Bonn, November 14, 2017 – As the leaders gather in Bonn on the occasion of the UNFCCC COP23 and in particular on the occasion of the first ever Project Preparation Practitioners’ Forum organised with the Cities Climate Finance Leadership Alliance (CCFLA) members and partners on November 14, CCFLA and Sustainable Infrastructure Foundation (SIF) are pleased to announce that they are joining forces to foster the implementation of the following actions of CCFLA’s mandate: a) strengthen the capacity of local and regional governments to support the process of project preparation and their funding; b) integrate the local and regional dimensions in the undergoing mutation of the global financial ecosystem; and c) support capitalisation, transfer of knowledge and practices, and access to available funding sources and to their engineering.
This partnership echoes the launch of the 2017 edition of CCFLA’s flagship report “Localizing Climate Finance, Mapping Gaps and Opportunities, Designing Solutions,” which presents an overview of CCFLA members contribution to close the investment gap for cities and urban regions worldwide and suggests a way forward to accelerate the movement.
In this framework, SIF brings to the disposal of CCFLA’s stakeholders, SOURCE – an advanced project preparation solution, which provides support to national and subnational governments and public agencies in improving infrastructure project bankability, quality and delivery; in increasing investment and crowding-in private finance; and in strengthening their technical capacity and ability to manage risks.
SOURCE is a global collaborative project preparation platform that encompasses the whole project lifecycle; including the preparation, procurement, development and operating phases and covers the governance, technical, economic, legal, financial, environmental and social dimensions of the project definition.
SOURCE’s ultimate goal is to contribute to bridging the global infrastructure gap and developing sustainable and resilient infrastructure. Towards this objective, SOURCE unveiled in September 2017, on the occasion of its latest upgrade, a reinforced structure that further integrates the resource and energy efficiency, environmental impact and climate mitigation dimensions of the project development.
Carlos de Freitas, Co-Director at FMDV emphasised, on behalf of CCFLA, “SOURCE is a powerful tool that will trigger the creation of an ecosystem of funds, engineering and projects which contributes to the implementation of the Sustainable Developments Goals (SDGs) and the Paris Agreement. This joint collaboration represents a strategic step in the implementation of the Roadmap of Actions of Marrakech¹ for localising climate finance.”
Christophe Dossarps, CEO of SIF-SOURCE added, “SOURCE has been designed to support national and subnational governments infrastructure project preparation capacities, to take into account local constraints and regulations and meet the requirements of the project preparation of all sizes. As such, SOURCE represents a valuable tool to support CCFLA’s recommendation’s² to develop and improve coordination of project preparation facilities, mobilise investment in climate-resilient urban infrastructure, thereby allowing creation of bankable projects and further capacities to attract investment, and roll out investment programmes at subnational and local levels.”
About Cities Climate Finance Leadership Alliance
The Cities Climate Finance Leadership Alliance (CCFLA) was launched at the United Nations Secretary-General’s Climate Summit in September 2014. It is a coalition of 50 organisations actively working to catalyse and accelerate investment into low-carbon and climate-resilient infrastructure in cities and urban areas.
The Alliance brings together a diverse group of public and private institutions that do not usually work together to develop a common understanding of subnational climate finance. It facilitates collaboration that reinforces and expands the impact of members’ own activities to achieve macro-scale solutions for mobilising investment in low-carbon, climate resilient urban infrastructure.
Alliance members include public and private finance institutions, governments, United Nations and technical support agencies, city and subnational networks and associations, research and other non-governmental organisations and philanthropic foundations. Members communicate frequently and share the information needed to progress the mission. The Alliance is based on open, honest, and trusting relationships between its members and considers the differences among members as a strength to be used strategically.
The Alliance adds value by leveraging the work, knowledge, and expertise of its members, designing its work priorities to be catalytic, to fill gaps and avoid duplication. Its core value propositions include: Advocacy and raising visibility; Scaling-up successful financial products; Growing pipelines of bankable projects; Creating enabling environments; Catalysing and brokering partnerships; and coordinating and manage research & knowledge.
The Alliance is coordinated through the work of a Steering Committee, a Secretariat co-coordinated by FMDV in partnership with R20, UN Environment and UN Development Program, and a range of Working Groups made up of Alliance members.
More information is available at: http://www.citiesclimatefinance.org/
¹ In the context of the Climate Summit for Local and Regional Leaders – Financing the sustainable mutation of Territories that took place on November 14, 2016, during the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22), the leaders of 114 countries adopted the Marrakech Roadmap for Action for a Global Action Framework towards localising Climate Finance. The leaders mandated the Cities Climate Finance Leadership Alliance (CCFLA) to ensure the implementation of the recommendations of the Roadmap for Action of Cities and Regions for Climate.
² CCFLA’s 2015, State of City Climate Finance report