Opinion / Jessica Bridger
Fund global, act local
The world’s top civic leaders gathered at the Brussels Urban Summit (pictured) last week to discuss how cities can be vehicles for innovation. The inaugural event brought together more than 140 mayors, major city organisations and over 1,000 attendees from hundreds of municipalities. As the summit wrapped up, I picked up two key themes from delegates. First, that cities have more potential than national governments to be driving forces of sustainable development. Second, that they all share similar fundamental challenges.
An estimated 68 per cent of people will live in urban areas by 2050 and challenges such as climate change, migration, inequality and housing, which fall into the domain of national governments, will have to be dealt with locally. Initiatives such as the UN’s Agenda 2030 and its Sustainable Development Goals provide nations with blueprints to tackle issues ranging from energy to urbanism but taking specific action at a local level is often more complicated.
The summit showcased innovative public spaces in Paris and Ramallah, and there were calls for land acquisition in Montevideo and energy-saving initiatives in Hamburg. Yet regional governments often don’t wield enough power to make final decisions. An exciting solution in the offing is for cities to be able to tap directly into international financial aid without the approval of national governments. Both the Asian Development Bank and the World Bank were mentioned at the summit as possible lenders. It might be too early to speculate on when or whether such a financing strategy will become a reality. But if it does, it could be a meaningful step towards a municipal revolution that gives cities the power to really cash in on change.
Jessica Bridger is an urbanist and consultant, and Monocle’s contributing editor. For more opinion, analysis and insight, subscribe to Monocle today.