How National Governments Can Increase Finance for Subnational Climate Action
C40 Cities Climate Leadership Group
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Abstract: This report, commissioned by the C40 x GCoM Bloomberg Philanthropies Joint Programme, supports the Coalition for High Ambition Multilevel Partnerships (CHAMP) to enhance cooperation between national and subnational governments in climate strategy planning, financing, implementation, and monitoring. It provides implementation options, proven financial techniques, and coordination frameworks to scale up finance for subnational climate action, focusing on national governments, particularly in low- and middle-income countries (LMICs). The report addresses urgent financing needs amidst high debt burdens, emphasizing immediate, practical actions to mobilize public and private capital without relying on extensive fiscal loans or grants. It highlights the critical role of subnational governments in climate action, the challenges of limited public finance, and opportunities to leverage underutilized capital through blended finance and credit enhancements.