The 2024 State of Cities Climate Finance report (SCCFR)

The 2024 State of Cities Climate Finance report (SCCFR) assesses global urban climate finance flows and needs, highlighting a significant gap between current funding and the trillions required for mitigation and adaptation by 2030 and beyond.

• The majority of urban climate finance is domestic, with 69% sourced and provided domestically. This trend is even more pronounced for private flows, where domestic sources account for 96%. Sub-Saharan Africa is the exception, with 69% of its financing coming from international sources. In contrast, climate finance from developed economies to developing economies is very low, totaling just USD 12 billion, which is less than 2% of the total.
• Cities have massive annual mitigation investment needs: USD 4.3 trillion from now until 2030, increasing to over USD 6 trillion per year from 2031 to 2050. The primary drivers are transport (USD 1.7 trillion annually through 2030), energy (USD 1.2 trillion), and buildings (USD 1 trillion). The regions with the highest annual needs by 2030 are East Asia and the Pacific (USD 1 trillion), Western Europe (USD 978 billion), and the US and Canada (USD 618 billion).
• Adaptation finance needs are harder to project due to data gaps, but cities in emerging markets and developing economies (EMDEs) are estimated to require USD 147 billion per year until 2030 and USD 165 billion per year from 2031 to 2050. The report notes these figures are likely gross underestimations.
• To close the urban climate finance gap, the CCFLA proposes four recommendations: improving the quantity and quality of finance, strengthening domestic markets through strategic public finance, rapidly scaling adaptation finance in EMDEs, and improving data tracking. These are encapsulated in the '4C Urban Climate Finance Agenda': Commitment, Collaboration, Capacity, and Capital Mobilization.

APA

Press-Williams, J., Negreiros, P., Fernandes, P. D. A., Meattle, C., Abdullah, H., Vieira, A., Diaz, J., & Melling, B. (2024). The 2024 State of Cities Climate Finance report (SCCFR). Climate Policy Initiative. https://www.climatepolicyinitiative.org/publication/2024-state-of-cities-climate-finance/

Chicago

Press-Williams, Jessie, Priscilla Negreiros, Pedro de Aragão Fernandes, Chavi Meattle, Hamza Abdullah, Arthur Vieira, Jose Diaz, and Ben Melling. The 2024 State of Cities Climate Finance report (SCCFR). Climate Policy Initiative, 2024. https://www.climatepolicyinitiative.org/publication/2024-state-of-cities-climate-finance/.

Wikipedia

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BibTeX

@techreport{presswilliams20242024, author = {Press-Williams, Jessie and Negreiros, Priscilla and Fernandes, Pedro de Aragão and Meattle, Chavi and Abdullah, Hamza and Vieira, Arthur and Diaz, Jose and Melling, Ben}, title = {{The 2024 State of Cities Climate Finance report (SCCFR)}}, institution = {Climate Policy Initiative}, year = {2024}, month = sep, url = {https://www.climatepolicyinitiative.org/publication/2024-state-of-cities-climate-finance/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }