The World Bank stated that cities should have a larger role in fighting global warming compared to governments that are struggling to reach a UN climate agreement. According to Andrew Steer, the World Bank's special envoy for climate change, the top 10 cities in the world emit more greenhouse gases than Japan. He suggested that reforms, such as changes to carbon markets, could help cities become more environmentally friendly. A World Bank report highlighted that urban areas, which house over half of the world's population and produce two-thirds of greenhouse gas emissions, could contribute to combating climate change by adopting greener transportation, clean energy, and improved waste recycling. Steer emphasized that cities are both the main cause and potential solution to climate change. The report stated that the world's largest 50 cities have significant economic influence, with a combined gross domestic product ranking second only to the United States and surpassing China. The report highlighted that cities like Tokyo and New York have economies larger than countries like Canada or Turkey. The UN climate talks, aiming to reach an agreement on measures to address global warming, face challenges due to the diverse opinions of the 194 countries involved. In 2008, over 1,000 US mayors committed to reducing greenhouse gases in line with the UN's Kyoto Protocol, despite the fact that the US government never ratified the accord. Many major cities around the world, like Tokyo, Shanghai, New York, and Buenos Aires, are located near bodies of water and therefore have a strong incentive to take action to reduce the risks of flooding and rising sea levels. The World Bank is in favor of restructuring the UN market mechanism that currently promotes investments in specific projects in developing countries, such as installing solar panels in Morocco or developing hydropower in Honduras, in order to allow for a more comprehensive, city-wide approach. This proposed reform of the UN's Clean Development Mechanism (CDM) would enable city mayors to secure funding for a range of initiatives, from flood defenses to eco-friendly transportation, without needing approval for each individual project. The CDM currently allows companies to invest in environmentally friendly projects in developing nations and receive credits for reducing emissions in their home countries. Steer also mentioned that city residents' opinions on the best places to live were changing. In the past, areas with high industrial pollution, like the east side of London, were inhabited by the poor. However, in the future, low-lying areas prone to river floods or rising sea levels will be the new homes for the less fortunate.