Network of Regional Governments
for Sustainable Development
for Sustainable Development
The Network of Regional Governments for Sustainable Development (nrg4SD) and CDC Climat share the common commitment to work together on financing climate action at subnational level. The cooperation is intended to leverage the means of both nrg4SD and CDC Climat by a close cooperation between the Parties that will help them to better understand the context of the international climate change negotiations, the international, national and regional frameworks that help to address this issue, and thus to help subnational governments to be able to play a role as efficient as possible.
nrg4SD is willing to develop a better understanding of the carbon financial mechanisms in order to create technical capacity in subnational governments/regional governments on existing carbon finance works, and to enable subnational governments/regional governments to set up their own regional carbon finance tools. nrg4SD is also willing to elaborate nrg4SD lobby strategies at EU and UN level pursuant carbon finance tools adapted to the needs of the subnational/regional level.
Financing climate action at subnational level
CDC Climat is willing to help subnational government to set up new local financial instruments aimed to tackle climate change. It started to develop the concept of local carbon funds aimed at financing low carbon projects under the initiative of subnational governments. It therefore advocates the necessity to keep the existing projects mechanisms, known at CDM and JI, in the overall international legal climate architecture, to improve these mechanisms while developing future mechanisms. It is willing to rely on nrg4SD to emphasise this need and advocate it in international negotiations. It also intends to demonstrate through real concrete pilot initiatives developed with some nrg4SD members all the interest of such a subnational approach. In the medium term, CDC Climat has a keen interest in investing in regional climate funds developed through the initiative of subnational governments.
