This working paper argues that cities are engines of economic growth and social change and investing in public and low emission transport, building efficiency, and waste management in cities could generate large financial savings.

The paper recommends that cities commit to low-carbon urban development strategies by 2020. It also recommends cities commit to the Compact of Mayors, a global coalition of mayors and city officials pledging to reduce local greenhouse gas emissions, enhance resilience to climate change, and track their progress transparently. It highlights that creative policy instruments and innovative financing can help cities overcome barriers to action. The report offers several examples of cities that have achieved or can achieve economic benefits from green investments and recommends that the international community develop an integrated package to help accelerate and scale up low-carbon urban strategies in at least the world’s largest 500 cities.

[Adapted from source]