About Green City Investment Forum (GCIF2024)
The United Nations’ 2015 "Transforming Our World: the 2030 Agenda for Sustainable Development" addressed the shared challenges of climate change and sustainable urban development has now become the definitive global consensus. However, we are still far from achieving these 17 Sustainable Development Goals (SDGs)! Not to mention Malaysia’s own target of achieving 45% carbon emission reduction by 2030. Issues like climate change, ecological degradation and greenhouse gas emissions significantly lag behind the targets set by the Paris Agreement. These stark realities underscore the necessity for a multi-stakeholders’ engagement in addressing sustainability challenges. While many efforts still find their bearings, Green Cities Investment Forum 2024 (GCIF 2024) is embarking on an innovative approach by bringing all the stakeholders together to accelerate the process of achieving the SDGs.
The rapid pace of urbanization and the impacts of climate change necessitate countries to pursue green city development that is resilient, inclusive, and promotes low-carbon growth while enhancing the livelihoods of all citizens. The Green City Action Plans (GCAP) represent a strategic initiative, providing clear measures and strategies to tackle the economic, environmental, and inclusivity challenges faced by cities. GCAP identify a pipeline of priority Quality Infrastructure Investment (QII) projects. GCAP also serve as a roadmap for guiding cities toward a more sustainable and resilient future! They define "green projects" that encompass urban infrastructure, environmental preservation, and climate resilience.
With support from Asian Development Bank (ADB), the first stage of GCAP implementation was launched in 4 Malaysian cities: Kota Bharu, Kuching (Padawan), Langkawi, and Penang. 10 additional cities have been identified with a pipeline of QII projects, focusing on accelerating resilience and competitiveness. These projects will create capital investment opportunities through private sector financing and the Public, Private, Professional and People partnership (4Ps).
Businesses play a crucial role in green city development, yet they also contribute to GHG emissions. In response, GRI, ESG, GHG, CBAM assessment, audit and reporting mechanisms are emerging as global compliance tools to ensure businesses reduce their carbon footprints. To navigate these evolving trade dynamics, it is imperative for businesses to prioritize carbon management and ESG initiatives as critical mandates for sustainability and global competitiveness.
Acknowledging the efforts of ICLEI in formulating a set of realistic and measurable matrices, and with the support of ADB, GCIF 2024 was conceived to urgently advance the eco-momentum. With GCAP cities now armed with a set of targets, GCIF 2024 is engaging the private and financial sectors, enabling a direct and targeted project-centric approach so that eco-solutions can be matched to a viable financial model. The aim is to formulate and implement effective solutions within the shortest time frame, contributing significantly to Malaysia’s commitment to a 45% carbon emission reduction by 2030.
Recognizing the urgency to implement QII projects and the need for compliance with ESG and GHG emission reduction for low-carbon growth, GCIF 2024 will be organized in Malaysia on 26 - 27 November 2024, leading to the full scaled Summits from September 2025 and beyond. Under the auspices and framework of the Green Cities Initiatives (GCIs) of the Brunei Darussalam-Indonesia-Philippines East ASEAN Growth Area (BIMP-EAGA) and the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT), GCIF2024 aims to foster collaboration among multi-stakeholders, including public, private, people and professional (4Ps); pooling the strength of many parties to explore innovative solutions for QII projects that are scalable and closely aligned with the UN’s SDGs. Building on the success of previous Green Cities Conferences from 2017-2020, GCIF 2024 serves as a platform for city stakeholders to collaborate with:
GCIF 2024 will also address issues and mechanisms for measuring and reporting ESG performance and GHG emissions in business practices, ensuring that technical assistance and financial funding do not become barriers to implementing city-based sustainability projects under GCAP. Organized by an experienced team from both the private and public sectors, GCIF 2024 is a must-attend event for stakeholders to exchange ideas, interact, and forge new partnerships and collaborations, moving towards local government resilience and sustainability.
Date: November 26-27, 2024
Time: 8:00 AM - 6:00 PM
Venue: Grand Hyatt, Kuala Lumpur, Malaysia
