Municipal finance shapes urban climate action and justice – Nature.com – CROCODOM.com

Estimated read time 11 min read


Premium Domain Names for Sale at CrocoDom.com
Thank you for visiting nature.com. You are using a browser version with limited support for CSS. To obtain the best experience, we recommend you use a more up to date browser (or turn off compatibility mode in Internet Explorer). In the meantime, to ensure continued support, we are displaying the site without styles and JavaScript.
Advertisement
Nature Climate Change (2024)
157 Accesses
1 Citations
12 Altmetric
Metrics details
Implementing climate policies and programmes in cities requires substantial investments that inevitably entangle climate action with urban climate finance—the mechanisms and practices city governments use to pay for climate efforts. Here we use US cities as a case study to examine how climate finance impacts, and is impacted by, the pursuit of urban climate action and climate justice. Drawing on 34 expert interviews, we show how municipal financial decisions and budgetary practices are shaping how, when and for whom cities are responding to climate change. We demonstrate how public spending decisions are intertwined with the logics of debt financing and examine the impacts of these relationships on cities’ climate investments. We showcase the structuring impacts of finance on climate action and the built environment, and we introduce pathways through which climate and justice considerations are already being integrated into, and potentially transforming, municipal finance in the United States.
This is a preview of subscription content, access via your institution

Access Nature and 54 other Nature Portfolio journals
Get Nature+, our best-value online-access subscription
$29.99 / 30 days
cancel any time

Subscribe to this journal
Receive 12 print issues and online access
$209.00 per year
only $17.42 per issue

