City budgets are tight. Whether it’s the strain of post-pandemic regeneration or the global impact of the war in Ukraine, many economies are at the breaking point. City decision-makers may have the ambition to develop and improve their infrastructure, but without funding it’s simply not viable.
Luckily, governments are starting to take action. Slowly but surely, funding programs are being established that promise to support infrastructure projects and help cities achieve the goal of becoming sustainable while at the same time improving the health and well-being of citizens.
Take the EU Green Deal, which pledges to make trillions of Euros available for cities looking to enhance the energy efficiency of their public buildings, improve mobility, or create jobs for future generations. In the US, the 2022 Inflation Reduction Act (IRA) represents the single largest investment in climate and energy in American history, enabling America “to tackle the climate crisis and advance environmental justice.” The ASEAN Infrastructure Fund has been launched in Asia.
All of this means that as cities start to consider how they can modernize their infrastructure and explore IoT solutions to help in the fight against climate change, funding is one less barrier to overcome.