Considering the increasing rate of urban growth on a global level, estimates indicate that the world will need to invest until 2030 between US$ 4.5-5.4 billions per year to cover the costs of a sustainable urban infrastructure. Hence, US$ 0.4-1.1 billion would be allocated to secure a resilient and low emission infrastructure 1 (CCFLA, 2015).
Before taking on this huge challenge and considering the framework of the Paris Agreement, the municipal governments are called upon to assume a more active role in the planning of their cities development. Thus, contributing towards the efforts that each country is investing to reach their Nationally Determined Contributions (NDC) goals. To improve as a nation, it is important to diffuse information to local governments. They need to know that there is a fast variety of funding to start climate actions on an urban level. Funding can be acquired through municipal income, to investments of the private sector, national and international funds. Furthermore, local governments can apply to international funds through bilateral and multilateral cooperation agencies.
SASA is specialized in designing and analyzing the feasibility of climate components in development projects, which enables additional climate funding to secure the sustainability of the projects and the emission reduction of GHG. Through its work in SASA FINANCE the company is able to explore possible funding with the private sector for projects that generate emission reduction of GHG and contribute to the resilience in Latin America.
Cities Climate Finance Leadership Alliance, The State of City Climate Finance 2015, 2015, http://www.citiesclimatefinance.org/wp-content/uploads/2015/12/CCFLA-State-of-City-Climate-Finance-2015.pdf