Rent or buy this article
Prices vary by article type
from$1.95
to$39.95

Prices may be subject to local taxes which are calculated during checkout
Interview transcripts and analysed interview data are not publicly available because they contain information that would compromise the research participants’ confidentiality and undermine the process of informed consent.
No custom algorithms or code were used in the collection or analysis of the data. All interview data were analysed using Vivo 12 Pro software.
Fuhr, H., Hickmann, T. & Kern, K. The role of cities in multi-level climate governance: local climate policies and the 1.5 °C target. Curr. Opin. Environ. Sustain. 30, 1–6 (2018).
Article  Google Scholar 
Bulkeley, H. Climate changed urban futures: environmental politics in the Anthropocene city. Environ. Polit. 30, 266–284 (2021).
Article  Google Scholar 
Cities and Climate Change: Global Report on Human Settlements 2011. Cities and Climate Change (UN Habitat, 2011).
Shi, L. et al. Roadmap towards justice in urban climate adaptation research. Nat. Clim. Change 6, 131–137 (2016).
Article  ADS  Google Scholar 
Angelo, H. & Wachsmuth, D. Why does everyone think cities can save the planet? Urban Stud. 57, 2201–2221 (2020).
Article  Google Scholar 
Bulkeley, H. Cities and the governing of climate change. Annu. Rev. Environ. Resour. 35, 229–253 (2010).
Article  Google Scholar 
Hsu, A. et al. Performance determinants show European cities are delivering on climate mitigation. Nat. Clim. Change 10, 1015–1022 (2020).
Article  ADS  Google Scholar 
Negreiros, P. et al. The State of Cities Climate Finance Part 1: The Landscape of Urban Climate Finance (Climate Policy Initiative, 2021); https://www.climatepolicyinitiative.org/wp-content/uploads/2021/06/SCCF_PART1-FINAL-1.pdf
Chu, E. K. & Cannon, C. E. Equity, inclusion, and justice as criteria for decision-making on climate adaptation in cities. Curr. Opin. Environ. Sustain. 51, 85–94 (2021).
Article  Google Scholar 
Diezmartínez, C. V. & Short Gianotti, A. G. US cities increasingly integrate justice into climate planning and create policy tools for climate justice. Nat. Commun. 13, 5763 (2022).
Article  PubMed  PubMed Central  ADS  Google Scholar 
Hughes, S. & Hoffmann, M. Just urban transitions: Toward a research agenda. WIREs Clim. Change 11, e640 (2020).
Cannon, C., Chu, E., Natekal, A. & Waaland, G. Translating and embedding equity-thinking into climate adaptation: an analysis of US cities. Reg. Environ. Change 23, 30 (2023).
Article  Google Scholar 
Knuth, S. in Urban Climate Justice: Theory, Praxis, Resistance 66–88 (Univ. of Georgia Press, 2023).
Silver, J. in Urban Climate Justice: Theory, Praxis, Resistance 89–105 (Univ. of Georgia Press, 2023).
Davidson, K. & Gleeson, B. Interrogating urban climate leadership: toward a political ecology of the C40 network. Glob. Environ. Polit. 15, 21–38 (2015).
Article  Google Scholar 
Bouteligier, S. Inequality in new global governance arrangements: the North–South divide in transnational municipal networks. Innov. Eur. J. Soc. Sci. Res. 26, 251–267 (2013).
Article  Google Scholar 
Bracking, S. & Leffel, B. Climate finance governance: fit for purpose? WIREs Clim. Change 12, e709 (2021).
Article  Google Scholar 
Bigger, P. & Webber, S. Green structural adjustment in the World Bank’s resilient city. Ann. Am. Assoc. Geogr. 111, 36–51 (2021).
Google Scholar 
Acuto, M. & Rayner, S. City networks: breaking gridlocks or forging (new) lock-ins? Int. Aff. 92, 1147–1166 (2016).
Article  Google Scholar 
Bigger, P. & Millington, N. Getting soaked? Climate crisis, adaptation finance, and racialized austerity. Environ. Plan. E Nat. Space 3, 601–623 (2020).
Article  Google Scholar 
Christophers, B. Risk capital: urban political ecology and entanglements of financial and environmental risk in Washington, D.C. Environ. Plan. E Nat. Space 1, 144–164 (2018).
Article  Google Scholar 
Hadfield, P. & Coenen, L. Contemporary financial capitalism and sustainability transitions in urban built environments. Environ. Innov. Soc. Transit. 42, 285–300 (2022).
Article  Google Scholar 
Hadfield, P. & Cook, N. Financing the low-carbon city: can local government leverage public finance to facilitate equitable decarbonisation? Urban Policy Res. 37, 13–29 (2019).
Article  Google Scholar 
Shi, L. & Varuzzo, A. M. Surging seas, rising fiscal stress: exploring municipal fiscal vulnerability to climate change. Cities 100, 102658 (2020).
Article  Google Scholar 
Long, J. Crisis capitalism and climate finance: the framing, monetizing, and orchestration of resilience-amidst-crisis. Polit. Gov. 9, 51–63 (2021).
Google Scholar 
Weikmans, R., Roberts, J. T. & Robinson, S. What counts as climate finance? Define urgently. Nature 588, 220 (2020).
Article  CAS  PubMed  ADS  Google Scholar 
Keenan, J. M., Chu, E. & Peterson, J. From funding to financing: perspectives shaping a research agenda for investment in urban climate adaptation. Int. J. Urban Sustain. Dev. 11, 297–308 (2019).
Article  Google Scholar 
Cousins, J. J. & Hill, D. T. Green infrastructure, stormwater, and the financialization of municipal environmental governance. J. Environ. Policy Plan. 23, 581–598 (2021).
Article  Google Scholar 
Cox, S. Inscriptions of resilience: bond ratings and the government of climate risk in Greater Miami, Florida. Environ. Plan. A 54, 295–310 (2022).
Article  Google Scholar 
Karpf, A. & Mandel, A. The changing value of the ‘green’ label on the US municipal bond market. Nat. Clim. Change 8, 161–165 (2018).
Article  ADS  Google Scholar 
Langley, P., Bridge, G., Bulkeley, H. & van Veelen, B. Decarbonizing capital: investment, divestment and the qualification of carbon assets. Econ. Soc. 50, 494–516 (2021).
Article  Google Scholar 
