How local governments are financing climate action without federal funding
The urgency of addressing climate change is intensifying as natural disasters grow more frequent and severe. A global commitment to limit temperature rise to 1.5°C is already unrealistic given current emission patterns, and even a 2°C target faces similar challenges.
While large corporate polluters have failed to adequately transform their operations, local governments are stepping forward to lead emissions reduction and climate adaptation efforts. Nearly all US states (48 of 50) and over 400 US cities and counties have created climate action or adaptation plans. However, most have not yet secured substantial funding or financing mechanisms to execute these initiatives.
According to CDP estimates, there exists a gap of more than $86 billion for climate projects across 611 cities globally. Given shifting political circumstances, communities, developers, and entrepreneurs must explore creative financing solutions.
