We need a new climate finance model for the transport sector in the Global South. Current investment levels are less than 3% of what is needed, and the current policy focus on de-risking private investment through ‘blended’ finance is not delivering. In light of the negotiations underway for a new global finance agreement, we need a specific approach for sustainable transport that includes integrated national master plans, national climate finance platforms, and respect for just transition principles that includes genuine consultation with transport workers.
This document has two parts. Part one analyses the landscape of climate finance for transport in the Global South. Part two outlines ITF proposals for a new model for financing sustainable transport.
