"Better City, Better Life" is the slogan that accompanies World Cities Day, established by the General Assembly of the United Nations in 2013. Since then, the day has been celebrated every year on 31 October to raise awareness in the international community of the sustainable development of urban areas and promote cooperation between countries.
Cities are set to become ever larger and more complex. According to the latest UN report, urban areas currently occupy only 2 per cent of the earth's surface. Despite this, they are home to 54 per cent of the world's population (a figure that will rise to over 60 per cent by 2050), cause 60 per cent of the planet's polluting emissions and consume 78 per cent of the energy produced globally.
Therefore, immediate action is needed to deliver Goal 11 of the 2030 Agenda for Sustainable Development: make cities inclusive, safe and resilient.
CDP's commitment to urban regeneration
One of the most ambitious urban regeneration projects involves Florence’s former tobacco factory, which covers an area of over 110,000 square metres. The development will see buildings with historical and architectural value restored and some new buildings constructed. The complex, which had been abandoned for years, has been transformed into a sustainable meeting hub with the redevelopment of four buildings for office and commercial use; it also houses the new headquarters of the Polimoda fashion school. Work is also underway to create new spaces, including for housing (some of which will be social housing), student residences, offices (for co-working also) and a tourist accommodation facility.
Another initiative concerns the redevelopment of the former “MOI” Olympic Village in Turin via the provision of social housing. The squatters who had occupied the site were given support to help live independently and find employment. Once the area was cleared, it was completely renovated. Over 400 beds were created in the site’s seven buildings for temporary housing at subsidised rates for students, young workers and city users.
CDP is also supporting local authorities in building more sustainable infrastructure and more energy-efficient public buildings. An example of this is the loan of almost €200 million granted to City Green Light for projects focusing on innovation and sustainability. The funding is needed to finance integrated energy efficiency solutions in key areas such as public lighting and the management of municipal buildings, with the installation of technologies to reduce environmental impact.
For more on this subject, listen to the “Le città del domani” (The Cities of Tomorrow) episode of DINAMICHE – The Cassa Depositi e Prestiti and Chora Media podcast.