By Citi GPS,
May 2, 2018Posted InCiti
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How cities can tackle the sustainability challenges of urbanization
Some 4 billion people, representing 54% of the global population currently live in cities; the UN expects this to grow by 1 billion by 2030, and 2 billion by 2050, by which time 66% of us will be living in cities. To put that in context, that is one and a half extra 'Chinas' or 'Indias', or six extra ‘USAs’ all living in cities over the next 30 years.
Cities may only occupy 2% of our global landmass, but they already consume 75% of all global resources and generate 70% of direct CO2 emissions. These new urban populations will require basic services such as water, energy, sanitation, food, and housing, as well as the 'luxuries' of employment, education, culture, and recreation. What impact will an extra 2 billion people add?
The good news is that trillions of dollars in capital is looking to invest in long-dated, income-generating assets, especially if they are sustainability focused. In our Citi GPS report Infrastructure for Growth, we estimated that global infrastructure spend to 2040 was $58.6 trillion, with the bulk of that urban — but cities are not just about physical infrastructure, they are about people, and hence there is a similarly vast 'social' spending opportunity.
So how do we make it happen? In this report we contrast the vicious and virtuous circles of urban investment, and set out our 'Seven Steps for Sustainable Cities', which examine how cities can make the most of the money which they have, and gain access to greater funding via innovative new financial structures.
To read the report click here.