Excellent panel session at COP 25’s GCoM Day on Unlocking Urban Investment Opportunities on Monday, 9 December 2019. Panelists spoke of ensuring good plans are in place which can be used to attract partnerships with the private sector in financing public projects that benefit the city. Datuk Ismail Ibrahim, Mayor of Iskandar, Malaysia, one of the IUC Asia pilot cities in developing a Climate Action Plan (CAP), pointed out the importance of a robust plan of action (such as the Low Carbon Society Blueprint) to guide and attract investments into the city.
Rotterdam Vice Mayor stated that City Hall has implemented a local climate agreement between the public and private sectors for good joint investments in the city.
Eero Ailio from the European Commission said that EU funds must be tailor-made to specific projects.
Datuk Ismail pointed out the importance of decision-makers n policy-makers to work together to get things done. No two cities are the same, each having its own unique problems and opportunities. Thus, in Iskandar Malaysia, IRDA involves the businesses in public projects at an early stage to get buy-in and make projects bankable.
In closing, Datuk Ismail stressed that it is not always necessary or all important to get external funds for city projects. You could have all the funds but projects still fail. What is important is good relationships, a robust plan n good governance.