Focus Areas:
Stormwater
"Cities need better access to financing options to implement the stormwater management projects that will protect their communities from future flooding." - COP 28 & WRI
The Problem
The Recommendation
Stormwater management projects face difficulties securing adequate financing, especially in underserved urban areas.
Green infrastructure offers long-term savings and benefits, the initial costs are often prohibitive.
Traditional funding models tend to overlook the economic value of green infrastructure, leaving many cities with outdated, inadequate stormwater systems.
Establishing green infrastructure grant programs and incentivizing private sector investment can help fill funding gaps. Local governments can tap into climate resilience bonds and use public-private partnerships (PPPs) to fund stormwater projects.