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Publication(World Bank, Washington, DC, 2015-12) Ebinger, Jane ; Peltier, Nicolas ; Gitay, Habiba ; Monsalve, Carolina ; Losos, Andrew ; Rogers, John Allen ; Vandycke, NancyThe case for climate action has never been stronger. Around the world, climate change is putting at risk the lives of millions of people as well as threatening many coastal cities and endangering trillion of dollars of investments in transport infrastructure and services. The Twenty-First Conference of the Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) will bring heads of state and ministers to Paris at the end of November to reach a global climate agreement with far-reaching implications for low-carbon and climate-resilient growth. Transport is playing a greater role in COP21 than in past UNFCCC conferences as a critical part of the solution: a sector that can contribute to both reducing greenhouse gas (GHG) emissions and building economy wide resilience to the impacts of climate change. In view of the sector’s potential, the heavily debated transport question is how to sustainably meet the rising global demand for greater interconnectedness and mobility. The World Bank and the seven other leading multilateral development banks have joined forces with the Paris Process for Mobility and Climate (PPMC) and the rest of the transport community to call for more action on transport and climate change.
Publication( 2015-05) Ebinger, Jane O. ; Vandycke, Nancy ; Rogers, John AllenActions 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.