C40 Cities convene at Global Energy Basel – The Sustainable Infrastructure Financing Summit

21-22 February 2012, Basel, Switzerland

Leaders from local governments, investment and financing communities, and infrastructure solution providers are gathering today in Basel, Switzerland for the Global Energy Basel (GEB) Summit. Marking its second year, the Summit aims to provide a leading platform for sustainable infrastructure finance, with a view to addressing the major challenges of the 21st century: climate change, resource scarcity, population growth and urbanisation.

There is currently a significant gap between the infrastructure investment projected to be required across urban areas over the next 20 years, and the project financing currently available for such investments. It is therefore critical to bring together the relevant parties to bridge understanding on what makes projects environmentally and economically sustainable or “financeable.”

To this end, C40 is hosting a Working Group exclusively for C40 Cities in attendance at the Summit. Closed-door sessions will feature an industry-expert presentation on infrastructure finance fundamentals, as well as consideration of specific project investment opportunities in C40 Cities. Based on significant demand from cities throughout the C40, the sessions will also be used to create a network of C40 Cities interested in sharing knowledge, experiences and resources relating to sustainable infrastructure finance -- and to define the level of C40 resources that can be provided to support city-priorities in this area.

“This Working Group will allow cities to openly share the challenges they face in funding important infrastructure projects and to think about how the C40 network can be best leveraged to promote existing and new approaches to financing. We would especially like to thank Basel Mayor Dr. Guy Morin for his leadership and generosity in hosting C40 City participants at this year’s summit” says Scott D. Henderson, Director of Finance, C40 Cities Climate Leadership Group.

C40 Cities attending the GEB Summit include: Addis Ababa, Basel, Beijing, Berlin, Cairo, Changwon, Copenhagen, Dhaka, Ho Chi Minh City, Johannesburg, Karachi, London, Melbourne, Mexico City, Moscow, Rotterdam, San Francisco and Tokyo.

Stay tuned to the C40 blog for further reporting on outcomes of the C40 Working Group sessions.