Weekly Newsletter Update - 10 November 2023

The urgency of addressing climate change and achieving net-zero emissions by 2050 is a global imperative. It has been a key part of the narrative at Smart City Expo World Congress in Barcelona this week, and throughout the week we've been reporting on the challenges and potential solutions to reaching this goal, focusing on the role of emerging markets and the need for international cooperation to expand low-carbon energy efficiently.

The first story we're focusing on highlights the lack of climate-responsive projects in emerging markets and developing countries (EMDCs). A report by the Tony Blair Institute for Global Change reveals that private investments in such projects have been decreasing at a rate of approximately 10 per cent per year since 2015, jeopardising the ability of EMDCs to meet their climate goals, and threatening the overall global progress towards net-zero emissions. The report outlines how climate-finance targets demand a substantial increase in climate-responsive projects funded by private capital in these regions – around 30 per cent by 2030. Failing to achieve this target not only hampers global efforts but also deprives EMDCs of the opportunity to transition to a sustainable, low-carbon economy.

To engineer the path to net zero, we need to address the challenges outlined in the second story we're focusing on this week. The Net Zero Readiness report – has emphasised the importance of transformative change to meet global net-zero ambitions. However, significant barriers hinder progress, including global public debt, domestic tensions, opposition to decarbonisation plans, and the need to guarantee energy supply.?The report underscores the necessity for governments and businesses to cooperate on an international scale to make the expansion of low-carbon energy as efficient as possible, which is critical for overcoming the barriers mentioned and facilitating a successful transition to a net-zero future.

Achieving net zero by 2050 is a formidable challenge, but it is imperative for mitigating the worst effects of climate change. These recent reports emphasise that both emerging markets and the global community need to work together to overcome the challenges that stand in the way of progress. By mobilising climate finance, fostering international cooperation, investing in innovation, engaging the public, and establishing supportive regulatory frameworks, we can engineer a path to net zero that benefits everyone and safeguards the planet for future generations.

Luke Antoniou , Senior editor, SmartCitiesWorld

Here is a round up of the headline stories from the past week:

1. C40 Cities announces co-chair model to drive climate action
2. Curitiba crowned Smart City 2023 at World Smart City Awards
3. What is required to engineer the path to net zero?
4. City of Fort Worth joins North Texas Innovation Alliance
5. Innovative charging system startup wins resilience challenge
6. Podcast: Exploring Sunderland's smart city connectivity credentials
7. Net zero progress at risk due to lack of climate-responsive projects in emerging markets
8. Public and private sector confidence in 5G performance grows
9. Smart traffic management spend to increase 75% by 2028
10. Lime launches seated e-scooter in Chicago and Milwaukee
11. Halifax Transit launches digital payment system
12. VivaCity expands into Ireland to help improve road safety
13. Singapore builds inclusive digital society
14. Post-pandemic walking decreases in the US
15. C40 Cities calls on students to reinvent cities using Minecraft
16. New South Wales introduces contactless payments on buses
17. Volocopter eVTOL undertakes crewed flight at Tampa airport
18. SmartCitiesWorld to jointly host Women in Smart Spaces event at Smart City Expo
19. National Highways progresses Digital Roads strategy