The Global Covenant of Mayors for Climate and Energy (GCoM) is the largest global alliance for city climate leadership, built upon the commitment of over 10,000 cities and local governments, from six continents, 140 countries and representing more than 900 million people.
By committing to the GCoM, cities and local governments increase their visibility as leaders responding to climate change and demonstrate their commitment to an ambitious global climate solution. GCoM helps cities in achieving their ambition by supporting the collaboration and sharing of best practices among peers around the world, providing, technical and financial capacity-building and training activities, and generating the next generation of knowledge, data, tools needed for local policymakers to tackle sustainability and climate challenges.
3 initiatives of GCoM have been launched at the One Planet Summit
- Invest4Cities and the Global Urbis initiative, to mobilize private investment in high-risk sectors, which is now part of the Gap Fund
- The Innovate4Cities programme, to provide 10,000 cities worldwide with the data they need
- The One Planet Charter Campaign, to mobilize cities for climate action
GCoM partnered with the European Commission, European Investment Bank (EIB), and European Bank for Reconstruction and Development (EBRD) to provide financial advisory services and financing to foster low carbon and resilient investments. INVEST4CITIES and GLOBAL URBIS programmes have since then been scaled up under the umbrella of a powerful finance tool called the City Climate Finance Gap Fund in September 2020.
Implemented by the World Bank and European Investment Bank, the City Climate Finance Gap Fund aims to help bridge the urban financing gap to achieve low carbon, climate resilient urbanization pathways.
In an environment where resources and expertise are limited, the Gap Fund supports cities and local governments in preparing and prioritizing climate-smart plans and investments with the goal of attracting more financing and support for implementation. The Gap Fund is targeting at least 100 million Euros in overall funding – funding that can, in turn, leverage more than 4 billion Euros in investment for urban climate action.
The Innovate4Cities program launched at the One Planet Summit of 2018 in New York by Google and Bloomberg Philanthropies provides 10,000 cities worldwide with the data they need (transport, buildings, air quality) to create and implement climate action plans.
It is based on the idea that data and technologies can help enable and accelerate the world’s transition to a low-carbon future. GCoM and Google developed an ‘Environmental Insights Explorer’ to harness Google’s exclusive data sources and modeling capabilities in a freely available platform to help cities measure sources of emissions and identify and inform strategies to reduce emissions.
Find out more at www.globalcovenantofmayors.org/our-initiatives/innovate4cities_old/
One Planet Charter
The One Planet Charter was a joint initiative by ICLEI – Local Governments for Sustainability, C40 Cities Climate Leadership Group, and the Global Covenant of Mayors for Climate & Energy to accelerate the implementation of the Paris Agreement in cities and local governments across the world.
It was launched at the One Planet Summit of December 2017 and consisted of a major campaign to mobilize local governments to align with the goals of the Paris agreement and commit to concrete actions that were later formalized at the Global Climate Action Summit in San Francisco in September 2018.
Through the One Planet Charter, cities committed to specific climate action that drives investments, sustainable public procurement, and policy decisions in renewable energy, energy efficiency, electric vehicles, and efforts for zero emission buildings and zero waste. The Charter highlighted cities’ commitment to increase demand for sustainable and resilient infrastructure, products and services, while also recognizing the importance of working closely with national governments and business sectors to mobilise global climate action.