Cox, S. Bonding out the future: tracing the politics of urban climate finance in Miami, Florida. J. Urban Aff. https://doi.org/10.1080/07352166.2023.2192941 (2023).
Article  Google Scholar 
Long, J. & Rice, J. L. Climate urbanism: crisis, capitalism, and intervention. Urban Geogr. 42, 721–727 (2021).
Article  Google Scholar 
Ponder, C. S. Spatializing the municipal bond market: urban resilience under racial capitalism. Ann. Am. Assoc. Geogr. 111, 2112–2129 (2021).
Google Scholar 
August, M. et al. Reimagining geographies of public finance. Prog. Hum. Geogr. 46, 527–548 (2022).
Article  Google Scholar 
Robin, E. Rethinking the geographies of finance for urban climate action. Trans. Inst. Br. Geogr. 47, 393–408 (2022).
Article  Google Scholar 
Cox, S. in Urban Climate Justice: Theory, Praxis, Resistance 205–219 (Univ. of Georgia Press, 2023).
Taylor, Z. J. & Knuth, S. E. Financing ‘climate-proof’ housing? The premises and pitfalls of PACE finance in Florida. J. Urban Aff. https://doi.org/10.1080/07352166.2023.2247503 (2023).
Article  Google Scholar 
Taylor, Z. J. & Aalbers, M. B. Climate gentrification: risk, rent, and restructuring in Greater Miami. Ann. Am. Assoc. Geogr. 112, 1685–1701 (2022).
Google Scholar 
Knuth, S. et al. Interrupted rhythms and uncertain futures: mortgage finance and the (spatio-) temporalities of climate breakdown. J. Urban Aff. https://doi.org/10.1080/07352166.2023.2229462 (2023).
Article  Google Scholar 
Shi, L. et al. Can Florida’s coast survive its reliance on development? J. Am. Plann. Assoc. https://doi.org/10.1080/01944363.2023.2249866 (2023).
Article  Google Scholar 
Shi, L. & Moser, S. Transformative climate adaptation in the United States: trends and prospects. Science https://doi.org/10.1126/science.abc8054 (2021).
Jenkins, D. The Bonds of Inequality: Debt and the Making of the American City (Univ. of Chicago Press, 2021).
Bridge, G., Bulkeley, H., Langley, P. & van Veelen, B. Pluralizing and problematizing carbon finance. Prog. Hum. Geogr. 44, 724–742 (2020).
Article  Google Scholar 
United Nations Framework Convention on Climate Change. Climate Finance in the Negotiations https://unfccc.int/topics/climate-finance/the-big-picture/climate-finance-in-the-negotiations (2023).
Colenbrander, S., Dodman, D. & Mitlin, D. Using climate finance to advance climate justice: the politics and practice of channelling resources to the local level. Clim. Policy 18, 902–915 (2018).
Article  Google Scholar 
Christophers, B., Bigger, P. & Johnson, L. Stretching scales? Risk and sociality in climate finance. Environ. Plan. A 52, 88–110 (2020).
Article  Google Scholar 
Garschagen, M. & Doshi, D. Does funds-based adaptation finance reach the most vulnerable countries? Glob. Environ. Change 73, 102450 (2022).
Article  Google Scholar 
Khan, M., Robinson, S.-A., Weikmans, R., Ciplet, D. & Roberts, J. T. Twenty-five years of adaptation finance through a climate justice lens. Clim. Change https://doi.org/10.1007/s10584-019-02563-x (2019).
Barrett, S. Local level climate justice? Adaptation finance and vulnerability reduction. Glob. Environ. Change 23, 1819–1829 (2013).
Article  Google Scholar 
Vinnari, E. M. & Näsi, S. Creative accrual accounting in the public sector: ‘milking’ water utilities to balance municipal budgets and accounts. Financ. Account. Manage. 24, 97–116 (2008).
Article  Google Scholar 
Rubin, I. S. Municipal enterprises: exploring budgetary and political implications. Public Adm. Rev. 48, 542–550 (1988).
Article  Google Scholar 
Parker, C., Scott, S. & Geddes, A. Snowball sampling. SAGE Res. Methods https://doi.org/10.4135/9781526421036831710 (2019).
Article  Google Scholar 
Baxter, J. & Eyles, J. Evaluating qualitative research in social geography: establishing ‘rigour’ in interview analysis. Trans. Inst. Br. Geogr. 22, 505–525 (1997).
Article  Google Scholar 
Download references
This work was supported by a Boston University Initiative on Cities Early Stage Urban Research Grant (C.V.D., A.G.S.G.), a Boston University Institute for Global Sustainability Fellowship (C.V.D.), a National Science Foundation grant (NSF 2314889, A.G.S.G.) and a National Science Foundation Research Traineeship (NRT) grant to Boston University (DGE 1735087, C.V.D.). We are grateful to all the anonymous experts who generously shared their time and knowledge for this research.
Department of Earth and Environment, Boston University, Boston, MA, USA
Claudia V. Diezmartínez & Anne G. Short Gianotti
You can also search for this author in PubMed Google Scholar
You can also search for this author in PubMed Google Scholar
C.V.D. wrote the original draft, conceptualized the project, developed the methodology, collected and analysed data, and acquired funding. A.G.S.G. conceptualized the project, developed the methodology, acquired funding, reviewed and edited the paper, and supervised the project.
Correspondence to Claudia V. Diezmartínez.
The authors declare no competing interests.
Nature Climate Change thanks Nicole Cook, David Gordon and Zac Taylor for their contribution to the peer review of this work.
Publisher’s note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Appendix A. Sample interview script. Appendix B. Final coding protocol for interview transcripts.
Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
Reprints and permissions
Diezmartínez, C.V., Short Gianotti, A.G. Municipal finance shapes urban climate action and justice. Nat. Clim. Chang. (2024). https://doi.org/10.1038/s41558-024-01924-4
Download citation
Received:
Accepted:
Published:
DOI: https://doi.org/10.1038/s41558-024-01924-4
Anyone you share the following link with will be able to read this content:
Sorry, a shareable link is not currently available for this article.

