The State of Cities Climate Finance 2024

The 2024 State of Cities Climate Finance Report (SCCFR) provides a comprehensive global assessment of how much climate finance is currently flowing to cities, how much more is needed, and what barriers must be overcome to meet climate goals. It highlights that cities play a crucial role in the global climate transition but face major financing gaps. With rapid urbanisation and rising exposure to climate risks such as floods and extreme heat, the report emphasises that annual urban climate finance must increase more than fivefold to align with a 1.5°C pathway.

Building on the 2021 SCCFR, this edition offers updated and more granular data to track trends in city-level climate finance, identify investment opportunities in low-emission and resilient infrastructure, and support the Cities Climate Finance Leadership Alliance (CCFLA) goal of mobilising large-scale finance for city climate action by 2030.

In summary, it’s about understanding and closing the climate finance gap for cities so they can effectively drive the global transition toward resilience and decarbonisation.

Abstract based on original source.