Moving Forward For People And Planet: Strengthening Finance For Safe And Sustainable Mobility To Deliver Sdg Priorities

Against a backdrop of rapid economic development in much of the G20 and across low- and middle-income countries (LMICs), there is a pressing need for sustainable, resilient, safe transportation. Globally $1.4-$2 trillion annually is invested in transportation, yet UN SDG analysis suggests much of this fails to meet sustainable development objectives. The environmental impact of transportation is critical, contributing to nearly a third of global greenhouse gas emissions. Of major concern are road safety SDG targets: road crashes undermine economic development and contribute to poverty costing $2 trillion a year equivalent to 3-5% of GDP; G20 countries account for 59% of road traffic fatalities; casualties are rising in many countries. There are areas of progress in sustainable transportation financing by MDBs, Governments and at city level. There are prominent examples of effective financing, including by G20 countries on safe and sustainable mobility reaching SDG objectives on poverty, economic development, public health and climate. However, drawing upon these examples, a strengthened and systematic approach is needed to support a pipeline of investable projects, and to build capacity for more effective financing. A platform bringing together expertise on safe and sustainable mobility with Multilateral Development Banks (MDBs) and Governments should be initiated by the G20. This would also play a key role in reaching the priorities identified by the Infrastructure Working Group (IWG) under Brazil’s G20 Presidency. This agenda would build on previous G20 outcomes, in particular ‘Financing Cities of Tomorrow’ and the G20 Principles for Quality Infrastructure Investment.