Despite their potential and their high levels of emissions, Megacities have not yet sufficiently advanced in reducing their greenhouse gases (GHG). The lack of capacities and skills have been frequently identified as major bottlenecks, both in terms of project development and implementation, but also regarding the potential acquisition of investments. The objective of the CFF is therefore to support cities in reducing their GHG emissions and boosting resilience by mobilising finance for city-level climate change action in urban infrastructure.
This assessment tool hence serves two purposes:
a) it ensures that projects can be achieved with satisfactory outcomes and scales, and
b) it helps city administrations to develop the capacities needed, including those to mobilise and access financial instruments for climate change in the near future.
To this end, it is imperative to ensure that projects for GHG reduction are highly relevant, that their implementation can be ascertained, and the outcomes and lessons learnt used for preparing new projects.
An essential feature to meet this aim is the ex-ante assessment projects, with the intent to evaluate and improve the capacities for their implementation and operation.
For this purpose, this assessment tool, has been developed.