Ow many cities in the United States have joined the Global Covenant of Mayors for Climate & Energy12/5/2023 ![]() To help remedy this, the Global Covenant will feature an advisory group of financial institutions that will offer guidance to cities. ![]() But, especially in developing nations, many cities lack credit ratings and cannot access international capital markets. Modernising infrastructure networks can be costly, and city governments are increasingly turning to private investors to help finance such projects. It will also allow the UN to identify the contributions that cities are making toward the goals set in Paris, which will underscore how important cities are to meeting them. The Global Covenant will enable cities to collect and report climate data in a standardised, comparable way, allowing them to track their progress and hold one another accountable. It will also help us expand and recruit new members, with a focus on parts of the world where cities are growing most rapidly, including Africa, Latin America and south-east Asia. Cities will speak with one clear, coordinated voice, sending a strong signal to national governments that they are committed to this fight and to assisting one another. The Global Covenant will link more than 7,100 cities, representing more than 600 million people, in one unified effort to address the causes and impacts of climate change. Our new alliance, now called the Global Covenant of Mayors for Climate & Energy, will provide unprecedented support for city efforts and accelerate progress against climate change in a number of ways, including: Coordinating city efforts In the European Union as well, cities are increasingly seen as crucial allies in the transition to a low-carbon economy. By sharing smart strategies, cities of all sizes have led the way in addressing climate change, and as a result, the UN has given cities an official role in international climate diplomacy for the first time.
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