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A service for environmental industry professionals · Tuesday, July 23, 2019 · 491,412,848 Articles · 3+ Million Readers

C40 Cities’ Financing Sustainable African Cities Forum calls for urgent investor action to secure a sustainable future for all citizens

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C40’s (www.C40.org) annual event, which took place on Wednesday in South Africa for the first time, gathered city officials and investors to address the most pressing climate challenges of our time; African mayors stated that inspiring citizens to live sustainably is a good start, but systemic infrastructure development enabled by public and private investment is critical to sustainable city transformation; showcasing recent innovations in African cities, experts urged the investment community to recognise the potential of these leading cities and promote inclusive financing models; global collaboration was the consensus: our shared climate mission must transcend national and industry borders.

The transformational potential of African cities, a need for inclusive financing models and our collective responsibility in the global fight for sustainability were key themes of this week’s C40 Cities’ Financing Sustainable African Cities Forum, supported by Citi Foundation, which took place in South Africa for the first time.

The forum provided a high-profile platform for over 50 African city officials to highlight their role as climate leaders, share experiences, challenges and opportunities with investors, government representatives, international stakeholders and not-for-profit organisations, and showcase the need for decisive city-led climate action and the potential of African cities for sustainable infrastructure investment.

Executive Mayor of the City of Johannesburg, Herman Mashaba, took to the stage to emphasise the global scope of our shared fight for sustainability and the vital role of African city investment in progressing this fight: “Some leaders argue that the effects of climate change are the result of years of neglect by developed countries. But we need to focus on what every single nation can do right now to improve our shared future. Let us not delude ourselves; a lack of development does not exempt us from taking responsibility for our collective destiny. Rather than dwelling upon who brought us to this point, we must focus on putting sustainable development front and centre in all of our work”.

James Alexander, Director of the City Finance Programme, C40 Cities Climate Leadership Group, said: “In recent years, the world has started waking up to the potential of cities to save us from climate disaster. Cities are where the action is happening and the global leadership is being shown. However, securing the financing to unlock the potential, impact and innovation of cities is still a key issue, and that’s why it’s so important to bring together city, government and investment leaders through the C40 Financing Sustainable Cities Initiative. By developing financing solutions between city mayors and officials, and the investors who can unlock critical sustainability solutions, we’re building a sustainable urban future for generations to come”.

Key speakers included:

  • Executive Mayor Herman Mashaba, City of Johannesburg

  • Executive Mayor Stevens Mokgalapa, City of Tshwane

  • Honourable Mohammed Adjei Sowah, Mayor of Accra & C40 Vice Chair for Africa

  • Val Smith, Managing Director and Global Head, Corporate Sustainability, Citi

  • James Alexander, Director, City Finance Programme, C40 Cities Climate Leadership Group

  • Jerrod Moodley, Rand Merchant Bank

  • Rose Molokoane, SDI & FEDUP

Panel topics covered financial tools for climate adaptation in cities, the importance of multi-stakeholder partnerships, and aligning inclusivity with sustainability and partnerships to develop clean transportation and energy. The event led into two days of workshop sessions for cities to discuss new ideas for sustainable change, share expertise and determine next steps in their journey to tackle climate change.

Distributed by APO Group on behalf of C40 CITIES.

About C40 Cities: C40 Cities (www.C40.org) connects 94 of the world’s leading cities to take bold climate action, leading the way towards a healthier and more sustainable future. Representing 700+ million citizens and one quarter of the global economy, mayors of the C40 cities are committed to delivering on the most ambitious goals of the Paris Agreement at the local level, as well as to cleaning the air we breathe. The current chair of C40 is Mayor of Paris Anne Hidalgo; and three-term Mayor of New York City Michael R. Bloomberg serves as President of the Board. C40’s work is made possible by our three strategic funders: Bloomberg Philanthropies, Children’s Investment Fund Foundation (CIFF), and Realdania.

C40 Cities’ Financing Sustainable Cities Initiative (FSCI), supported by the Citi Foundation, provides cities with the connections, expertise and technical support to help accelerate and scale up investment in sustainable urban solutions.

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