Supervia is one example of the World Bank’s transport operational focus: supporting sustainable solutions – universal, efficient, safe, and environmentally friendly – to connect people and businesses to jobs, social services, and markets. In fiscal year 2015 alone, we have invested $5.3 billion in sustainable transport in 34 countries, contributing to the Rio+ pledge of $175 billion in sustainable transport funding from multilateral development banks over 2012-2022.
As we head towards COP21, one may wonder: “How many Supervias will it take to reach a 2 degree scenario? And where will the financing come from?”
Transport accounts for about 60% of global oil consumption, 27% of all energy use, and 23% of world CO2 emissions. With demand for mobility increasing exponentially, especially in developing countries, transport is the fastest growing source of GHG emissions. Inevitably, actions to reduce GHG emissions and stabilize climate warming at 2 degree Celsius, as agreed by the international community in 2009, will fall short if they do not include aggressive measures in the transport sector.
Yet, transport has until now taken a back seat in the climate negotiations. Transport has not been at the heart of the negotiations, the share of transport in climate finance has been very small, and donor support to and interest in transport has been minimal.