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The essence of finance has become essential in the sustainability discussion in recent times as a result of the capital intensive nature of sustainable projects. This has motivated financial experts and institutions to develop various financial instruments and mechanisms to further advance the course of protecting the environment, and decreasing the release of excess carbon and GreenHouse Gases. This is to also provide the opportunity for funding Green or sustainable infrastructure development. This chapter advances a discourse on matters relating to sustainable financing of infrastructure projects. The fundamentals of sustainable or green funding of infrastructure projects, and sustainable schemes of financing green infrastructure projects are discussed.

India launched Smart City Mission in 2015 with an objective of development of 100 smart cities with a completion deadline in 2019 that was extended till June 2023. Smart City Mission is an important mission in the backdrop that urban population in India is projected to be 67.55 crore in 2035 from 48.30 crore in 2020. Further, by 2035, the percentage of population in India at mid-year residing in ‘urban area’ will be 43.2% as per the United Nations – Habitat's World Cities Report 2022 and it will be just next to China's urban population in 2035 that is projected at 1.05 billion. A recent World Bank report (2022) estimated that India will need to invest US (United States) $840 billion over the next 15 years, i.e. US $55 billion per annum – into urban infrastructure if it has to effectively meet the needs of its fast-growing urban population.

This chapter focuses on financing of sustainable smart cities in India. This chapter summarises financing options explored by the government in the beginning, challenges faced in financing of Smart City Mission in India over a period due to various developments such as pandemic, delay in execution of projects under the Smart City Mission, among others. Finally, suggestions have been given for making financing means effective and sustainable. These suggestions are based on the gaps between the ‘financing means thought of’ in the beginning and ‘financing means actually applied’ while executing Smart City Mission in India. Financing part is worth exploring in the background that India had the fiscal deficit at 3.9% of Gross Domestic Product (GDP) in 2015–2016 and most recently, the country had the fiscal deficit at 6.71% of GDP in FY22. And the country also dealt with the pandemic like other economies and provided COVID-19 vaccine free of cost to all citizens. Insights are useful for any other economy with a similar sustainable and smart city mission while facing resource constraints.

Chapter 17 discusses challenges for financing nature-based solutions (NBS). Financing NBS is a key challenge to ensure scaling of the use of NBS in urban areas. This is mainly due to the difficulty to monetize the value generated through the provisioning of ecosystem services, as well as the multiple cobenefits that NBS provide. Certain types of NBS, such as green roofs, have been able to allow for private value capture, enabling such projects to attract private or blended capital. Others, where benefits are generally regarded as public good, have to rely on different financing strategies and instruments. The section provides an overview of financing solutions (public, private, and blended instruments) for different types of NBS and their applicability to NBS in the urban context.

This chapter analyzes the role of new local planning frameworks in the development of urban megaprojects (UMPs). It argues that the way projects are integrated with existing planning controls and statutory procedures influences how its costs and benefits are distributed. Drawing on the case studies of the Special Hudson Yards District in New York City, the “Zone d’Amenagement Concerte Clichy-Batignolles” in Paris and the Operacao Urbana Agua Branca in Sao Paulo, it compares how the legislative reforms and strategic plans enacted in each city impacted development programs, implementation process, and public benefits delivered by each project. This is a comparative case study analysis using quantitative and qualitative data collected through planning documents, press articles, interviews, and field research on the planning process of the three case studies, their administrative and institutional frameworks focused combined with quantitative analysis of the development proposals and outcomes of each project. The research shows how the articulation between the new plans and the underlying zoning districts as well as willingness by the city to commit public funds to finance the required upfront investments influence the ability of cities to extract public benefits from urban megaprojects and improve integration with surrounding neighborhoods, transport infrastructure, and regional policy. Based on a succinct review of the related literature the chapter illustrates the evolving role of public agencies and land-use regulation in the development of UMPs, illustrates the material expression of strategic planning on legislative reform and policy statements, provides a comparative analysis of contrasting legal systems, and suggests policy formulations that can improve the “public return” generated by UMPs.

This chapter identifies and analyzes three systemic obstacles to American public policy addressing natural disasters: symbolic obstacles, cognitive obstacles, and structural obstacles. The way we talk about natural disaster, the way we think about the risks of building in hazardous places, and structural aspects of American political institutions all favor development over restraint. These forces have such strength that in the wake of most disasters society automatically and thoughtlessly responds by rebuilding what was damaged or destroyed, even if reconstruction perpetuates disaster vulnerability. Only by addressing each of the obstacles identified are reform efforts likely to succeed.

The neighborhoods north and northwest of downtown St Louis are blighted by their abundance of substandard, abandoned, and demolished housing. Crime, poverty, and unemployment are high while family stability, educational achievement, and health outcomes are low. These conditions are not unique to St Louis, but can be found in neighborhoods in every city in America. How did this happen? What factors led to the demise of these neighborhoods? This chapter examines the history of St Louis along with theories of neighborhood succession to identify possible explanations for the city's collapse.