How carbon markets can (and will) accelerate the decarbonization of the transportation sector

Climate change poses one of the greatest risks to the survival of the human species. A landmark report by the UN Intergovernmental Panel on Climate Change (IPCC) released in 2018 warned that there are only about a dozen years for global warming to be kept to a maximum of 1.5°C.

With growing concerns about the pressing environmental problems caused by the transportation sector, reducing the adverse environmental impact of urban mobility is emerging as a great challenge. It is important to enabling consumers to identify the environmental impact associated with their transport choices and let them make informed decisions about how to make their commutes more sustainable.

The transportation industry is undergoing a profound transformation, driven by a need to reduce its carbon footprint. Worldwide, 16.2% of global emissions come from transportation, an increase of 70% over 1990’s levels. In cities, transportation represents 40% of total emissions, far outpacing any other source.

A first-hand experience with carbon offsets in the public transit

Before joining UITP, as part of my role at Delhi Integrated Multi-Modal Transit System Limited (DIMTS), I experienced first-hand the challenges posed by the existing carbon programs and GHG quantification methodologies. At DIMTS, I worked to register the Delhi Bus Rapid Transit (BRT) project under UNFCC to generate carbon credits under the?CDM program . Unfortunately, the project did not qualify under that program. The Delhi government introduced new low-floor CNG buses on the corridor in place of standard-floor CNG buses, which resulted in higher per passenger emission. Finally, the project failed to certify under the CDM program.

UITP ?has led discussions to address climate change at multiple national and international forums, and partners with a multitude of key agencies including the United Nations, to promote the use of public transport in cities. In September 2019, UITP launched the new campaign?#ONEPLANet ?with its members, along with a Climate Action Manifesto which detailed a four-step action plan to reduce transport emissions in cities.

Many new and existing solutions help reduce the environmental impact of transportation, but based on the graphs above, more needs to be done.

However, one of the biggest challenges to achieve widespread deployment of new low-carbon technologies and solutions is their (usually) higher cost. But what if these new technologies could be financed not through public funds but other non-public funding mechanisms? It turns out, the energy sector figured it out more than 20 years ago.

Read the full article: How carbon markets can (and will) accelerate the decarbonization of the transportation sector

Co-author:?@david.oliver_92697