'Significant opportunities' for low-carbon cities
Switching to a low-carbon economy offers cities "significant economic opportunities", an assessment says.
Low-carbon markets was worth US $33bn (£26bn) to London's economy, the Carbon Disclosure Project (CDP) said in its latest report.
However, collaboration between public and private sectors was an essential ingredient needed to deliver economic growth and carbon cuts, it observed.
The findings examined the commitments made by 533 cities around the world.
The report, It Takes a City: The Case for Collaborative Climate Action, added that the cities spread over 89 nations had identified more than 1,000 economic opportunities linked to climate change. Almost 300 cities featured in the report were also developing new business industries, such as clean technology.
CDP, formerly known as the Carbon Disclosure Project, describes itself as "an international, not-for-profit organization providing the global system for companies, cities, states and regions to measure, disclose, manage and share vital environmental information".
The report was published by CDP and AECOM, a multinational engineering firm, and sponsored by Bloomberg Philanthropies.
Maia Kutner, head of cities at CDP, said that many cities were already collaborating with businesses so there was "no need to reinvent the wheel" in order to get the two sides talking to each other.
"Nearly two thirds of the cities globally are telling us that they are collaborating one way or another with the private sector on climate change already," she explained.
"One very common way is to share knowledge; to convene these groups where they can share knowledge on how to reduce emissions and to how to adapt to climate change.