Carbon Crediting and Urban Climate Change Mitigation

Approximately 70 percent of greenhouse gas emissions are generated through consumption in urban areas, which means that decarbonization of cities is essential to limit climate change to 1.5 to 2 °C. While per capita emissions in low- and middle-income countries remain low so far, prompt action is needed to ensure that cities in these countries remain on a low-carbon pathway, before rapid urbanization and increases in consumption lock in high emissions for decades. Technically feasible actions can cut up to 90% of emissions in cities globally between now and 2050. However, the infrastructure investments necessary to do this would cost USD 1.8 trillion each year, by one estimate