New energy, water and sanitation technologies alter the public good nature of urban services and offer novel opportunities for private sector financiers and blended finance. Still, financial sector innovation remains necessary if technological innovation is to be scaled . UNEP has cited anecdotal evidence of a 'quiet revolution' toward a more developmental and sustainable global finance sector, in part due to global environmental, social and governance requirements, and industry initiatives within the financial and insurance sectors . Scope remains to strengthen Development Finance Institutions programmes, such as the World Bank's City Creditworthiness Programme and the activities of China's ExIm Bank, with a bespoke urban climate dimension.
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report