7th OECD Roundtable on Cities and Regions for the SDGs - Session II

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Cities and regions are critical actors in driving the SDGs. About 105 of the 169 SDGs targets will not be reached without the engagement of, and co-ordination with local and regional governments. However, many cities and regions are confronted with a persistent lack of financial resources to invest in SDG efforts. The global SDG financing gap is estimated at an annual USD 3.9 trillion. Recent global initiatives, such as the SDSN Global Commission for Urban SDG Finance, have shed further light on SDG financing needs in cities and regions. Local and regional governments need new tools and mechanisms to scale up the localisation of the SDGs and finance the cities of tomorrow, including to tap into sustainable finance, municipal bonds, public-private partnerships and other types of financing from the private sector. They also require tools to monitor the effective use of different financing instruments.