The road to zero carbon transport

The road to achieving zero-carbon transport is paved with challenges, but with innovative solutions and a concerted effort from global stakeholders, it's a feat that can be accomplished. CNBC Africa's Eugene Anangwe recently spoke to Guangzhe Chen, Vice President for Infrastructure at the World Bank, shedding light on the institution's work in this crucial area. Chen highlighted the World Bank's commitment to addressing climate risks and aligning with the goals of the Paris Agreement to ensure sustainable and environmentally friendly transport solutions. With a focus on carbon-smart investments, the World Bank is playing a pivotal role in transforming the transport sector and supporting the transition to clean energy. Let's delve deeper into the key points discussed in the conversation. Key Points: 1. Climate Action Plan: The World Bank has been at the forefront of climate action for over two decades, with a dedicated climate change action plan in place. The institution is committed to Paris alignment, integrating mitigation and adaptation measures into its projects. Chen emphasized that between 40 to 50% of the World Bank's investments have environmental benefits, with a significant portion directed towards carbon-smart initiatives in the transport sector. 2. Support for Energy Transition: In addition to focusing on transforming the transport system, the World Bank recognizes the importance of supporting the energy transition. Chen highlighted the need for a green grid to complement the transport sector's sustainability goals. Urban planning is also a key area of focus, with an emphasis on efficiency and integration to accommodate population growth and urbanization, particularly in regions like Africa. 3. Stakeholder Engagement and Policy Support: The World Bank's approach involves collaboration with various stakeholders, including policymakers, regulators, researchers, and industry players. By convening these stakeholders and sharing best practices, the institution aims to foster a comprehensive approach to sustainable transport. Chen emphasized the importance of robust policies and regulations, stressing that investments alone are not enough without a supportive regulatory framework. Quote: Guangzhe Chen highlighted the significance of policy and regulatory frameworks in enabling the transition to zero-carbon transport, stating, 'There's no amount of investment that will be sufficient if you don't have proper policy and regulation in place.' This underscores the need for a holistic approach that combines financial support, stakeholder engagement, and effective policy development to drive sustainable transport solutions. In conclusion, the World Bank's initiatives in the transport sector are geared towards creating a cleaner, greener future for all. By leveraging its expertise, financial resources, and global partnerships, the institution is paving the way for a zero-carbon transport system that is not only sustainable but also conducive to economic growth and social development. With a shared commitment to combatting climate change and advancing sustainable development, the road to a zero-carbon transport future is within reach.