Cities in emerging markets could attract $29-trillion (R395-trillion) in climate-related investments such as green buildings and electric vehicles over the next decade, according to the World Bank Group's International Finance Corporation (IFC). Researchers looked at the climate action plans of cities with more than 500,000 people, focusing on six sectors: green buildings, public transport, electric vehicles, waste management, water treatment and renewable energy. "Getting the cities right is absolutely essential for climate," said Alzbeta Klein, the IFC's director for climate business. "They play a role in how climate looks and how it defines for the next generation ahead of us." More than half the global population lives in urban areas, according to the IFC. Cities consume more than two-thirds of the world's energy, and account for more than 70% of all carbon dioxide emissions. Green investments, targets and policies in cities will be crucial if countries are to meet the emissions...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.