Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > New Report Sees Cities as Central to Climate Action
    Top Stories

    New Report Sees Cities as Central to Climate Action

    Published by Gbaf News

    Posted on December 30, 2010

    4 min read

    Last updated: January 22, 2026

    This image showcases a graph depicting the recent cuts to China's lending benchmarks. It highlights the People's Bank of China's strategy to revive a faltering economy affected by a property crisis and COVID resurgence. The cuts aim to stimulate growth while managing inflation risks.
    Graph illustrating China's lending rate cuts to boost economy amid COVID resurgence - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    A new report from the World Bank released today outlines how residents of cities are responsible for as much as 80% of global greenhouse gas emissions while at the same time facing significant impacts from climate change.  The report, Cities and Climate Change: An Urgent Agenda, says that up to 80 percent of the expected $80 billion to $100 billion per year in climate change adaptation costs will likely be borne by urban areas.  Nevertheless, says the report, climate change offers cities opportunities to alter course, implement smart policies, and develop sustainable communities. Well managed, dense cities are also shown to be the most important pre-requisite to mitigation of GHG emissions and overall sustainable development.

    “Many world cities, such as New York , Mexico City, Amman, or Sao Paulo are not waiting for a comprehensive and global climate deal to emerge, they are already acting on climate change,” said Andrew Steer, World Bank Special Envoy for Climate Change. “They are showing how to address mitigation, adaptation, the delivery of basic urban services, and poverty reduction through smart ideas and local initiatives.They need the support of their national governments and the international community at large.”

    Cities and Climate Change: An Urgent Agenda conveys a need to act now— massive investments in buildings and infrastructure that cities in developing countries are undertaking today will lock in urban form and lifestyles for many decades to come, foretelling GHG emissions and vulnerability to climate events like wind storms, flooding, heat waves, and sea level rise.  The report provides stark evidence on how city form and lifestyles have an impact on GHG emissions.  Barcelona’s per capita residential GHG emissions, for example, are less than one-quarter those of Denver.  Sao Paulo and Rio de Janeiro also provide hope as their per capita emissions are less than 2.1 tonnes CO2e per capita.

    The report says that aggregate size of cities is driving their contributions to GHG emissions and how they will be affected by climate change.  More than half of the people in the world now live in urban areas, a proportion that is growing fast.  The world’s 50 largest cities alone have a combined population (500 million people) larger than the United States. They are also estimated to emit about 2,606 million tones of GHGs (third leading source, after the U.S. and China).  And, they have a combined GDP of $9.55 billion (larger than China).

    The report outlines a climate-smart way forward for cities, as long as they work together.  For instance, cooperative efforts like the recent Mexico City Pact and the C40 large cities association, highlight how, by working together, cities are able to move more quickly and more comprehensively as they address climate change.  Organizations like the World Bank are responding, providing targeted assistance in urban areas such as Mexico City, Cairo, and Bangkok and detailed vulnerability assessments for several coastal cities.

    New partnerships are emerging: UNEP, UN-Habitat, and the World Bank have developed a joint work plan expressly to provide faster and more coordinated assistance to cities.  City organizations like C40 and The Climate Group have recently emerged, adding to already established groups like ICLEI and UCLG. 

    New tools, such as a common GHG emissions standard for cities, an Urban Risk Assessment tool, and agencies like the Global City Indicator Facility, are being launched in an effort to coordinate and focus the energy of cities toward problem solving.  New financing options such as ‘green bonds’, a city-wide approach to carbon finance (now proposed in Amman), and emissions trading systems such as the one recently launched in Tokyo, are also being studied.

    The report says that cities are well advised to act on climate change as soon as possible.  Costs of delaying action are high, particularly in rapidly growing cities.  The co-benefits of action are substantial: e.g. improved public health, cost savings, energy security.

    The report adds that low-carbon economy and low-pollution cities are essential to a high quality of urban life.  Cities are also seen as have a unique advantage in confronting climate change since they are the optimum scale for action: large enough to enact meaningful pilots and introduce “first responder” programs, yet sufficiently close to the community to be faster and more effective than larger national governments in implementing public aspirations.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostNewly Released Data Reveal Drop in Capital Flows to Developing Countries in 2009
    Next Top Stories PostInternational Donors Commit US$31million for River Blindness Efforts