Green finance for Smart Cities
How to attract investment for a sustainable growth?
Several Mexican cities such as Naucalpan and Valle de Bravo (State of Mexico), Zapopan (Jalisco) and Hermosillo (Sonora) want to accelerate their transition to a sustainable growth with low-carbon solutions and smart technologies.
To achieve this, they have joined the Green Finance for the Development of Smart Cities project, an initiative funded by the UK PACT Programme (United Kingdom Partnering for Accelerated Climate Transitions). The latter has enabled the cities to strengthen their capacities in identifying, assessing, selecting and preparing climate change mitigation and sustainable development projects, to access funding sources or to create innovative business mechanisms.
Over the course of one year, IDOM has accompanied the authorities in the technical and financial maturation process of nine projects in the following sectors: Renewable energy and energy efficiency, mobility and transport, waste management and recovery and water management.
The aim is for these projects to reach an optimal level of maturity and to be able to attract public and private investors, as well as national and international development banks.
The development of these works has involved several training sessions and thematic webinars, case studies and a final report.
July 3, 2020
What should projects be like?
To accelerate the flow of capital for the implementation of local green actions, each project must be a solution:
- climatic and smart, capable of effectively reducing greenhouse gas emissions, and digitally enabled.
- feasible, in terms of strategic and political alignment and that does not generate any negative impact on the environment and society
- technically and economically feasible, in order to access previously identified funding and
- transformational and with high potential for scalability and replicability.
Mariana Silva Paredes ( email@example.com )