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transit-oriented development

Climate finance: why is transport getting the short end of the stick?

Shomik Mehndiratta's picture
Going nowhere fast... Photo: Simon Matzinger/Flickr
Climate change is a global challenge that threatens the prosperity and wellbeing of future generations. Transport plays a significant role in that phenomenon. In 2013, the sector accounted for 23% of energy-related carbon emissions… that amounts to some 7.3 GT of CO2, 3 GT of which originate from developing countries. Without any action, transport emissions from the developing world will almost triple to reach just under 9 GT of CO2 by 2050.

In previous posts, we’ve explored the policies that would maximize a reduction of transport emissions. But how do you mobilize the huge financial resources that are required to implement these policies?  So far, transport has only been able to access only 4.5% of Clean Development Mechanisms (CDM) and 12% of Clean Technology Funds (CTF). Clearly, the current structure of climate finance does not work for transport, and three particular concerns need to be addressed.

Transit-oriented development — What does it take to get it right?

Chyi-Yun Huang's picture
Follow the authors on Twitter: @chyiyunhuang and @shomik_raj
 
A recent trip to Addis Ababa really brought the imperatives of transit-oriented development as a complement to mass transit investments home to us. As a strategic response to rapid urbanization and growing motorization rates, Addis is one of several African cities currently developing public mass transit systems such as light rail and bus-rapid transit. Similar initiatives are budding in Dar es Salaam, Nairobi, and other cities in South Africa.

It is well known that transit-oriented development, or ToD, is a high-value complement to mass transit development. Compact, mixed-use, high density development around key mass transit stations can have the dual benefits of creating a ridership base that enhances the economic and financial viability of the mass transit investment and compounding the accessibility benefits a mass transit system can bring to a city’s residents. This is not to mention the intrinsic value in creating vibrant social gathering places for communities at strategic locations.