urbanization Pavilion.

 

The Multilevel Action & Urbanization Pavilion will serve as the global stage for the city and subnational climate agenda at COP28. The Pavilion will bring into focus not only the challenges and needs, but also the accomplishments and commitments of local and subnational actors on a variety of climate action fronts, including climate finance. The Pavilion is co-convened by UN-Habitat and ICLEI in its role as the focal point of the Local Governments and Municipal Authorities (LGMA Constituency) and is co-hosted by the Scottish Government and Bloomberg Philanthropies, in partnership with the Global Covenant of Mayors for Climate & Energy (GCoM) and C40 Cities.

Learn more and subscribe to daily updates from COP: 

https://www.cities-and-regions.org/multilevel-action-and-urbanization-pavilion/

Events at COP28

OPENING: WORLD (LOCAL) CLIMATE ACTION SUMMIT

1 December 2023, 16:15 - 17:15, Al Waha Theatre, Blue zone

Organized by: Michael Bloomberg, C40

Abby Binay – Mayor, Makati, Philippines, ICLEI Global Executive Committee Innovative Financing Portfolio Holder as Plenary Speaker

High-level event on NDC and NAP

2 December 2023, 9:00 - 10:00, Philippine Pavilion

Abby Binay – Mayor, Makati, Philippines, ICLEI Global Executive Committee Innovative Financing Portfolio Holder

Dollars and Sense: How Multilateral Development Banks (MDBs) Can Scale the Green Transition

2 December 2023, 13:45 - 15:15, UNFCCC Action Arena 2 Al Wakr

Organized by Michael Bloomberg, C40

Abby Binay – Mayor, Makati, Philippines, ICLEI Global Executive Committee Innovative Financing Portfolio Holder as Panelist

Finance Ambition Loop Dialogue (Finance Breakfast meeting)

3 December 2023, 8:00 - 8:55, Action Lab - Al Jeer - in Global Climate Action Hub, Blue Zone, at COP28

Co-hosted by the High-Level Champions HE Razan al-Mubarak and Dr. Mahmoud Mohieldin, with the Executive Secretary of UNFCCC Simon Stiell.

Abby Binay – Mayor, Makati, Philippines, ICLEI Global Executive Committee Innovative Financing Portfolio Holder

ICLEI responding to Climate Emergency in the Global South

4 December 2023, 08:30 - 09:30, Multilevel Action & Urbanization Pavilion

Organized by ICLEI regions in the Global South

Watch live

UNCDF-ICLEI highlevel event: Launch of City Bridge Facility

4 December 2023, 10:00 - 11:00, LGMA Pavillion

Organized by: ICLEI & UNCDF

Agenda:

10-10.10am Opening Remarks
Mr. David Jackson, Director of Local Transformative Finance, UNCDF
Mr. Gino Van Begin, Secretary General, ICLEI

10.10-10.20am Presentation on City Bridge Facility
Dr. Eszter Mogyorósy, Head of Innovative Finance, ICLEI

10.20-11am Panel Discussion
Moderator: Mr. David Jackson, Director of Local Transformative Finance, UNCDF
H.E. Mr. Lamin B. Dibba, Permanent Representative of the Gambia to the UN
Ms. Carmen Vogt, Head of Section Cities, GIZ
Ms. Luciana Costa, Director of Infrastructure, Energy Transition and Climate Change, Brazilian Development Bank (BNDES)

Watch Live

Cities on a Mission: unlocking net-zero, resilient future of urban transitions

4 December 2023, 11:30, COP28 MUAP Pavillion

Organized by UTM

Dr. Eszter Mogyorosy, Head Innovative Finance ICLEI World Secretariat as Speaker

From commitment to delivery: Financing multilevel action

5 December 2023, 14:30 - 15:30, Multilevel Action & Urbanization Pavillion

Watch Live

Empowering cities through green capital

5 December 2023, 14:40 - 15:00, Climate Action Innovation Zone

Organized by Sustainable Innovation Forum

Dr. Eszter Mogyorosy, Head Innovative Finance ICLEI World Secretariat as Speaker

Cities account for over 70% of global CO2 emissions and they form a vital intersect between economies and social activities. Therefore, access to green finance must be made readily available for all cities to reduce emissions, promote health and drive sustainable development.
– What green finance mechanism can support cities in the clean transition?
– How can private-public sector partnerships unlock funding for green city projects?
– What role can governments play with green incentives and subsidies?
– What multilateral development bank reform is required to accelerate green city finance in the global south?

