Publication: Carbon Crediting and Urban Climate Change Mitigation: Assessing Potential Impacts
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2023
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2025-04-16
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Approximately 70 percent of greenhouse gas emissions are generated through consumption in urban areas, which means that decarbonization of cities is essential to limit climate change to 1.5 to 2 °C. While per capita emissions in low- and middle-income countries remain low so far, prompt action is needed to ensure that cities in these countries remain on a low-carbon pathway, before rapid urbanization and increases in consumption lock in high emissions for decades. Technically feasible actions can cut up to 90% of emissions in cities globally between now and 2050. However, the infrastructure investments necessary to do this would cost USD 1.8 trillion each year, by one estimate.
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“Hoornweg, Daniel; Wotten, David; Deuskar, Chandan. 2023. Carbon Crediting and Urban Climate Change Mitigation: Assessing Potential Impacts. City Climate Finance Gap Fund Technical Note. © World Bank. http://hdl.handle.net/10986/43078 License: CC BY-NC 3.0 IGO.”
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