RFP - C40 Cities Climate Leadership Group - Driving investments into local green recovery
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C40 has established a Global Mayors COVID-19 Recovery Task Force to rebuild cities & economies in a way that improves public health, reduces inequality, and addresses the climate crisis. The task force has set out principles for recovery and recently published a report called C40 Mayors Agenda for a Green and Just Recovery, that sets out the collective vision of mayors for a green and just recovery and the shared principles for achieving it, including actions that cities are taking and will take, examples from across the C40 network, and their calls on national and regional governments and financial institutions.
Cities have been at the epicentre of the COVID-19 pandemic, but they also offer an opportunity to accelerate the transition to a resilient, equitable and low-carbon future. The investment needed to help cities to address climate change and support green and just recovery is significant. But the crisis has also decimated city budgets, and the impact of reduced government transfer of revenues to cities is still unknown. There is an urgent need to enhance and increase the pool of financial resources to support cities in green recovery. The climate actions prioritized above will help deliver strong benefits to communities in terms of job creation,upskilling, improved quality of life, improved health and well-being, and strengthened resilience, but there are limited finance mechanisms that can target community level finance action.
PROJECT DESCRIPTION
C40 would like to explore innovative finance models for community-focused, local green recovery, including tapping into finance sources including impact investors, endowments and institutional investors, local pension funds, philanthropies, crowd or community-based funding, and social enterprises and funds. The aim of this research is to explore this potential for diverse investors with a mandate for responsible investing and strong community ties to invest in locally-based, green recovery.
C40 is seeking consultancy support to undertake research and provide recommendations on innovative approaches for how pension funds, impact investors, philanthropic investors, endowment funds and other responsible investors can support a local green and just recovery. This research will complement a larger study on financing mechanisms that can support mayors in delivering on the green and just agenda.
The research should explore existing examples of how investors have used their investments to drive or support investment in clean industries, low carbon or resilient infrastructure, innovation and SME development, community regeneration and just transition initiatives in their local area, and provide insights into how C40 mayors could explore these opportunities further. Examples must focus on local (community-city-state/regional) investment. The examples could be from a dedicated investment vehicle or fund or from a subset of portfolio targeted at local or community investments. Bidders are encouraged to work in partnership with others if this will enable a more comprehensive approach to meeting the requirements of the proposed scope.
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All proposals in response for this RfP are due no later than 6pm EST December 7, 2020.
