C40 and World Bank Form Groundbreaking Climate Change Action Partnership

The C40 Cities Climate Leadership Group and the World Bank today announced a groundbreaking partnership that will help cities accelerate actions to reduce greenhouse gas emissions and become more resilient to climate change. C40 Chair New York City Mayor Michael R. Bloomberg and World Bank Group President Robert B. Zoellick signed the agreement during opening plenary of the C40 Cities Mayors Summit in Sao Paulo, Brazil.

“The leaders of C40 Cities -- the world’s megacities -- hold the future in their hands,” said C40 Chair, New York City Mayor Michael R. Bloomberg. “This unique partnership with the World Bank will help solve many of the problems that cities face in obtaining financing for climate-related projects, both from the World Bank and other lenders. It will also make it easier for C40 cities to access the resources of the World Bank.”

The key objective of this new partnership is to enable megacities to expand mitigation and adaptation actions and at the same time, strengthen and protect economies, reduce poverty and protect vulnerable populations. It addresses structural issues that make it difficult for cities to finance climate actions that have been identified by both C40 Cities and the World Bank Group.

See full Press Release.