Transport can guarantee long-term economic and environmental benefits if policymakers and the private sector address sustainability issues through investment, new research has said.
According to the Organisation for Economic Co-operation and Development (OECD), the transport sector, which is responsible for 23% of global carbon dioxide (CO2) emissions, is an important driver of economic growth.
It says the industry can generate long-term financial returns, but that investment needs to look at sustainability and its environmental impact to drastically cut CO2 emissions.
To do this, it is essential that the private sector cuts back on investment in carbon-intensive transport infrastructure and looks at more sustainable alternatives to meet climate targets, according to the OECD’s report, Mobilising Private Investment in Sustainable Transport: The Case of Land-Based Passenger Transport Infrastructure.
Angel Gurría, OECD secretary-general, said during the unveiling of the study in Germany, “It is urgent that investment in transportation moves towards building right, not just building more.
“The private sector has a key role to play in this shift, which will help governments to meet the pressing economic, social and environmental challenges they will face over coming decades.”
Gurrìa added, “Governments on their part must play a central role in mobilising private sector investment for sustainable transport infrastructure.”
The OECD suggested that governments might have to adopt a Green Investment Policy Framework in order to mobilise investment in sustainable transport systems such as metros, passenger rail, bus rapid transit or electric vehicle charging stations.
In April, the UN secretary-general Ban Ki-Moon played up the “crucial” role that sustainable transport plays in making cities more liveable and in tackling climate change.
Like our Facebook Page
7 Benefits of Purchasing Sustainable Housing
Our Top Five Sustainable Home Renovations For 2023
6 Ways Eco-Friendly Photographers Can Take Beautiful Natural Pictures
Emerging Research In Seagrass Restoration: What Does The Future Hold?
Sustainable Bites: How To Make Your Diet Eco-Friendly
Coffee Farms & Cloud Forests: Colombia’s New Eco Initiatives
Electric Cars: Are They Worth The Switch?
Maximizing the Efficiency of Deliveries: Strategies for Sustainable Businesses
The Rise of Sustainable Cloud Computing
Navigating Towards A Greener Future: Sustainable Practices In Maritime
The Future of Sustainability In The Logistics Industry
Can Eco-Friendly Businesses Embrace VPNs to Bolster Cybersecurity?
Eight Different Eco-Friendly Developments in the Food Industry
UK Lags EU in Installing Heat Pumps to Slow Climate Change
5 Key Areas to Look at When It Comes to Business Sustainability
Addressing Leadership Challenges in Green Entrepreneurship
Holding Eco-Friendly Coins is Greener and More Profitable
5 Reasons That Diamonds Can Be Excellent Green Investments
Eco-Friendly Airlines Use Weather Models to Make Safer Flights
Why Should We Invest in Eco-Friendly Homes?
- Features3 months ago
What is the Eco-Friendliest Option to Wash Your Dishes?
- Environment7 months ago
6 Home Improvements You Can Make to Help the Environment
- Environment11 months ago
How to Ensure Your Home’s Eco-Friendly During Construction?
- Business10 months ago
The Pulp & Paper Industry is Reaching its Sustainability Goals