Transitioning to climate-neutral and sustainable cities can save billions and improve citizens' quality of life. Yet the transition is too slow. Climate investment plans facilitate the planning of the transition, from the current situation to actions and who will pay.
Many of the actions needed to drastically reduce greenhouse gas emissions can bring added benefits that contribute to a better quality of life, such as cleaner air, greener surroundings and less noise. While climate action can be virtually free, it can also cost a lot. How much it costs depends on the solutions we choose to use and whether we change our behaviors and habits.
Research shows that while municipalities have both strong political commitment and climate action plans with clear targets, the plans have lacked a description of the financial resources needed for implementation. Viable Cities, together with experts from the Stockholm Environment Institute (SEI), is developing climate investment plans. It is a five-step methodology and tool that concretely shows what investments are needed, and by whom, to reach the climate goals in a municipality's geographical area.
Fedra Vanhuyse is a Finance and Procurement Strategist at Viable Cities and Head of Department at SEI.
- "The Viable Cities Finance dashboard tool is an easy way to see the potential impact of different climate actions, what they cost and who needs to make the investment," says Fedra Vanhuyse. "If you swap a challenging behavioral change for a technical solution to reduce carbon emissions in the tool, you immediately see how the costs increase drastically.
The work on climate investment plans is a central part of the local transition journey, it is one of three components of Climate City Contract 2030. The others are 1) Clear climate goals and an infrastructure to be able to make the necessary efforts and 2) A climate action plan - a portfolio of actions that align with the goal.
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Read more and watch Fedra explain what climate investment plans are and how to use them.
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During Transition Lab Forum 17 in Lund, we explore the roles of different actors in creating the conditions for finding the financial means and investments needed for a faster climate transition hand in hand with climate adaptation.
Transition Lab Forum Live will be livestreamed on Wednesday 12 March at 10-12 for everyone who wants to take part in the work that is taking place within the Climate Neutral Cities 2030 initiative. The live part is open to everyone and it is free to participate. Register here.
