Climate Governance and Disclosure in Cities: Effectively assessing climate risks and opportunities

Cities are increasingly subject to physical and transition risks associated with climate change. Incorporating climate into decision-making at the city level is thus important. By understanding their physical and transition risks, cities can adequately identify how to address them and reduce their impact on assets, finances and operations and especially in citizens’ quality of life.

Cities are currently assessing and reporting their climate risks in different ways. This could help raise investors' confidence, unlock finance and get support to advance in their climate mitigation and adaptation efforts.

In light of this, EBRD has set up a Corporate Climate Governance (CCG) Client Support Facility Through this facility, different clients including municipal governments and public utilities will be eligible to receive advisory service to internalise and report on information about climate change (both climate transition risks and physical climate impacts). This largely results in better planning and decision-making, and supports low-carbon and climate-resilient economic development, in line with the goals of the Paris Agreement.

In addition, EBRD Green Cities programme supports cities to develop Green City Action Plans (GCAPs). Through baseline analysis, stakeholder engagement and vision & objective setting, the GCAP provides a list of infrastructure projects and policy tools for cities to implement impactful climate action, with the support of local teams and with the technical assistance of expert institutions such as ICLEI and BDO.   

The event will more generally highlight the importance of climate governance and disclosure in cities and how different stakeholders and actors such as EBRD, ICLEI, UNDRR and BDO are supporting that, through a systematic approach, as well as highlight the experience of the City of Warsaw in mainstreaming climate governance and disclosure through the development of Green City and Climate Action Plan.