World Local Government Climate Summit in Korea

GCF Amb. Seyni Nafo Brings Urban Climate Finance to The Forefront at World Local Government Climate Summit

By AAI communication Team

In Goyang, Korea, the World Local Government Climate Summit welcomed Amb Seyni Nafo, who serves as both Co-Chair of the Green Climate Fund (GCF) and Coordinator of the Africa Adaptation Initiative (AAI). Ambassador Nafo delivered a compelling keynote on "Climate-compatible urban development: Contribution from the Green Climate Fund," illuminating the pivotal role cities play in our climate future.

During his address, Ambassador Nafo painted a vivid picture of urban centers as both contributors to and potential solutions for climate change. Cities generate over 70% of global greenhouse gas emissions while driving 75-80% of global economic output. With more than half the world's population already living in urban areas and continued growth projected, these population centers represent critical battlegrounds in the fight against climate change.

The GCF has responded to this challenge by committing $13 billion across 47 urban-focused projects, successfully leveraging an additional $16 billion in co-financing. These investments flow through four transformative channels: decarbonizing energy and transport systems, improving building energy efficiency, developing compact and resilient cities, and promoting circular urban economies to reduce waste-related emissions.

Ambassador Nafo explained how the GCF tailors its approach to regional contexts. In Africa, the focus centers on fundamental urban planning, targeted adaptation projects, and developing low-carbon infrastructure that can shape sustainable growth paths. Latin American and Asian cities benefit from improved access to climate finance and initiatives that transform high-emission sectors. Eastern European and Central Asian urban areas receive support for market transformations in their major emission-producing industries.

The audience heard compelling success stories that brought these strategies to life: a regional program revolutionizing urban mobility across ten Latin American countries, a provincial co-investment facility in Eastern Europe that has mobilized $1.4 billion for low-carbon transitions, and an informal settlement upgrading project in Rwanda that has transformed the lives of 35,000 households through climate-resilient infrastructure.

Ambassador Nafo concluded with a striking observation that captures the current disconnect: despite generating over 70% of global GDP, cities receive merely 10% of available climate finance. Through the GCF's innovative financing approaches and partnership model, he emphasized, this imbalance can be addressed, empowering urban centers to build the resilient, low-carbon communities that will define our collective future.