A city-wide approach to carbon finance
Urbanization and climate change will define much of the 21st century. Urbanization leads to improvement in standards of living, and through the increased density and service delivery efficiency of cities, higher growth can be achieved with lower greenhouse gas emissions. Cities and urban agglomerations house more than 50% percent of the global population and contribute more than 70 percent of global greenhouse (GHG) emissions. As the share of urban population grows, sustainable urban development emerges as an essential component in addressing climate change. This note introduces a city-wide approach to carbon finance. It proposes expansion of the CDM