4 December 2015
MDBs to Accelerate Efforts on Sustainable, Low-Carbon Transport
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On the sidelines of the Paris Climate Change Conference, the Multilateral Development Banks (MDBs) issued a joint statement that recognizes the contribution of transport to greenhouse gas (GHG) emissions and pledges to accelerate efforts to mitigate transport emissions.

In their statement, the African Development Bank (AfDB), Asian Development Bank (ADB), CAF-Development Bank of Latin America (CAF), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (ISDB), and the World Bank outline commitments to accelerate efforts on climate finance, low-carbon transport solutions and adaptation.

mdb3 December 2015: On the sidelines of the Paris Climate Change Conference, the Multilateral Development Banks (MDBs) issued a joint statement that recognizes the contribution of transport to greenhouse gas (GHG) emissions and pledges to accelerate efforts to mitigate transport emissions. In their statement, the African Development Bank (AfDB), Asian Development Bank (ADB), CAF-Development Bank of Latin America (CAF), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (ISDB), and the World Bank outline commitments to accelerate efforts on climate finance, low-carbon transport solutions and adaptation.

“Climate change is a defining challenge of our time,” observed Luis Alberto Moreno, IDB President, in a statement presented on behalf of the eight MDBs during the Lima Paris Action Agenda’s (LPAA) Transport Segment, which convened at the margins of the 21st session of the Conference of the Parties (COP 21) to the UNFCCC. In their statement, the MDBs recognize that “actions to reduce GHG emissions and stabilize warming at 2 degrees Celsius will fall short if they do not include the transport sector.” The MDBs express their intention to provide financial and technical support to assist countries in implementing sustainable transport solutions and enhancing mobility and connectivity in a sustainable and resilient way, noting the intention of Parties to the UNFCCC to enhance action on sustainable transport systems in their Intended Nationally Determined Contributions (INDCs). Approximately 75% of INDCs identify the transport sector as a mitigation source and over two-thirds of the INDCs propose transport sector specific mitigation measures, according to the World Bank.

The statement reports on the MDBs’ progress on their commitment at the UN Conference on Sustainable Development (UNCSD, or Rio+20) to invest in sustainable transport in developing countries, explaining that they have committed US$65 billion to date. Going forward, the MDBs will integrate climate change considerations into transport planning, design and investment and expect to participate in developing indicators to track progress on the transport-relevant Sustainable Development Goals (SDGs).

The MDBs’ further aim to, inter alia: increase transparency of and track climate finance flows; accelerate efforts to shift policies and investments towards low-carbon transport solutions through vehicle efficiency improvement and public transport system design; and use GHG accounting principles in transport. On adaptation, the MDBs commit to building awareness on protecting transport systems, mainstreaming climate resilience in transport policies, plans and investments, and screening potential climate risks in project pipelines.

Bank representatives emphasized investments in sustainable transport as part of larger efforts to ensure low-carbon and climate-resilient urbanization. Solomon Asamoah, AfDB, said the AfDB “will put greater emphasis on improving urban transport and mobility through innovative public transportation systems and efficient traffic management systems.” Bambang Susantono, ADB, said “ADB will prioritize 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.” Jonathan Taylor, EIB, said the EIB will support sustainable transport schemes to “transform national mobility and cut congestion in growing cities.”

Representatives of the other MDBs also stressed transport as critical in their efforts to tackle climate change, highlighting the importance of developing low-carbon transport systems that are climate-smart and resilient to climate impacts. [Joint Statement] [World Bank Press Release] [ADB Press Release] [AfDB Press Release] [EBRD Press Release] [EIB Press Release] [ISDB Press Release]


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