The 2024 State of Cities Climate Finance report (SCCFR)

The 2024 State of Cities Climate Finance report (SCCFR) reveals a significant gap between current urban climate finance flows and the trillions of dollars required for mitigation and adaptation. While 69% of urban climate finance is sourced domestically, international flows from developed to developing economies remain low at USD 12 billion. Mitigation needs are dominated by transport, energy, and buildings, with East Asia and the Pacific having the highest annual requirements. The report advocates for the '4C Urban Climate Finance Agenda'—Commitment, Collaboration, Capacity, and Capital Mobilization—to scale finance and improve data tracking.

• Domestic sources provide the majority of urban climate finance, accounting for 69% of total flows and 96% of private flows. Sub-Saharan Africa is the only region where international sources are the primary provider, accounting for 69% of its financing. Conversely, flows from developed economies to developing economies are minimal, totaling less than 2% of the total at USD 12 billion.
• Cities require an estimated USD 4.3 trillion annually for mitigation from now until 2030, increasing to over USD 6 trillion per year from 2031 to 2050. The primary drivers of these needs 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 mitigation 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 for cities in emerging markets and developing economies (EMDEs) are estimated at USD 147 billion per year until 2030 and USD 165 billion from 2031 to 2050, though these figures are likely underestimations due to data gaps and model limitations.
• To close the urban climate finance gap, the report recommends improving the quantity and quality of finance, strengthening domestic markets through strategic public finance, rapidly scaling adaptation finance in EMDEs, and enhancing the tracking of finance flows and needs. These efforts are encapsulated in the proposed '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} }