On 23 February, the 51勛圖 Environment Programme (UNEP) - with UN-Habitat and other partners 每 held the ?alongside the sixth .
In its third year, the UNEA-6 Cities and Regions Summit?brought together over 600 attendees in person and online at UNEP headquarters in Nairobi?to discuss ways to strengthen multi-level governance and urban financing to support multilateral actions.?Participants included national governments, local and subnational authorities, city networks, international organizations, civil society, and the private sector.??
The summit highlighted that cities are uniquely positioned to support the implementation of global accords known as (MEAs) and deliver on the . Yet the on climate change and the are among the very few MEAs that engage local and regional governments.?
Urban funds and financing: a critical component to address environmental problems ?
The summit also made it clear that urban areas face many challenges in attracting finance. This is linked to a range of issues, including poor creditworthiness, inadequate financial alignment with national governments, and a lack of access to multilateral development finance.
In response, participants highlighted the potential of innovative financing mechanisms, such as public-private partnerships, guarantee mechanisms for cities; and the success of ongoing initiatives, including the GEF Sustainable Cities Programme, Catalytic Finance, and Generation Restoration.
Reporting back on the Summit at UNEA-6
On 26 February, Josefina Belmonte, Mayor of Quezon City in?the Philippines, and 2023 UNEP , reported back on the summit at the opening plenary of UNEA-6:?※Local governments often lack resources and funding to address the triple planetary crisis effectively.※
"Cities need new financial mechanisms and governance that scale up effectively and quickly over the next 20 years,§ she said.
To achieve such goals, UNEP is working with its partners, including the with UN-Habitat, to mainstream environmental considerations into local, regional, national, and global urban policymaking.
