​Economics, Finance, and the Private Sector

Schwarze Reimund, Meyer Peter, Markandya Anil, Kedia Shailly, Maleki David, de Lara María Victoria Román, Sudo Tomonori, Surminski Swenja, Anderson Nancy, Olazabal Marta, Grafakos Stelios, Dobardzic Saliha
In Rosenzweig, C., W. Solecki, P. Romero-Lankao, S. Mehrotra, S. Dhakal, and S. Ali Ibrahim (eds.), Climate Change and Cities: Second Assessment Report of the Urban Climate Change Research Network. Cambridge University Press. New York. 225–254

​Since cities are the locus of large and rapid socioeconomic development around the world, economic factors will continue to shape urban responses to climate change. To exploit response opportunities, promote synergies among actions, and reduce conflicts, socioeconomic development must be integrated with climate change planning and policies. Public-sector finance can facilitate action, and public resources can be used to generate investment by the private sector. But private-sector contributions to mitigation and adaptation should extend beyond financial investment. The private sector should also provide process and product innovation, capacity building, and institutional leadership.

Climate change
Socio-economic development
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