2023
Taking stock. Raising Ambition.
Catapult, 1 Rochester Park, #02-01 Rochester Commons, Singapore
The year 2023 marks the key halfway point for our climate goals since the Paris Agreement was signed in 2015. The upcoming COP28 hosted in Dubai will deliver the first global stocktake of our progress and provide an opportunity for countries to take stock, course correct and chart an accelerated path forward.
Cities are at the heart of climate action, generating more than 60 per cent of global greenhouse gas emissions. By deploying low-carbon measures, cities could reduce greenhouse gas emissions from urban buildings, materials, transport and waste by nearly 90 per cent by 2050. These measures would have a net present value of US$23.9 trillion – greater than United States economy, according to the Coalition for Urban Transitions.
As the world meets for climate talks, bold action must be taken across society to rapidly decarbonise cities if we are to reach the global target of reducing global emissions by 43 per cent by 2030 as an interim step to net zero by 2050.
How can stakeholders come together to promote technology and innovation, inclusion, uplifting communities and scale financing across urban ecosystems? Cities: Possibilities 2023, themed ‘Taking stock. Raising Ambition.’ will convene stakeholders across all segments of society to spotlight solutions for low-carbon and resilient cities, with a focus on infrastructure, circularity, food, energy, water, and mobility.
The 2024 edition of The Liveability Challenge, Asia’s largest sustainability solutions platform presented by Temasek Foundation, will also be launched at this event. We will unveil the new themes for the sustainability innovations we are looking for in the year ahead, and selected finalists will pitch at Temasek’s Ecosperity 2024 to win funding from a wide range of grant funders and investors.
Despite covering merely 2 per cent of the planet's surface, cities consume nearly 80 per cent of the world’s energy and emit over 60 per cent of the world's greenhouse gas emissions — significantly contributing to global temperatures rising 1.1 degrees Celsius since the pre-industrial era. Cities must urgently decarbonise to limit this rise to below 1.5 degrees Celsius as set out in the Paris Agreement on climate change.
Reducing emissions within cities, however, is challenging. Urbanisation and population growth is driving up energy demand, while cities rely heavily on hard-to-abate sectors such as urban transportation, industries and commercial activities.
Meeting the needs of a growing urban population while keeping emissions low will require significant planning and investment. What key policy shifts are needed to phase out Asian cities’ dependence on fossil fuels? How do we enable climate positive development that leaves no one behind?
Ahead of a pivotal COP28 that aims to fast-track the energy transition, this panel will discuss how cities can build on progress made so far and play a leading role in catalysing further climate ambition.
As hyper-dense congregations of human activity, environmental considerations must be built into every aspect of city operations to lighten their climate footprint.
There is a growing body of research that points to how urban Asia can decarbonise, by employing the latest technologies and channelling money to the most impactful ventures. But these efforts must be tailored to each city’s unique circumstances. Local communities must also be protected from both growing climate risks and the adverse impacts of big changes.
Six aspects of cities could be key to their climate efforts: infrastructure, the circular economy, food, energy, water and mobility. Join us in our roundtable discussions, led by a multidisciplinary team of urban experts, to explore the most promising solutions in each of the sectors. Participants will also have the opportunity to network with like-minded peers and explore collaboration on new sustainability initiatives.
Discussions in each topic will be framed by the enabling pillars of technological innovation, finance, climate adaptation and inclusivity.
Unlocking affordable, available and accessible climate finance is one of the key pillars of the upcoming COP28 climate summit.
Experts now believe trillions are needed annually to support the climate needs of developing nations. This provides a tremendous opportunity for funders to rebuild trust and create a more equitable future for all.
The challenge is only more salient in Asian urban centres, which need green finance for upgrading electricity grids and adapting to extreme weather events. Emergency and social safety nets need financing support to support climate-stressed urban inhabitants. With the right policies, cities in the region also can serve as green finance hubs to crowd in much-needed investments.
Such efforts require private financiers, multilateral development banks and governments to collaborate and channel more capital towards climate action in developing regions. They must also overcome long timeframes and high costs associated with climate investments, limited access to sustainable finance markets, and the lack of supportive policies.
How can we enhance coordination between stakeholders to unlock climate finance for Asia’s growing cities? What regulatory systems must be urgently reformed? How can developing countries ensure that climate funds go towards the most viable climate causes?
Heeding COP28’s clarion call, this panel will shed light on fixing climate finance for developing nations and cities.
