investing in sustainable cities: policy, planning, and ... wood.pdf“on the eve of rio+20,...
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Investing in Sustainable Cities: Policy, Planning, and Private
Investment
David Wood
February 20, 2013
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Why Sustainable Cities?
“On the eve of Rio+20, governments are challenged to build a world that is safer, cleaner and healthier in a ‘do more with less’ environment. Such a sustainable world starts with sustainable cities. Partnering to invest in sustainable and resilient cities is therefore central to achieving this goal.”
Angel Gurría, OECD Secretary-General
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Songdo, South Korea
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Lagos, Nigeria
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Detroit, Michigan, USA
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Why Sustainable Cities?
• Macro Context for Responsible Investment:
– Urbanization
– Climate change
– Resource scarcity
• What attracts investors?
– Scale
– Dynamism
– Infrastructure, physical and social
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Metropolitan Area Planning Commission (MAPC), Massachusetts
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Jardim Gramacho, Rio de Janeiro, Brazil
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Bogotá, Colombia
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Joint European Support for Sustainable Investment in City Areas (JESSICA)
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Policy and the Market
SUPPLY DEVELOPMENT DIRECTING CAPITAL DEMAND DEVELOPMENT
Taxes, subsidies, reporting requirements
and intermediation
Investment rules and
requirements
Enabling “corporate” structures
Procurement Co-investment Capacity building
GOVERNMENT INFLUENCE GOVERNMENT DIRECT PARTICIPATION
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Challenges for policy makers
• Coordinating time horizons
• Coordinating public planning and private investment
• Integrating growth and equity
• Entwining sustainability and investment
• Building investment products
• Monitoring social and environmental performance