Several SLoCaT members have contributed to the Position Paper on Financing Sustainable Transport by the UN Secretary-General’s High-Level Advisory Group on Sustainable Transport (HLAGST). The Position Paper welcomes a number of outcomes of the Third International Conference on Financing for Developement, which takes place from July 13th tp 16th in Addis Ababa, Ethiopia.
The paper emphasizes that transport plays an essential role in countries´ economic growth, competitiveness, balanced and livable spatial development, access to water and energy, and food security; it is also critical for social inclusion and improved quality of life. Ensuring adequate and better targeted funding and innovative financing for sustainable transport will be critical to deliver on this potential.
It also points out that while global transport investments are estimated at $1-$2 trillion per year, less than 40 percent is invested in developing countries—the countries where both connectivity needs and opportunities to avoid locking into an unsustainable development path are the greatest. Public sector action can also be critical in promoting sustainable public transport, leading by example and creating incentives for private investment.
The HLAG concludes by reiterating the importance of climate finance in financing sustainable transport and the needs to ensure rapid action on road safety in order to promoting safe and sustainable mobility to enhance inclusive economic growth, spatial and social development, climate change priorities and the protection of the global environment.
For a full version of the Position Paper, please go to here.
