The European Committee of the Regions, meeting in plenary session on 20 and 21 November, has called for an ambitious outcome to COP29 in Baku (Azerbaijan) (see other news) to ensure support for climate action at local and global level.
In a new study published on 13 November and presented at the COP, on financing mechanisms for climate adaptation at local level, the European Committee of the Regions encouraged European and national decision-makers to “make adaptation a clear policy and funding priority to signal political commitment to both LRAs [local and regional authorities] and private investors”.
Drawing lessons from four case studies in Sweden, Spain, France and Slovakia, the document highlights the importance of pooling resources, sharing risks between public and private actors and involving a variety of stakeholders in the design and implementation of measures.
Among other things, the study recommends that local and regional actors allocate sufficient human and financial resources and develop clear strategies for designing projects that attract investors.
To see the study: https://aeur.eu/f/eey (Original version in French by Pauline Denys)