Strengthening Urban Disaster Resilience for a Changing Climate

5 December 2023, 15:45 - 17:00, Multilevel Action & Urbanization Pavillion

Watch Live

Turbocharging EMDEs’ Energy Transition by Addressing Local Currency Risk in Green Bonds

6 December 2023, 14:00 - 15:15, IRENA Pavilion at COP28 – First Floor

Organized by CGEP and IRENA

Dr. Eszter Mogyorosy, Head Innovative Finance ICLEI World Secretariat as Speaker

Seizing & Catalyzing the Urban Financing Opportunity To Accelerate Multilevel Action for Just Transition & Resilience

6 December 2023, 16:00 - 17:00, Room Lab 2 (Al Jeer)

Organized by Marrakech Partnership for Global Climate Action

Abby Binay – Mayor, Makati, Philippines, ICLEI Global Executive Committee Innovative Financing Portfolio Holder as Speaker

NDC implementation through sector coupling: How to finance integrated approaches towards low carbon urban development

8 December 2023, 10:00 - 11:00, Multilevel Action & Urbanization Pavillion

Watch Live

Tap numbers

Number of projects submitted

350+

Value of the TAP pipeline (billion €)

1.2+

Projects in the TAP Pipeline

65

Specialized TAP partnerships

16

The tap work is

  • Developing publicly accessible guidelines, publications, and training materials related to project preparation
  • Lowering the barrier to effective and efficient cooperation between local and regional governments, and public and private financial institutions.
  • Building trust among local and regional governments, financial institutions, and investors to lower risk.
  • Contributing to the creation of new financing mechanisms and the improvement of existing instruments.
  • Strengthening the impact of local climate projects and better position local and regional governments to attract investment and funding.
  • Raising the visibility of transformative actions and innovative local financing mechanisms to encourage investment, funding, and replication.

What they say about us

  • Makindye Ssabagabo was elevated to a municipality in 2016, raising the community's expectations who anticipated immediate quality services. We identified the critical projects but were resource-constrained. Through TAP, we have fine-tuned key project concepts and interacted with potential funders.

    Kivumbi Alex
    Kivumbi Alex Head of Innovation and Resource Mobilisation committee, Makindye Ssabagabo Municipal Council, Uganda
  • The exposure and feedback we received from the financial experts were very constructive in helping us to develop our project proposal even further.

    Rulien Volschenk
    Rulien Volschenk Environmental Management Officer, Overberg District Municipality, South Africa
  • As a project developer and manager in the city of Bukavu (DR.Congo), one thing I could not realize is that I was having limited knowledge about the needs and requirements of funders.

    Venance Alwende François Project Developer and Director of the Mayor’s International Relations Office, Bukavu, D. R. Congo
  • Listening to the pitches [of local governments’ climate projects] has been very insightful for us, as we focus on early-stage project preparation. On the one hand, we got insights into a number of projects presented by very different actors with their own points of view on project preparation. On the other hand, we got a better understanding of the difficulties these diverse actors encounter, which we can take into account when developing trainings or providing support to municipalities.

    Susann Mende
    Susann Mende Senior Policy Advisor, Covenant of Mayors in Sub-Saharan Africa
  • We learned a lot about challenges on the ground and discussed ways to improve the overall planning process. A key factor is early-stage community engagement and the usage and implementation of social and environmental safeguards.

    Arne Janssen
    Arne Janssen Urban Environment Specialist, Cities Alliance
  • The prospects of Makindye Municipality in Uganda to access climate funding for its Rail project were boosted after the project was showcased at the Daring Cities Event 2020.

    Kivumbi Alex
    Kivumbi Alex Head of Innovation and Resource Mobilisation committee, Makindye Ssabagabo Municipal Council, Uganda

Why the TAP?

Funds for climate projects are available and investors are ready; however, there is shortage of bankable projects.

A “bankable” project is not just “profitable”: it quantifies the projected positive outcomes, such as social or environmental benefits, and has clear mechanisms for implementation and evaluation.

The TAP therefore strives to help local governments’ projects improve their bankability by increasing their visibility to potential investors, connecting them to project preparation facilities, or helping them connect with specifics tools or services that can increase the maturity of their proposed concept.

The four TAP pillars

TAP pipeline

The TAP Project Pipeline serves as an incubator, collecting and screening applications based on their “transformative” potential. TAP projects bearing the TAP seal of approval can benefit from TAP Services, connect to project preparation facilities, and be displayed on the TAP and other platforms.

TAP Services

Local and regional governments have access to tailor-made services from ICLEI and TAP partners during the whole project cycle, from early stage project definition to long-term mentoring, with the aim of developing robust and bankable project concepts. TAP partners engage either financially or technically, supporting capacity building, developing feasibility studies, and guiding the finance and design of sustainable and resilient infrastructure.

TAP Platform

The online TAP Platform displays select applications in the pipeline in a centralized, uniform format that optimizes visibility to potential investors and funders.

It is a first stop for funders as well as local and regional governments seeking information on ambitious and transformative local infrastructure projects committed to low-to-no emission and climate-resilient development.

TAP advocacy

TAP is an advocacy tool that presents the demand and diversity of local infrastructure projects, promotes multi-level governance, and  calls for effective financing mechanisms to scale up climate action.

Through its four pillars, the TAP works to:

  • Provide evaluation, feedback, and quality assurance services for transformative action project proposals.
  • Lower the barrier to effective and efficient cooperation between local and regional governments, and public and private financial institutions.
  • Build trust among local and regional governments, financial institutions, and investors to lower risk.
  • Contribute to the creation of new financing mechanisms and the improvement of existing instruments.
  • Strengthen the impact of local climate projects and better position local and regional governments to attract investment and funding.
  • Raise the visibility of transformative actions and innovative local financing mechanisms to encourage investment, funding, and replication.
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.