Mayor Tau is certain that the model could be extended to other cities. The city launched a highly successful green bonds program that was 150% oversubscribed at the 2014 bond auction, illustrating even larger potential for future issuances. Supported by access to private finance, Johannesburg has achieved a 15% reduction in CO2 emissions since 2013. Mpho Parks Tau, Executive Mayor of Johannesburg, shared his city’s success story. The event took place in the Blue Zone of Le Bourget in Paris during the global COP21 climate talks and included panelists from the private sector, academia, and city space.ĭuring his opening remarks at the event, C40 Executive Director Mark Watts said: “70% of everything delivered by C40 cities in the last 10 years has been funded out of city revenues…If we really want to unlock potential of mayors and cities, we need to bring access to global funds to mayors and cities.” On December 7th, the Yale Center for Environmental Law & Policy and C40 held a joint event to discuss how improving city-scale financing can energize and support future climate action from mayors and regional leaders. In Paris, a growing recognition that cities and regions will help deliver needed climate action has infused the global climate talks with a new spirit of optimism and direction for future work. This blog was originally published on the C40 Blog on December 10, 2015.īy Dena Adler, Joint Student at Yale Law School and Yale School of Forestry & Environmental Studies Research Fellow for the Yale Climate Change Dialogue
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