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Banking on Cities Investing in Resilient and Low-Carbon Urbanization

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Urban climate action is essential for cities to protect their populations, build strong and resilient economic foundations, and meet targets for greenhouse gas (GHG) mitigation. The economic viability of cities in low- and middleincome countries (L&MICs) is in jeopardy because of rapidly increasing climate change hazards and nonresilient urban growth pathways. The national climate mitigation commitments of L&MICs will not be achieved without decisive lower-carbon growth trajectories in cities. Globally, 56 percent of the world’s population lives in cities. Because cities increasingly concentrate
people and assets, they also concentrate many climate risks, and cities account for 70 percent of global GHG emissions