More Climate Finance for Sustainable Transport

Actions to reduce greenhouse gas (GHG)
emissions to stabilize warming at 2 degree Celsius, as
agreed by the international community in 2009, will fall
short if they do not include the transport sector. Transport
is responsible for around 23 percent of global carbon
dioxide emissions and emissions are expected to rise without
further action to curb emission growth and invest in low
carbon transport modes. Investment needs are estimated at
around $3 trillion to increase the sustainability of
existing and new transport systems and to mitigate climate
change over the 2015-35 periods. This is in addition to
existing annual investments estimated at $1-2 trillion. The
actions taken today to send the right policy signals, and
establish the enabling institutions and regulations to
attract the necessary private finance will be critical to
support this transformation. Significant investment
opportunities exist in public transport systems, vehicle
efficiency improvement, and reducing the need for travel
through demand management, regional development policies,
and land use planning. As the international community
embarks on the road towards CoP 21 in Paris, there is a case
to be made for more climate finance flowing towards transport.