Actions to reduce greenhouse gas (GHG)emissions to stabilize warming at 2 degree Celsius, asagreed by the international community in 2009, will fallshort if they do not include the transport sector. Transportis responsible for around 23 percent of global carbondioxide emissions and emissions are expected to rise withoutfurther action to curb emission growth and invest in lowcarbon transport modes. Investment needs are estimated ataround $3 trillion to increase the sustainability ofexisting and new transport systems and to mitigate climatechange over the 2015-35 periods. This is in addition toexisting annual investments estimated at $1-2 trillion. Theactions taken today to send the right policy signals, andestablish the enabling institutions and regulations toattract the necessary private finance will be critical tosupport this transformation. Significant investmentopportunities exist in public transport systems, vehicleefficiency improvement, and reducing the need for travelthrough demand management, regional development policies,and land use planning. As the international communityembarks on the road towards CoP 21 in Paris, there is a caseto be made for more climate finance flowing towards transport.
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