7/29/2023 0 Comments Chicago finances cs other cities![]() cities, we encountered a range of funding and financing policies that formally commit to investing real money to decarbonize their local built environments, including real estate, electricity systems, and transportation networks. Based on our detailed scan of 50 large U.S. Lackluster aggregate scores tell one part of the story, but they also obscure the experimentation and innovation currently taking place as cities work to fund ambitious decarbonization efforts. Sound funding and financing strategies are the exception when it comes to decarbonization planning in American cities. San Francisco and San Jose, Calif.-satisfied all four of these funding and financing criteria in our original evaluation. Only eight cities-Cincinnati Denver Memphis, Tenn. ![]() Third, only 54% proposed specific, innovative, consistent, and/or long-term funding sources or financing mechanisms, and finally, just 34% estimated the financial impacts of each decarbonization strategy. First, while every city should thoroughly spell out details on funding and financing, only 70% of cities integrated these concerns into their decarbonization strategies, and second, only 66% identified existing funding sources. With larger cities requiring billions of dollars to retrofit their building stock, construct new transit lines, or modernize local electricity distribution systems, being realistic about how to fund all these investments is an essential step to decarbonization.Ĭities frequently fell short across four different criteria in our analysis. That was especially the case for funding and finance issues-meaning how cities plan to pay for needed infrastructure improvements and other actions to reduce GHG emissions. What we found was concerning: While most cities took some steps toward reducing GHG emissions, their plans often lacked the details necessary to meet aspirational goals. ![]() Last September, we evaluated the implementation potential of decarbonization plans from 50 of the country’s largest cities.
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