The elaboration of strategies in different economic sectors relies on the forecasts of international financial institutions and these estimates predict the duplication of the global economic dimension by 2050.
When it comes to economy, transport always plays an important role covering a significant share of economy with all its sub-sectors and categories. In the past three decades, the energy used by transports has doubled and transport-generated emissions have increased. The historic Paris Agreement, through which 195 countries committed to reach the global warming limitation objective under 2 degrees Celsius, is a stimulus for railway transport.
The development of this transport mode is crucial for the climate change objective, even more so since global freight transport is expected to increase by 80% and passenger transport by 50%, until 2050.
Sustainable development is a reference element for financial institutions which, from 2016, have continued to sign new partnerships and investment commitments to develop an efficient and productive transport infrastructure leading to the establishment of sustainable transport systems. For example, this year, the Asian Development Bank required private institutions to get involved in infrastructure projects. Also, in 2017, the New Development Bank signed several memorandums of understanding with the two large European banks, EBRD and EIB, and with Eurasian Development Bank, International Investment Bank and Asian Infrastructure Investment Bank. All these agreements rely on increasing cooperation and supporting sustainable development, especially in the infrastructure sector.
By 2050, costs with transport investments could reach USD 45 trillion. Together with necessary investments for reconstruction, modernisation, operation and maintenance projects, costs amount to USD 120 trillion and include road infrastructure, bus transport systems, railway infrastructure, as well as high-speed infrastructure.
Global mobilisation includes adopting strategies, measures and projects in each country, which, using its own financial agreements, next to those delivered by banks and the private environment, is capable of integrating itself into the global transport system and to engage in reaching the environmental, economic and social common goals. So, we come back to the primordial importance of railway infrastructure development, with all its positive implications – answers efficiently to the global connections needs providing transport services for hundreds of tonnes of freight, offers increasingly productive passenger services, involving both private and public parties and reducing significantly the environmental impact.
All for sustainable development.
Editorial by:
Pamela Luica
Chief Editor
Railway PRO
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