Nature Positive Cities Efforts to Advance the Tranistion Barranquilla 2025

2 Assessment of the enabling environment2.4 Financing Overview The municipal public budget is the main source of funding for natural conservation and climate change adaptation projects in Barranquilla. The District Development Plan of Barranquilla 2024–2027, under its strategic line “Environmental and Sustainable City”, allocates resources of COP 1.6 trillion (Colombian pesos) (approximately $390 million) to environmental management programmes and projects. This includes green infrastructure, waste management, habitat restoration and systems for managing and channelling large volumes of rainwater. This allocation represents 8% of the total investment resources in the plan, showing a steady increase in spending related to climate and nature projects and a firm commitment to the city’s environmental sustainability. Other major funding sources for nature- positive action are available – however, the city is highly dependent on local budgets to ensure the delivery of nature-positive action within Barranquilla. –National public budgets: The national government provides funds for conservation and sustainability projects. For example, the national government allocated COP 105 billion through the National Planning Directorate as part of the Territorial Pacts programme, developed by En Territorio, for the construction of the Ecoparque Mallorquín. Also, the Mayor of Barranquilla allocated revenues from royalties to finance the implementation of the Siembra Barranquilla project and promote sustainable urban development and environmental care. –International funds and multilateral organizations: Grants and loans come from entities such as the Inter-American Development Bank (IDB), the French Development Agency (AFD) and the Spanish Agency for International Development Cooperation (AECID). –Private sector and corporate social responsibility (CSR): Local and foreign companies contribute to sustainable projects as part of CSR policies. –Philanthropy, grants and donations: Funding received from philanthropic sources for community initiatives and environmental restoration projects. –Revenue-generating instruments: Revenue is collected from taxes, fees and land sales, which are used to cover conservation costs. The Ecoparque Mallorquín was financed through the sale of development rights and compensation funds. Currently, the district has not issued novel instruments or sustainable financial instruments, such as green bonds and environmental or social impact bonds. However, the city structured a sustainable project framework that received a strong rating from Moody’s environmental, social and governance (ESG) report. Image credit: Barranquilla City Hall Nature Positive: Cities’ Efforts to Advance the Transition – Barranquilla 26