'Green finance' is expected to expand faster than other financial sectors
About us | Quiénes somos |
A propos de nous | Über uns |
Mayors explore guaranteed income targeted at low-income Americans
Local government finance - USA
US cities finances
Stimulus package for US cities
NYC prepares for future
LA in real estate crisis
Cell phone tax
US subprime mortgage crisis
NC local government finance
US cities' legal powers
Politically neglected US cities
US community grant eliminated
Local government mergers
Large US cities hardest hit by recession
Metro job growth in the US
Largest US cities
US local government
Directory of US cities
Poverty in US cities
City Mayors reports news from towns and cities around the world. Worldwide | Elections | North America | Latin America | Europe | Asia | Africa |
City Mayors ranks the world’s largest, best as well as richest cities and urban areas. It also ranks the cities in individual countries, and provides a list of the capital cities of some 200 sovereign countries. More
City Mayors profiles city leaders from around the world. More
City Mayors describes the history, architecture and politics of the greatest city halls in the world. More
Mayors from The Americas, Europe. Asia, Australia and Africa compete for the World Mayor Award. More
Use Mayor Monitor to rate the performance of mayors from across the world More
In your opinion: Praise Criticise. Write
City Mayors reports political events, analyses the issues and depicts the main players. More
City Mayors describes and explains the structures and workings of local government in Europe, The Americas, Asia, Australia and Africa. More
City Mayors deals with economic and investment issues affecting towns and cities. More
City Mayors describes and explains financial issues affecting local government. More
City Mayors reports urban environmental developments and examines the challenges faced by cities worldwide. More
City Mayors reports on and discusses urban development issues in developed and developing countries. More
City Mayors reports on developments in urban society and behaviour and reviews relevant research. More
City Mayors invites readers to write about the people in their cities. More
City Mayors examines city brands and marketing. More
City Mayors lists and features urban events, conferences and conventions aimed at urban decision makers and those with an interest in cities worldwide. More
City Mayors deals with urban transport issues in developed and developing countries and features the world’s greatest metro systems. More
City Mayors examines education issues and policies affecting children and adults in urban areas. More
City Mayors investigates health issues affecting urban areas with an emphasis on health in cities in developing countries. More
City Mayors reports on how business developments impact on cities and examines cooperation between cities and the private sector. More
City Mayors examines the contributions history and culture make to urban society and environment. More
City Mayors examines the importance of urban tourism to city economies. More
City Mayors questions those who govern the world’s cities and talks to men and women who contribute to urban society and environment. More
City Mayors profiles national and international organisations representing cities as well as those dealing with urban issues. More
City Mayors reports on major national and international sporting events and their impact on cities. More
City Mayors lists cities and city organisations, profiles individual mayors and provides information on hundreds of urban events. More
Edinburgh aims to become
‘Davos of Green Finance’
By Brian Baker, Senior Correspondent
13 October 2010: Scotland’s First Minister Alex Salmond told an audience of investors and industrialists in late September that a new conference to be held annually in Edinburgh on low carbon investment will make the city known as the 'Davos of Green Finance'.
Salmond’s administration and several Scottish based international companies have launched this event because the difficulty in getting investment on satisfactory terms is currently a major stumbling block to the switch to a low carbon future. This is particularly important for those countries, like Portugal, Scotland and Denmark, which aim for a significant manufacturing and exporting renewables sector.
Did the conference come up with any answers? Well, possibly.
Bloomberg’s Alistair McCrone, from the financial and business information company Bloomberg. Chaired the conference flagged up the scale of the challenges facing local, regional and national administrations in securing the pace and extent of investment finance needed to create their low carbon economies of the future.
McCrone warned that the current threats by the Spanish government to re-negotiate the terms of feed-in tariffs to solar companies would frighten off global investors. He said investor confidence would be harmed by any moves to use clean energy in any global protectionist actions
The Scottish Government has set the highest targets for carbon emissions reductions in Europe but the UK’s clean energy base is low. UK Energy Minister Charles Hendry told the conference that the “potential is extraordinary but we are currently third worst in Europe in renewables. We have a shared responsibility to put in place the policies which will make investment happen.”.
Participants agreed that investment capital from the private sector for renewable energy schemes was difficult to secure as the risks are seen as to high and the too low by many lenders, especially debt lenders. This is to be expected currently in the emerging wave and tidal technologies but is also a problem in off-shore wind where construction and installation weaknesses are yet to be resolved.
For cities and towns, energy efficiency for the end user and the financing of small-scale renewables infrastructure are of at least as much importance as large-scale investment.
The need for financial experts, manufacturers and government specialists to focus more time and skills on energy efficiency and the local perspective was recognised at the event.
But for all levels of government and for populations, the construction of a grid system which connects Europe up is vital to their ability to secure their targets and create clean economies in their areas.
The conference, attended by banking and other financial professionals as well as manufacturing and legal companies, heard the European Commission’s Georg Abramovich emphasise that the prospects for agreement and a go-ahead for grid upgrading across Europe utilising sub-sea cables in the Mediterranean, North and Baltic Seas were good. He said that the EU Commissioners recognised it was one of Europe’s key tasks in the transition to low carbon.
Georg Abramovich said “If you want to be successful with the EU target for renewables you need grids.grids.grids. This can only happen if we have a new feeling across the states. I am very happy that the North Sea countries are discussing together the future of renewables and off-shore grids. We need a new framework for investment into these grids that cross the North Sea and the cross state boundaries.”
At the conference Nathan Goode, of global accountancy firm Grant Thornton, described the work they were doing on the resources and technologies, which cities need to be able to better access to pursue their carbon emission reduction goals.
He said cities and city regions drove economies so must drive the transition to low carbon. Goode told attendees “locally based funds drawing on individual, businesses and public sector investors, with sustainability as core criteria, will be place- based, long-term and relatively low-risk.” A report will be published later in 2010.
In his closing address, Scotland’s First Minister announced that the Low Carbon Investment Conference in Edinburgh would be an annual event and claimed it would echo the Davos World Economic Forum in bringing international perspectives to current challenges. “Next year, energy efficiency will be the main theme of the event,” he said.
Comment on this article