New EEA report "Financing urban adaptation to climate change," takes a closer look at innovative funding options now being used, such as green bonds and crowdfunding, alongside traditional funding channels. The report includes case studies that analyse how 11 cities across Europe are developing, funding and implementing urban adaptation measures. The case studies outline various projects that will help cities better protect themselves from the damage caused by extreme weather events. These include building more green spaces and installing green roofs, which enhance water retention and provide cooling as well as thermal insulation.
The publication is meant to serve as a resource for adaptation financing providers and project developers from international, national or regional public bodies and private institutions. The report also includes a helpful annex providing an overview of European-level financing options available to municipalities.
Municipalities across Europe increasingly acknowledge the need to adapt to climate change and have begun to adopt various measures. Meeting the costs of adaptation measures for climate change is, however, a major challenge. Municipalities have found innovative ways to overcome that challenge and have started implementing measures. These solutions could be relevant for other cities, towns and smaller municipalities too, and examples are collected and presented in this publication as an inspiration. It offers insights into lessons learned on the ground regarding the most successful approaches, the difficulties encountered and overcome and the key success factors in financing local adaptation action.
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