It is accepted that trillions of US dollars will be needed every year between now and the year 2050 in order to invest in the global sustainable infrastructure that will help minimise irreversible climate change and support resilient, sustainable lifestyles for 10 billion people, of which 2/3 are expected to live in cities and peri-urban environments.
So far, we are not just off target: we are losing the race against time. The euphemistically labelled “ambition gap” means that every year, we are short of several trillion dollars and sliding ever closer to irreversible climate-led disruption and unsustainable development paths.
We have now entered into an experimental phase for sustainable urban development, the arrangement of sustainable infrastructure finance and the wider financing of the UN Sustainable Development Goals (SDGs). Calls for bold, radical change in global finance and development finance are becoming mainstream.
Through this blog, I will try to connect the dots between finance, urban development, development policy and sustainability, in the hope of bringing into focus the emerging solutions for closing the gap in global sustainable infrastructure financing and SDG finance more broadly.
The outcome is no forgone conclusion: history is being made – from many different sides.