Background & Rationale
Financing remains one of the greatest hurdles to delivering on ambitious climate goals. Subnational and local governments — often on the front lines of climate action — face persistent challenges in securing the adequate, predictable, and flexible resources needed to plan and implement transformative projects.
While regional climate funds are emerging as a powerful mechanism to bridge this gap, they are only one piece of a broader toolkit available to subnational actors. Innovative financing solutions — from solidarity levies and green bonds to revolving loan facilities, climate-linked public procurement, and partnerships with private investors — can unlock new streams of capital while aligning investments with climate targets and just transition principles.
This side event will explore the range of tools that regional and local governments can deploy to finance mitigation, adaptation, and resilience. Building on Catalonia’s Climate Fund as a pioneering, decentralized model of climate finance, the session will highlight complementary approaches that enhance financial autonomy, improve access to global climate finance, and ensure investments deliver tangible benefits to local communities.
Special emphasis will be placed on transparent governance, participatory decision-making, and the role of innovative finance in fostering cooperation between regions — particularly across the Mediterranean and within international networks.
By convening subnational and regional government leaders, this session at Climate Week NYC 2025 aims to accelerate the uptake of diverse, replicable financing models for climate action at the subnational level.
Speakers confirmed:
Gillian Martin, Cabinet Secretary for Climate and Energy, Government of Scotland (TBC)
Sam Carter, Founding Principal of Resilient Cities Catalyst (RCC) and former Managing Director leading the Resilience Team at the Rockefeller Foundation (TBC)
Neil McFarlane, Director, Special Projects, Department for Environment and Water, Government of South Australia (TBC)
Alessandro Cantoni, Chairman of the Regional Council’s Environment Committee, Government of Lombardy (TBC)
Sonsoles Letang, Director General for Climate Change and Environmental Quality, Government of Catalonia
