How Cities can Create and Deliver Infrastructure Value
Cities need to manage complex changes to stay ahead, says Pedro Miranda, Senior Vice President, Siemens AG, Head of Siemens One and the Global Center of Competence Cities.
C
ities are evolving faster than at any point in their history. Some are experiencing unprecedented rates of
urbanisation and population growth, whilst others are experiencing a shrinking population. Many of the challenges, however, are omnipresent: people are living longer; the climate is changing; and cities are experiencing significant environmental impacts such as increasing levels of air pollution. Regardless of how a city is affected by these changes, one factor remains constant – the need to provide critical urban infrastructure and deliver quality municipal services at efficient cost. Cities are strongly motivated by a need to drive economic growth and create jobs for their citizens. This is resulting in the global emergence of ‘city competitiveness’, with regions competing to attract financial investment and human capital and deliver services efficiently. To achieve this, cities first need to understand the fundamental concept of sustainable development in order to provide confidence to investors, so that their challenges are understood and can be properly managed.
As technology drives mobility and connectivity in urbanised societies, mature cities are experiencing the need to upgrade ageing infrastructure, and high growth cities are seeking to establish
new infrastructure and smart city systems that will position them as the next generation metropolises. Yet whatever a city’s status, nearly all have limited access to funds and ways of financing their plans. Some cities even lack the most basic legal and institutional frameworks to facilitate access to finance from the capital markets.
So what is the best way to
make cities attractive to investors? How can cities enable the financing and delivery of the critical urban infrastructure needed to cope with their challenges and even become world class?
The role of the city Increasingly, cities and
municipalities are the tier of government being tasked with providing essential services to their populations, and for formulating the means of funding them. Cities need to manage complex challenges, stay ahead of emerging trends and deliver a holistic approach to urban management: this is the new ‘urban dynamic’. The success of the city in meeting these criteria is often defined through their ability to attract and retain internationally mobile capital.
Vision and leadership Delivering urban infrastructure
swiftly and economically requires a clear, well formulated vision of city growth and economic prosperity, underpinned by a set of well-defined strategic objectives and initiatives. This vision must be owned by key stakeholders – politicians, businesses and residents. Cities need to show strong leadership in developing and selling their city vision. The most successful cities recognise that they operate in a globally connected marketplace, competing with, and yet also depending on, other cities. These changing times also mean that city authorities can no longer plan just for what is known today. They also need to plan to meet the needs of future generations.
Working with the private sector Whilst cities have to work harder
A Siemens Combino tram in Yarra, Melbourne Australia
150 GLOBAL OPPORTUNITY 2014 | ISSUE 01
global-opportunity.co.uk
URBAN DEVELOPMENT
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SIEMENS
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