Lula defends greater financing for cities and quotes Marielle in Urban 20

President Luiz Inácio Lula da Silva defended this Sunday greater funding to support cities in tackling the climate crisis during the Urban 20 ceremony, the G20 mayors’ forum, in Rio de Janeiro.

“Cities cannot finance urban transformation alone. They cannot be neglected in the new climate transition financing mechanisms”, said Lula in a speech. The subject is one of the three priority themes defined by the Brazilian presidency of the G20.

“Unfortunately, governments are faced with a huge funding gap in the Global South. Only a portion of the necessary resources reaches developing countries and an even smaller portion reaches our metropolises.”

The U20’s main areas of discussion are social inclusion and the fight against hunger and poverty; energy transition and tackling climate change; and the reform of global governance institutions.

“It will not be possible to build a New Urban Agenda without investment and without adequate multilateral governance,” added Lula. The president also mentioned councilwoman Marielle Franco, murdered in 2018.

“Marielle’s fight for a more inclusive city, transformative public education, and access for all to quality public services is imperative to create sustainable cities that meet everyone’s needs.”

The mayor of Rio de Janeiro, Eduardo Paes (PSD), who opened the ceremony, also highlighted the need for cities to have greater, faster and more inclusive access to the capital.

“We ask that governments commit to investments and actions of at least 800 billion dollars annually by 2030 for climate mitigation and adaptation projects,” said Paes.

The U20 calls for the creation of a guarantee fund to facilitate the financing of urban climate projects by large global banks, such as IDB, IBRD, Brics, CAF, among others.

According to the mayors, although there are already private resources available, they need to reach the cities faster and in greater volume. The guarantee fund would be a way to make this initiative viable.

The U20 event takes place on the eve of the G20 leaders’ summit, a group of the world’s main economies, which takes place on November 18th and 19th.