Matchmaker is an initiative that advances the implementation of low-carbon and climate-resilient infrastructure projects through data disclosure and stakeholder consultation. It matches projects with investors. Matchmaker is a joint initiative between CDP and EIT Climate-KIC.
CDP 2015 data shows that 38 per cent of cities worldwide are looking for private financing for mitigation and adaptation actions related to infrastructure projects. The Matchmaker project is helping to break communication and information barriers between cities and potential investors to accelerate climate action in cities.
Climate-related activities in cities are often isolated from economic development outreach, creating communication and information barriers between cities and potential investors. Matchmaker bridges this divide by working with cities to highlight projects in flood control, waste management, sustainable transportation, renewable energy, water management, and energy efficiency. Through Matchmaker, cities can showcase these planned projects to the finance sector in a way that better positions them to attract investment and therefore mitigate against and adapt to climate change.
To help cities attract investment and advance implementation of these low-carbon and climate-resilient infrastructure projects, Matchmaker offers project data disclosure and stakeholder consultation. Subscribers get access to information on low-carbon and climate- resilient infrastructure projects worldwide through a specialised project dashboard derived from the unique CDP Cities disclosure platform and our partners.
Last year, Matchmaker built a first-of-its kind impressive database of over 1000 projects being prepared by 362 cities worldwide (by including a set of questions on infrastructure projects in the survey that goes out to CDP’s database of over 500 cities that disclose environmental footprint data). This database represents USD50 billion worth of potential investment opportunities globally
The launch also triggered an agreement between CDP and the Mississippi River Cities & Towns Initiative (MRCTI) to launch a joint Call for National Infrastructure Proposal and Investment Plan for Disaster Mitigation. This joint call connects 30 mayors in the Mississippi region with funds in the CDP community representing a combined purchasing power of over €2 trillion.*
The longer-term benefits will come from increased investments in low-carbon and resilient action, and economic growth through infrastructure spending.
Access to finance enables city-regions to increase demand for economic activity that delivers adaptation and mitigation—ensuring that the jobs that are created are ones which will continue to be needed into the future.
Furthermore, by strengthening the adaptation economy, it helps to make the case for strategic investment into adaptation measures for existing city infrastructure—not just because there is finance available to do it, but because there is a local supply chain and relevant skills to deliver the work. As extreme weather events become more frequent, city regions, which invest proactively into their key infrastructure, will sustain less of an economic hit when extreme weather strikes.
Finally, there is a public health uplift associated with cities being more resilient to heatwaves and heavy rainfall—particularly in cases where a city’s sanitation and water supply are compromised by these events. This reduces pressure on key services.
Based on the assumption of 130ktCO2 emission reduction per project, the Matchmaker aims to enable 100 projects to receive funding through the platform, totaling 13 MtCO2 saved in the next four years.
By 2025, EIT Climate-KIC expects an aggregated total of 500 projects to have been funded through the Matchmaker, equaling to 65 MtCO2 saved.
Matchmaker was nurtured through the Low Carbon City Lab EIT Climate-KIC flagship programme which provided the following services:
Matchmaker represents a good example of the integration of the public sector (municipalities contributing to the database), NGOs, academics (who developed the questionnaire and built the database), and investors (who provided feedback during its creation and will use it to scout investment opportunities).