Provided by the Springer Nature SharedIt content-sharing initiative
Nature Climate Change (2024)

Advertisement
Nature Climate Change (Nat. Clim. Chang.) ISSN 1758-6798 (online) ISSN 1758-678X (print)
© 2024 Springer Nature Limited
Sign up for the Nature Briefing newsletter — what matters in science, free to your inbox daily.

source
Premium Domain Names:

A premium domain name is a highly sought-after domain that is typically short, memorable, and contains popular keywords or phrases. These domain names are considered valuable due to their potential to attract more organic traffic and enhance branding efforts. Premium domain names are concise and usually consist of one to two words or two to four individual characters.

Top-Level Domain Names for Sale on Crocodom.com:

If you are looking for top-level domain names for sale, you can visit Crocodom.com. Crocodom.com is a platform that offers a selection of domain names at various price ranges. It is important to note that the availability of specific domain names may vary, and it’s recommended to check the website for the most up-to-date information.

Contact at crocodomcom@gmail.com:

If you have any inquiries or need assistance regarding the domain names available on Crocodom.com, you can reach out to them via email at crocodomcom@gmail.com. Feel free to contact them for any questions related to the domain names or the purchasing process.

Availability on Sedo.com, Dan.com, and Afternic.com:

Apart from Crocodom.com, you can also explore other platforms like Sedo.com, Dan.com, and Afternic.com for available domain names. These platforms are popular marketplaces for buying and selling domain names. Each platform may have its own inventory of domain names, so it’s worth checking multiple sources to find the perfect domain name for your needs.

#PremiumDomains #DomainInvesting #DigitalAssets #DomainMarketplace #DomainFlipping #BrandableDomains #DomainBrokers #DomainAcquisition #DomainPortfolio #DomainIndustry #DomainAuctions #DomainInvestors #DomainSales #DomainExperts #DomainValue #DomainBuyers #DomainNamesForSale #DomainBrand #DomainInvestment #DomainTrading



Source link

You May Also Like

More From Author

+ There are no comments

Add yours