Press Release: C40 Launches Creditworthiness Network to Unlock City Access to Capital
Today, the C40 Cities Climate Leadership Group (C40) and strategic funding partner the Children’s Investment Fund Foundation (CIFF) launched a new Creditworthiness Network that will help selected cities achieve a credit rating in order to finance climate-related projects. The programme will kick-off with a Creditworthiness Academy in Amman, Jordan – a five-day workshop hosted by the Greater Amman Municipality and delivered in partnership with the World Bank. The Academy will start the eight participating cities on the critical path to sustainable finance through creditworthiness.
“Empowering cities economically – particularly those in developing countries – to take climate action will not only improve the lives of urban citizens, but also will help nations close the emissions gap on the Road to Paris and beyond,” said C40 Chair and Rio de Janeiro Mayor Eduardo Paes. “The C40 Creditworthiness Academy and Network will allow cities to access the capital needed to finance infrastructure projects to reduce both carbon emissions and climate risk.”