The Global Climate Action Summit brought leaders and people together from around the world to celebrate the extraordinary achievements of states, regions, cities, companies, investors and citizens with respect to climate action. It will serve as a launchpad for deeper worldwide commitments and accelerated action from countries—supported by all sectors of society—that can put the globe on track to prevent dangerous climate change and realise the historic Paris Agreement.
The decarbonization of the global economy is in sight. Transformational changes are happening across the world and across all sectors as a result of technological innovation, new and creative policies and political will at all levels. States and regions, cities, businesses and investors are leading the charge on pushing down global emissions by 2020, setting the stage to reach net zero emissions by midcentury.
Cities and regions are critical financial actors in the global response to climate change, and particularly in the infrastructure investments that will be required to meet the ambitions of the Paris Agreement. This expert panel discussed how national and sub-national governments can scale up subnational financial flows to transition to low-carbon, resilient and inclusive cities, presenting the findings from OECD and World Bank studies produced as part of a joint OECD, UN Environment and World Bank project, Financing Climate Futures, commissioned by the German Federal Ministry for Environment, Nature Conservation and Nuclear Safety as a contribution to the G20 Climate and Energy Action Plan for Growth. The OECD study is developed by the OECD Centre for Entrepreneurship, SMEs, Regions and Cities.
Introductory remarks by Lamia Kamal-Chaoui, Director, OECD Centre for Entrepreneurship, SMEs, Regions and Cities
Keynote address by State Secretary Jochen Flasbarth, Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), Germany
Expert panel moderated by Marissa Plouin, Coordinator, OECD Champion Mayors initiative
• Steve Hammer, Advisor, Global Partnerships & Strategy Climate Change Group, World Bank
• Projjal Dutta, Director, Sustainability Initiatives, NYC Metropolitan Transport Authority
• James Leaton, Vice President – Senior Credit Officer, Moody’s Investors Service
This session was jointly organised by the OECD, the World Bank, UN Environment and BMU.
Addressing climate change in cities absent an equity lens has the potential to exacerbate inequalities: this is because climate change impacts are poised to disproportionately affect disadvantaged populations. Moreover, climate change policies can be regressive, placing a larger burden on the poor. Local leaders are on the frontlines of tackling both climate change and inequalities. In October 2017, OECD Champion Mayors for Inclusive Growth Initiative launched the Seoul Implementation Agenda, committing to align their climate change and inclusive growth agendas. This session was moderated by Lamia Kamal-Chaoui (Director, OECD Centre for Entrepreneurship, SMEs, Regions and Cities)and brought together OECD Californian Champion Mayors, Ted Winterer from Santa Monica and Michael Tubbs from Stockton to share successes, obstacles and ways forward.