UN-Habitat calls for new financing framework for urban development

UN-Habitat calls for new financing framework for urban development

NAIROBI, Nov. 1 (Xinhua) — Executive Director of the United Nations Human Settlements Program (UN-Habitat) Maimunah Mohd Sharif on Tuesday called for a new financing framework that can empower cities worldwide to reverse negative trends and facilitate sustainable urban development.

Commemorating World Cities Day, Sharif said the world’s cities need to invest in integrated planning and commit to shelter and housing as a human right.

“Things might seem impossible, but I am always optimistic. I believe in turning the Impossible into I’M Possible. Cities and human settlements, big or small, are our hope. We can unlock the opportunities they offer and create conditions for growth and recovery.”

According to the UN-Habitat, sustainable cities yield various positive outcomes, including robust economic growth, the protection and conservation of ecosystems and natural resources for future generations, and the mitigation of greenhouse gas emissions.

World Cities Day, designated by the United Nations to underscore the significance of cities and promote sustainable urban development, is observed annually on Oct. 31.

The aim is to raise awareness of the imperative to make cities more sustainable, accessible, and livable.

This year’s celebrations revolved around the theme of “Financing a sustainable urban future for all.”

The event, held in Istanbul, Türkiye, saw the participation of more than 1,000 representatives from around the world, both in person and online.

The recommendations arising from these discussions will be shared during the ministerial session on urban action and climate change at COP28 in December, according to the UN-Habitat.

World Cities Day was established by the UN General Assembly in 2013 and was first celebrated in Shanghai, China, in 2014.

XINHUA

Xinhua News Agency, founded on November 7, 1931, is China’s national news agency as well as a global news and information network. Xinhua has set up a global news and information gathering network, with headquarters in Beijing, 33 domestic bureaus in provinces, autonomous regions and municipalities plus the special administrative regions of Hong Kong and Macao, as well as 140 bureaus in the rest of the world. Xinhua is yet to set up a bureau in Taiwan, where it has posted resident correspondents. Xinhua provides its worldwide subscribers with news and financial information products in the forms of text, photo, graphics, audio, video, and mobile phone text messages 24 hours a day in eight languages: Chinese, English, French, Russian, Spanish, Arabic, Portuguese and Japanese.