58THE EUROPEAN HORIZON PROJECT Located in Gran Canaria, this project exemplifies how policy and fiscal innovation can drive regenerative development. This initiative is pioneering a localized tax system to directly fund nature-based solutions, ensuring long-term investment in ecosystem restoration and com- munity resilience. By embedding regenerative goals into municipal tax structures, the project establishes a finan- cial mechanism that rewards environmental stewardship while securing sustained funding for green infrastructure. Key components of the initiative include: ▪Tax incentives for regenerative practices: Businesses and property owners receive tax breaks for invest - ments in green infrastructure, such as urban wetlands and biodiversity corridors. ▪Performance-based financing: Projects demonstrat - ing measurable ecological and social benefits, such as carbon sequestration or enhanced public health outcomes, qualify for financial support. ▪Integration into urban planning: Regenerative design principles are embedded into zoning laws, requiring new developments to incorporate NbS elements that enhance biodiversity and climate resilience. By aligning fiscal policies with regenerative development principles, Gran Canaria’s approach de-risks investment in green solutions, boosts community participation and ensures that ecological restoration becomes an integral part of urban development. This model demonstrates how municipalities can harness tax mechanisms to finance long-term environmental and social well-being, setting a precedent for other regions seeking to integrate regenerative solutions into their urban policies.APPROACH 2 Cultivate public-private collaboration and cross-sector partnerships Regenerative urban development requires strong collab- oration between the public and private sectors, across cities and regions, and with non-governmental organiza - tions (NGOs) and civil society. This facilitates resource sharing and knowledge exchange, helping scale exper - tise – especially in the public sector – to prevent capacity delays and accelerate the systemic shift to regenerative solutions. This could include: 1. Establishing multistakeholder coalitions or local champions as a “broker” to align public policies, pri- vate investments and community initiatives, and drive scalable nature-based solutions 2. Facilitating city-to-city and regional knowledge exchanges to share best practices, develop stand- ardized frameworks and accelerate implementation Through early and active engagement with local com- munities in the co-design and governance of regen- erative projects, it’s possible to maximize buy-in and impact, and ensure social inclusivity. Strengthening public-private and cross-sector collaboration enables more efficient resource allocation, policy alignment and long-term investment in regenerative solutions, thereby creating thriving, resilient and ecologically restorative urban environments. GREEN CORRIDORS INITIATIVE IN MEDELLIN In Medellín, Colombia, the Green Corridors Initiative demonstrates how public-private collaboration can drive regenerative development. The project convened private investors, NGOs and local communities to create 30 green corridors across 18 main roads and 12 water - ways. These corridors have expanded the city’s green spaces by over 70 hectares and facilitated the planting of approximately 880,000 trees and 2.5 million smaller plants. Acting as a broker, the city aligned public pol- icies, private investment and community initiatives to deliver scalable, nature-based solutions that have reduced urban temperatures by up to 2°C and improved air quality. Early engagement ensured that designs reflected local priorities and that training programmes empowered residents to maintain the spaces. Medellín has since shared its model with other Latin American cities, catalysing regional knowledge exchange to accel- erate climate resilience and regenerative practices.1159 C40 Knowledge Hub

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