The Task Forces

The Commission is comprised of six Task Forces working to analyze barriers to urban SDG finance, evaluate existing proposals to improve urban finance access, and develop new strategies and mechanisms to better align the Global Financial Architecture with urban needs. Task forces include: (1) reforming multilateral development banks; (2) augmenting existing and/or creating new funds/institutions; (3) attracting private sector participation; (4) developing an advocacy strategy; (5) recognizing geography and context; and (6) balancing mitigation and adaptation finance.

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Task Force 1


Led by: Priscilla Negreiros, Josué Tanaka

This Task Force will enumerate the types of subnational investments appropriate for MDB attention (e.g., project preparation, construction, and operations) It will summarize the eligible investments (e.g., physical, social, and infrastructure) and recommend relevant changes to MDB mission statements and mandates. It will align with current discussions on MDB/IMF reform including suggestions for amending the capital adequacy frameworks, increasing capital flows, greater use of guarantees, allowing local currency lending, and adding natural disaster and pandemic clauses to take the pressure off borrowers in times of crisis, as suggested in the Bridgetown Initiative. It will explore how the Global Emerging Markets (GEM) risk database might give more coverage to subnational borrowing in their credit default statistics reports and apply recommendations of the Report of the Independent High Level Expert Group on Climate Finance (2022) to subnational levels as well as outline changes to institutional arrangements necessary to create enabling environments receptive to the suggested recommendations.

Task Force 2


Led by: Angel Cardenas, Mayor Jaime Pumarejo

This Task Force will analyze the multiple proposals in circulation about re-thinking institutional structures to attend to subnational needs ranging from energizing Finance Ministries to pay more attention to financing subnational projects and augmenting existing funds like the IMF’s Resilience and Sustainability Trust to creating a new ones (e.g., global challenges funding mechanism,Global Climate Mitigation Trust, city green bank, a Green Cities Development Bank, and Global Shield Platform). It will also analyze proposals for developing stronger partnerships among national and regional development banks and the MDBs to adopt a “core cities,” approach as exemplified by the UK’s Cities Commission for Climate Investment (3ci) Partnership. This Task Force will also explore bold, disruptive institutional reforms to the Global Finance Architecture to make it more “cities friendly.”

Task Force 3


Led by: Alice Charles, Greg Clark

This Task Force will outline the types of investment appropriate for private sector engagement and make recommendations for crowding in private investment for subnational finance via activating and enhancing existing instruments (e.g., blended finance, public private partnerships, green/social bonds), innovative tools (land value capture, lending in local currency) and institutions and services (e.g., Liquidity and Sustainability Facility, Global Emerging Markets (GEM) risk database). It will alsoreview GFANZ transition plans recommendationslinked with the McKenna Report Principles to find ways to incorporate subnational lending in these plans, as well as explore means for philanthropies to use their resources in de-risking equity investments.

Task Force 4


Led by: Andrea Fernandez, Mayor Mohammed Sefiani

This Task Force will develop a timeline and associated strategies to develop awareness and promote the work of the Commission among public and private decision-makers. It will work with city networks, G7 and G20 engagement groups, particularly the U20, and sherpas, especially national financial ministers, key units of the United Nations, relevant World Economic Forum Futures Councils, private sectors industry groups, Civil Society, and others.

Task Force 5


Led by: Paul Smoke, Mayor Atiqul Islam

Using World Bank country designations (low-income, lower-middle-income, upper-middle-income, high-income), or the World Economic Forum (WEF) city designations (Self Reliant, Aspiring, Striving, Dependent), the members of this Task Force will make sure that all other Task Forces are paying attention to the differences among cities by discussing financing recommendations appropriate to different locations across the globe. They will also ensure that the Task Forces offer recommendations that recognize that “urban” can encompass multiple forms of government – regions, provinces, states, metropolitan areas, cities, and towns.

Task Force 6


Led by: Andy Deacon, Mayor Daniella Levine-Cava

Distinguishing the financial instruments available for mitigation and adaptation projects and addressing the need to enhance them in all the Task Forces will be the responsibility of this Task Force. In view of the current imbalance between mitigation and adaptation finance, this Task Force will work with the Commission members to come up with concrete recommendations to overcome this situation and make sure that cities can access the necessary resources to build resilience and protect lives from climate-driven hazards.