Submitted by Mohamed Sefiani, Mayor, Municipality of Chefchaouen, Morocco and ICLEI Vice President.
Excellencies, colleagues, and fellow climate leaders,
It’s my honor to speak to you today on behalf of the City of Chefchaouen in Morocco, ICLEI, and all networks under the LGMA Constituency.
I am personally delighted to join all the 3 Urban and Climate Ministerials and kick-off in SURGe in Sharm El Sheikh, CHAMP in Dubai and MAP here in Baku.
The City of Chefchaouen is a leader in multilevel action and innovative climate finance.
For COP29, here are three concrete finance related asks of the LGMA Constituency endorsed by hundreds of towns, cities, and regions:
1-. We call on Parties for the harmonization of procedures. This must include:
a. simplified access modalities,
b. accreditation of national agencies,
c. allowing readiness resources for project preparation,
d. increasing resources for project implementation.
e. improving fiduciary standards, accelerate speed and reduce cost for accessing the funds.
2-. We Call on Parties to ensure global climate finance to be predictable and enable direct access of local and subnational governments, and other stakeholders especially vulnerable groups.
3-. The new annual climate finance goal must reach to trillions per year by 2030 and support just, equitable and a well-funded transition across all levels of government. This new goal must be connected to the reform of global finance architecture and Multilateral Development Banks. And new global finance must include new and innovative sources such as:
a. public-private partnerships,
b. payment for environmental services,
c. blended finance,
d. guarantees,
e. de-risking investments,
f. green labeling,
g. disclosure schemes,
h. development of local green bond markets, guarantees,
i. debt swaps, etc.
And finally, climate finance instruments should not add to debt burdens of local, subnational and national governments.
The LGMA calls for COP29 in Baku to leave a concrete legacy to open a new world of multilevel climate action at COP30 in Belém in 2025.
