Reducing carbon emissions from cities is key to addressing the climate crisis. Cities are now responsible for up to 75 per cent of global greenhouse gas emissions, despite occupying less than 2 per cent of the planet’s surface.
At the same time, there is a massive financing gap – almost US$30 trillion is needed by 2030 to help cities to decarbonise, but only 1 per cent of the annual global climate finance reaches cities, according to the Cities Climate Finance Leadership Alliance.
The COP28 climate summit last year saw nations pledge to “transition away” from fossil fuels – a historic first. But with the planet having already exceeded the temperature rise of 1.5-degree Celsius limit set under the Paris Agreement in 2015, countries must urgently tackle city emissions to avoid further warming, especially as three-quarters of the global population will live in urban centres by 2050.
Cities must rapidly decarbonise by deploying various strategies, from accelerating the energy transition, improving urban planning and infrastructure, electrifying and enhancing public transport systems, managing waste and water resources, and increasing green and blue spaces.
Cities must also be regenerative and develop and implement plans to adapt to rising climate impacts such as permanent temperature increases, sea level rise and extreme weather events.
Robust policy frameworks, the development and deployment of innovative technological solutions, and scaling of successful collaboration models between government, business and citizens will be key to achieving liveable, climate-positive cities.
Cities: Possibilities 2024 – A CapitaLand Sustainability Edition will convene key stakeholders and decision-makers to spotlight solutions to decarbonise the built environment and scale tangible climate action for low-carbon and regenerative cities. The forum will also underline the sustainable investment trends that are shaping the real estate sector, and how climate finance can be mobilised to reduce city emissions.
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