Cities are experiencing significant challenges in translating their climate goals into projects that can attract investment, Johanna Granados, head of Urban Climate Action and Finance at the Global Covenant of Mayors of Spain, said at the 13th session of the World Urban Forum (WUF13) in Baku, Report informs.
“The vast majority of cities around the world have a clear understanding of their climate needs, but face significant challenges in translating these goals into financially attractive initiatives. This problem is particularly acute for small and medium-sized cities, which often lack both the necessary human resources and sufficient management authority to attract and effectively utilize debt financing,” Granados noted.
