CDP is a not-for-profit that runs the global disclosure system for investors, companies, cities, states and regions and public authorities to manage their environmental impacts. CDP disclosure is requested by 740+ investors representing USD 136 trillion in assets under management.
In 2023 alone, 23,000+ companies and 1,200+ cities, states & regions disclosed to CDP. This includes project level disclosure from local governments reporting through CDP-ICLEI Track. In 2023, 2,346 climate infrastructure projects were disclosed seeking USD 65 billion in financing and funding.
Over the last two decades CDP has created a system that has resulted in unparalleled engagement on environmental issues worldwide. CDP holds the world’s largest, most comprehensive dataset on environmental action. And the largest repository of self-reported climate projects seeking financing from local governments. The insights that CDP holds empower investors, companies, cities, and national and regional governments to make the right choices today to build a thriving economy that works for people and the planet in the long term.
Our 2023 Global Infrastructure Snapshot, developed in partnership with the Global Covenant of Mayors, was shared at COP28 and provides a project-level perspective into climate finance needs across 80+ countries. We will produce another global snapshot with the Global Covenant of Mayors with the updated 2024 disclosure data.
In recent years, demand to connect our investor signatory network with our disclosing cities, counties, states, provinces, and other public sector actors has grown exponentially. CDP reporting for local governments fully aligned with the Taskforce on Climate Related Financial Disclosures (TCFD), highlighting the risks, opportunities, metrics, targets and governance practices of hundreds of local governments. In 2024, we are encouraging applicable financial institutions to sign up to the ‘Municipal disclosure campaign’ to endorse disclosure from local governments Municipal finance webpage – CDP.
CDP also leverages its unique relationships to engage investors and companies to host cross-sectoral events across the globe. We anticipate planning several of these types of events in 2024. For example, we held a Mayor’s roundtable during New York Climate Week, in collaboration with C40, U.S. Climate Mayors and the US Treasury Department to highlight funding opportunities under the Inflation Reduction Act. We also hosted a project preparation event in Brazil, where cities had the opportunity to present their climate projects directly to potential investors and receive their feedback in real time.
CCFLA members can learn more about our work through our website. We are interested in collaborating with entities who can leverage the project data disclosed by local governments to advance the projects and further investment. Wherever possible, CDP connects eligible projects to technical assistance opportunities. In 2023, CDP assisted Global Covenant of Mayors within the City Climate Finance Gap Fund, which is organized by the World Bank and European Investment Bank, by shortlisting eligible projects. We also developed collaborative webinars with ICLEI’s Transformative Action Program. We are also interested in working with organizations who advance climate-related projects while prioritizing racial and social equity. Several years ago, CDP partnered on a toolkit for governments on making climate infrastructure equitable.
The Cities Climate Finance Leadership Alliance is a reliable source of up-to-date information on city climate finance topics. I also try to keep up with publications that might be what a city’s finance team would read – an example of this would be Bond Buyer in the U.S. I am also interested in relevant municipal and sustainable finance industry/affinity associations across the globe. For example, I was a member and then ran the New York chapter of WISE– Women Investing in a Global Economy. Also, I rely on Linkedin to follow-up with people I meet at conferences. No better exposure to staying up to date than by building relationships with people who are doing the work!
The connections and exchanges through CCFLA are invaluable – ensuring that we can all better use resources and coordinate with the end goal of ensuring that local governments have the resources that they need to mitigate and adapt to climate change, for the benefit of people and our planet.
CDP has served as a part of the Cities Climate Finance Leadership Alliance since its inception. I previously served on the Steering Committee for a two-year term. We are now part of many working groups, including the Project Preparation and Financial Toolkit groups. We are also supporting the CCFLA State of Cities Climate Finance 2024 report; specifically I serve on the CCFLA Advisory Board for that effort. We also will identify additional ways that the data disclosed by local governments can support CHAMP – the Coalition for High Ambition Multilevel Partnerships, announced at COP28.