Climate Finance for the Urban Poor: A Review of Global Climate Funds

Year Published

2024

Contributing Organizations

United Nations Office for Partnership (UNOP)

Cities Alliance

Type of Resource

Research/Insights Report

Languages

English

Relevant Topics

Core Topic

Just Transition

Topic 2

Climate Finance Ecosystem

Target Audience

Governments & Policymakers

Philanthropies

Education Providers / Think Tanks / NGOs

MDBs/DFIs

Relevant Geography

Global

Africa

Asia & the Pacific

Resource Description

This resource reviews 3,428 projects funded by 22 global climate funds (2003–2023) to assess how much finance targets the urban poor. It analyzes funding trends, project focus, and barriers, and offers recommendations for better inclusion.

Why This Matters

Despite high vulnerability, the urban poor receive minimal climate finance. Better targeting is essential for equitable, locally led climate resilience.

Key Insights

Only 74 projects (21%) target the urban poor, representing just 35% (USD 12 billion) of total funding
Most funding is concentrated in Sub-Saharan Africa and East Asia; South Asia is underfunded
Adaptation dominates by project count, but dual-focus projects receive most funding
Most projects are small-scale; large projects and blended finance are rare
Barriers include lack of data, limited project targeting, and inaccessible funding for local actors
Recommends clearer targeting of urban poor, local access to funds, and stronger community involvement

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