The C40 Cities Climate Leadership Group and the World Bank announced a new partnership that will help cities speed up reduction of greenhouse gas emissions and become more energy efficient. The C40, headed by NYC Mayor Michael Bloomberg, signed the agreement with the World Bank Group in Sao Paulo, Brazil on June 1.
“The leaders of C40 Cities – the world’s megacities — hold the future in their hands,” said Mayor Bloomberg in a press release. “This unique partnership with the World Bank will help solve many of the problems that cities face in obtaining financing for climate-related projects, both from the World Bank and other lenders. It will also make it easier for C40 cities to access the resources of the World Bank.”
Although details are still being ironed out, the agreement proposes various climate related plans and strategies that allow for a stronger partnerships between cities on shared climate goals. It also promotes the creation of green opportunities for investors to take part in across different cities.
The C40 and the World Bank will also establish a common method of measuring and reporting on city greenhouse gas emissions “to allow verifiable and consistent monitoring of emissions reductions, identify actions that result in the greatest emission reductions, and facilitate access to carbon finance.”
The main goals of the new partnership are to allow major cities worldwide to consider green alternatives and sustainability goals as ways to strengthen local economies, and thus, reduce poverty and improve standards of living. The partnership also seeks to address any financial issues related to green investments, which may arise in cities who are willing to invest, but are economically less capable of doing so.
Given many of the green initiatives taking place in NYC, it’s no surprise that Michael Bloomberg is leading the way promoting an international movement of green cities. The concept of green investments for economic improvement is nothing new, and is current being implemented here in New York thanks to PlaNYC. We’ve said it before here on Inhabitat many times – NYC is leading the way towards a greener and more sustainable future.