Eight multilateral development banks (MDBs) today issued a joint statement committing to accelerate their efforts to mitigate transport emissions and recognising the need for more action on the resilience of transport to climate change. The sector accounts for about 60% of global oil consumption, 27% of all energy use, and 23% of world energy-related CO2 emissions.
In their statement, the African Development Bank, Asian Development Bank (ADB), CAF-Development Bank of Latin America, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank (ISDB), and the World Bank (WB) pledged to speed up action on:
- MDBs have recently committed to substantially increase financing for climate change mitigation and adaptation over the next few years. Transport is expected to play a key role in that commitment.
- The MDBs will increase their focus on low-carbon transport solutions and will continue to harmonise tools and metrics to assess transport-related greenhouse gas (GHG) emissions.
- Adaptation: The MDBs will jointly develop a systematic approach to mainstream climate resilience in transport policies, plans and investments.
“We, the multilateral development banks, believe that climate change is a defining challenge of our time. Actions to reduce greenhouse gas emissions and stabilise warming at two degrees Celsius will fall short if they do not include the transport sector. We commit to support countries in the implementation of sustainable transport solutions by providing critically needed financial and technical support to assist them in responding to rising aspirations for greater mobility and connectivity, in a sustainable and resilient way,” said Luis Alberto Moreno, President of the Inter-American Development Bank.
Moreno presented the statement on behalf of the eight MDBs during the Transport segment of the Lima Paris Action Agenda. Among the Intended Nationally Determined Contributions submitted as of November 12, 2015, about three quarters explicitly identify the transport sector as a mitigation source, and more than two thirds propose transport sector-specific mitigation measures. In 2012, the MDBs pledged US$175 billion by 2022 in financial resources for more sustainable transport.
“Asia’s burgeoning cities and remote communities alike need low-carbon, climate-resilient transport systems to thrive. ADB will prioritise bus and metro systems in cities, pedestrian and cycle pathways, and long distance railways to reduce emissions and congestion while providing safe and efficient transport in Asia,” said Bambang Susantono, ADB Vice-President for Knowledge Management and Sustainable Development.
"Supporting our member countries to develop efficient transport systems that are climate smart and resilient is a major goal for us. We will work together with other MDBs to ensure that we come up with innovative solutions that will help reduce carbon emissions,” said Dr Ahmad Mohamed Ali, President of IsDB.
"Transport must be a significant piece of the climate solution. We have the opportunity to transform transportation services so they are low-carbon and resilient to climate impacts. Now is the time to turn our commitments into action and we stand ready to work with countries as they develop low carbon and climate-resilient transport activities,” said Laura Tuck, World Bank Vice President for Sustainable Development.
In their statement, the African Development Bank, Asian Development Bank (ADB), CAF-Development Bank of Latin America, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank (ISDB), and the World Bank (WB) pledged to speed up action on:
- MDBs have recently committed to substantially increase financing for climate change mitigation and adaptation over the next few years. Transport is expected to play a key role in that commitment.
- The MDBs will increase their focus on low-carbon transport solutions and will continue to harmonise tools and metrics to assess transport-related greenhouse gas (GHG) emissions.
- Adaptation: The MDBs will jointly develop a systematic approach to mainstream climate resilience in transport policies, plans and investments.
“We, the multilateral development banks, believe that climate change is a defining challenge of our time. Actions to reduce greenhouse gas emissions and stabilise warming at two degrees Celsius will fall short if they do not include the transport sector. We commit to support countries in the implementation of sustainable transport solutions by providing critically needed financial and technical support to assist them in responding to rising aspirations for greater mobility and connectivity, in a sustainable and resilient way,” said Luis Alberto Moreno, President of the Inter-American Development Bank.
Moreno presented the statement on behalf of the eight MDBs during the Transport segment of the Lima Paris Action Agenda. Among the Intended Nationally Determined Contributions submitted as of November 12, 2015, about three quarters explicitly identify the transport sector as a mitigation source, and more than two thirds propose transport sector-specific mitigation measures. In 2012, the MDBs pledged US$175 billion by 2022 in financial resources for more sustainable transport.
“Asia’s burgeoning cities and remote communities alike need low-carbon, climate-resilient transport systems to thrive. ADB will prioritise bus and metro systems in cities, pedestrian and cycle pathways, and long distance railways to reduce emissions and congestion while providing safe and efficient transport in Asia,” said Bambang Susantono, ADB Vice-President for Knowledge Management and Sustainable Development.
"Supporting our member countries to develop efficient transport systems that are climate smart and resilient is a major goal for us. We will work together with other MDBs to ensure that we come up with innovative solutions that will help reduce carbon emissions,” said Dr Ahmad Mohamed Ali, President of IsDB.
"Transport must be a significant piece of the climate solution. We have the opportunity to transform transportation services so they are low-carbon and resilient to climate impacts. Now is the time to turn our commitments into action and we stand ready to work with countries as they develop low carbon and climate-resilient transport activities,” said Laura Tuck, World Bank Vice President for Sustainable Development.
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