Financing Climate Action in Transportation: Transforming Transportation 2024 and the Paratransit / Popular Transportation Day

From March 19 to 21, Washington D.C. played host to two events at the World Bank Headquarters: the Transforming Transportation Conference 2024, co-hosted by the World Bank and World Resources Institute (WRI), followed by the Paratransit / Popular Transportation Day, hosted by the Shared-Use Mobility Center. Emphasizing the urgent need for sustainable, low-carbon transport systems, mainly in Global South, these events marked a significant step forward in discussing the field of climate finance and transportation.

The Transforming Transportation Conference 2024 centered on the theme of "Mobilizing Finance for Climate Action," drawing global leaders, policymakers, and industry experts into an in-depth dialogue on financing the shift towards resilient, low-emission transport. Key discussions spanned a variety of critical issues including the scaling of finance for green transport solutions, the pursuit of equitable and resilient infrastructure, and the promotion of inclusive, safe mobility options.

Pabel Muñoz, the Mayor of Quito, Ecuador, criticized the prevailing emphasis on transport subsidies over the tangible benefits for users. Emphasizing a shift in strategy, the conference underlined the importance of empowering cities to lead the transition towards sustainable transportation. “Cities must be at the heart of this transition, as they have shown time and time again, they can lead bottom-up transformation,” remarked van den Berg, advocating for urban centers to lead the way in this global effort.

The subsequent event, Paratransit / Popular Transportation Day, focused on the role of privately operated but publicly essential local transportation systems. These systems, which serve billions and employ millions, were discussed in the context of their potential to contribute to the decarbonization of transportation and support a just transition towards sustainability. Participants included a range of stakeholders, from researchers and practitioners to advocates, engaging in dialogues about finance, fleet renewal, data, technology, and research in the field.

The discussions featured contributions from experts affiliated with various organizations, including the Africa Transport Program (SSATP), Center for Sustainable Urban Development at Columbia’s Climate School (CSUD), Climate Champions, Digital Transportation for Africa (DT4A), Global Network for Popular Transportation (GNPT), International Transport Workers Federation (ITWF), RMI, Shared-Use Mobility Center (SUMC), Volvo Educational and Research Foundations (VREF), the World Bank, WRI’s Ross Center for Sustainable Cities, and more.

The event was structured into three sessions. The first session brought together experts for roundtable discussions on climate finance and funding for paratransit and popular transportation. The second session showed case studies focused on improving and decarbonizing popular transportation, with presentations from professionals such as Fernanda Rivera of the Mobility Secretariat of Mexico City, Dr. Rutul Joshi of CEPT University, Mansha Sehgal of World Bank, Chaitanya Kanuri of WRI India, and Simon Saddier, the Urban Mobility Pillar Lead for the African Transport Policy Program (SSATP). The final session focused on leveraging data and technology to enhance finance and climate initiatives in popular transportation, featuring presentations from experts like Thinus Booysen of Stellenbosch University, Mohamed Hegazy of Transport for Cairo, Tolga İmamoğlu of WRI Türkiye, Stephen Perkins Head of International Transport Forum (ITF), and Benjamin de la Peña, CEO of Shared-Use Mobility Center (SUMC).