Press Release

Urban Economy Forum 5 + World Planning Congress 59: Joint Conference Unites Global Leaders Addressed Climate AcAon and Urban Finance

The joint 5th Urban Economy Forum (UEF5) and 59th ISOCARP World Planning Congress (WPC59) titled “ For Climate Action, Urban Finance - Climate-responsive Planning for Equitable Places & Communities”,   successfully concludes, with new partnerships formed, initiatives launched and bold ideas formulated for climate action and community oriented Urban Development. 

[Toronto, Canada - October 14, 2023] - The 5th Urban Economy Forum (UEF5) and the 59th ISOCARP World Planning Congress (WPC59) that took place from October 10th to 13th in Toronto, Canada concluded with the announcement of the Glocal Platform on Urban Finance and the Global Solutions Nexus. The Glocal Platform for Urban Finance aims to facilitate the access of existing financial mechanisms, connecting investors and institutions to boost financial capabilities to the needs of the cities and their priorities, particularly with regards to the climate agenda. The Global Solutions Nexus as a network will establish a connection between local actions and international finance resources for impactful sustainable urban transformations that have the potential to solve local problems, maximise opportunities, and advance the comparative advantages of cities and regions. 

After three days of debates and discussions during 70 sessions, more than 400 delegates, from 100 countries, and a series of high-level and keynote sessions featuring speakers from a diverse array of stakeholders, including global planners, policymakers, city leaders, academia, and community leaders collaborated to address crucial urban challenges and foster collaborative solutions. 

The UEF5+WPC59 joint event revolved around four pivotal themes, each addressing key urban issues:

Track 1: Acknowledge Community Values, Track 2: Decide Jointly: Track 3: Invest Wisely, Track 4: Interact with Technology 

The Canadian Prime Minister Justin Trudeau's and Maimunah Mohd Sharif’s (Executive Director of UN-Habitat) messages set the tone for the event. The occasion also included a Land Acknowledgement and a welcoming Indigenous Ceremony. 

The opening session’s speakers were the Honourable Elizabeth Dowdeswell - Lieutenant Governor of Ontario), Mitchell Cohen - President and CEO of Daniels Corporation, who led the Regent Park revitalization, House of Commons MP Matthew Green - Co-Chair of the conference, Reza Pourvaziry - Chair of UEF, Pietro Elisei - President of ISOCARP, and Elisabeth Belpaire - Board Member and Congress Director of ISOCARP.. 

Among the keynote speakers were: Hon. Edmund Bartlett - Minister of Tourism (Jamaica), Yusuf Amdani - Chairman of GK Global (Honduras), Berry Vrbanovic - Mayor Of Kitchener, and Co-president of UCLG (Canada), David Amborski - Director, Centre for Urban Research and Land Development, Professor, School of Urban and Regional Planning, Toronto Metropolitan University (Canada), Stephanie Burnham - Indigenous planner Cayuga Nation Wolf Clan, Dillon Consulting Ltd (Canada),  Kotchakorn Voraakhom - Global award winning landscape architect, Chair Climate Change WG IFLAWorld and CEO Porous City Network (Thailand), a social enterprise that looks to increase urban resilience in Southeast Asia and Laura Petrella -  Chief, Planning and Design, Finance and Economy UN-Habitat. 

The event featured high-level round tables, bringing together Mayors, global diplomats, and parliamentarians from North and Central America who engaged in insightful discussions on the role of lawmakers in sustainable urban development and finance for climate action. Representatives of financial institutions such as Meridian Credit Union and Vancity Group emphasised the need for sustainable investments in the urban sector. UN- Habitat’s officials provided examples of urban regeneration for Climate Action and on the methodology of ranking the achievement of SDGs in cities.

The  Congress also welcomed other distinguished guests Carlos Joaquin - Ambassador of Mexico to Canada, and Dr. Khalid bin Rashid Al-Mansouri - Ambassador Extraordinary and Plenipotentiary of the State of Qatar in Canada, who participated in the launch of "Global Solutions Nexus." Both emphasised the importance of strengthening the World Urban Pavilion, a joint initiative of UEF, the government of Canada, UN-Habitat and the Daniels Corporation. A declaration from the congress, Toronto Declaration was also presented at the event.

Notable recommendations from the joint congress were:

1. To prioritise integrated approaches to be competitive and sustainable and to create the adequate capacities to get access to climate finance mechanisms to adopt long-term solutions for adaptability, mitigation, and equity.
2. To create conditions to leverage innovative financing mechanisms to fund climate action projects, such as Green Bonds, public-private financial mechanisms, and carbon pricing schemes that will provide the necessary capital for investments in sustainable solutions.
3. To invest in technology, data science, artificial intelligence, and digital platforms / solutions which intentionally advance carbon neutrality, sustainability, equity, and resiliency for cities and communities, ensuring success for future generations. 
4. To adopt integrated, green urban planning strategies that promote sustainable and ecological responses that address health, inequalities and the climate agenda in specific districts and neighbourhoods.
5. To power cities predominantly by renewable energy sources, adopting sustainable transportation options and a circular economy.
6. To use indigenous knowledge, resources and practices, taking into account holistic dimensions of health, wellbeing of people and the planet at individual, physical, mental, social and spiritual levels, to guarantee sustainability.

During the closing session, the organisers announced that the 6th Urban Economy Forum will be held in October 2024 and will focus on Financing Sustainable Tourism and Advancing the Quality of Life. UCLG Co-President and Mayor of Kitchener Berry Vrbanovic was introduced as one of the Conference Steering Committee Co-Chairs. ISOCARP announced Sienna (Italy) and Luzon (Philippines) as potential hosts for ISOCARP 60.

For media inquiries and additional information, please contact: fazileh.dadvar@ueforum.org