Railways help reduce GHG emissions from transport, while supporting economic development and increased mobility. Rail is among the most energy-efficient modes of transport, with typical GHG savings of 70-80 percent over road or air transport. Rail transport is also an innovative sector with hydrogen-based technologies being actively explored by manufacturers.
But rail transport is capital-intensive and harnessing the power of railways will require an estimated $300 billion per year of additional annual investment¡ªa number that largely exceeds the capacity of governments and development partners. That figure does not even account for the need to address issues of infrastructure adaptation and resiliency, which has become a key priority in the face of growing climate risk.
To help close the gap and maximize the climate potential of railways, this event will explore some of the most promising solutions that can bring more financing to the sector, especially through mobilizing private capital and tapping climate-specific financing instruments like climate funds, carbon finance and green bonds. Based on recent published studies and case studies, the panel will discuss how such programs can be scaled up through innovative financing solutions and partnerships between governments and the private sector.