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4th Urban Economy Forum(UEF4)
By Dawar Naeem
Dawar is a Community Journalist with FOCUS MEDIA ARTS CENTRE
The Urban Economy Forum is an international organization that collaborates and engages with city leaders to build capacities and global networks to realize the United Nations’ Sustainable Development Goals (SDGs), focusing on sustainable urban economy and finance.
The 4th Urban Economy Forum was held at The World Urban Pavilion in Regent Park, Toronto. It was a hybrid conference, both in-person and virtual. The event was attended by Mayors, Ministers, Financial Leaders, Urban Developers and civil society to discuss and share ideas regarding Sustainable Urban Finance.
250+ speakers from 51 countries and over 170 cities participated in 34 sessions to share ideas and exchange inspiring practices and information on how cities can better realize the sustainable growth of urbanization. Major themes that emerged from the conference included urban climate financing, emerging financial models and technologies, financing housing and urban development, and inclusive urban finance.
The participants exchanged a variety of perspectives and models to encourage global thinking on how cities can manoeuvre challenges they face today. Challenges like, climate change, loss of revenues from COVID-19 health measures, increasing income inequalities, and transitioning toward more eco-friendly practices.
Financial and funding institutions played a major role in this year’s forum as allies for The United Nations' Sustainable Development Goals (SDG). Cities, as transformational forces for global change, must work collaboratively with financial institutions for the world to achieve this global agenda by 2030. Financial institutions are ready and inclined to join forces, but cities must show that they are investment ready. Funds are also increasingly available for initiatives that have social impact, but they must provide private capital a return on investment and the social impacts must be measurable.
To know more about the forum and the discussions that happened visit the Urban Economy Forum website here.
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FOCUS Media Arts Centre (FOCUS) is a not-for-profit organization that was established in 1990 to counter negative media stereotypes of low income communities and provide relevant information to residents living in the Regent Park area and surrounding communities.
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