This action statement is laid out with the aim to catalyse and accelerate capital flows to cities for investment in climate change responses such as low carbon development and resilient infrastructure, over the coming 15 years. The statement starts by highlighting the significant gap in investments and financial opportunities for cities to invest in climate-resilient infrastructure and mitifation activities. It outlines the structural and institutional barriers which are currently preventing greater climate finance to cities. Next it outlines the commitments made by the alliance members, which include:
i) Knowledge exchange and support for best-practise
ii) Advocacy to transform the financing landscape, engagement with finance leaders, and policy reform which incentivises and encourages investments in low carbon and climate-resilient infrastructure
iii) Research and knowledge management to document and share the landscape of urban climate finance and identify innovative pathways to access or build it.