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€1.5 trillion euros needed to meet EU transport sector goals

15 days ago

2 minutes

Source: SAZ BIKE

The European Union’s EIT Urban Mobility initiative has published its latest “Costs and Benefits of the Urban Mobility Transition” study, which calculates the investment needed by 2050 for the EU to achieve its Green Deal goals.

This study is an update on previous findings from its 2021 report, presenting detailed simulations of three transition scenarios for twelve European city prototypes. It highlights the diversity of urban spaces across the EU and outlines the challenges and opportunities for achieving significant CO2 reductions by 2030.

The findings suggest that while technological advances alone could reduce urban mobility CO2 emissions by 21% by 2030, this figure falls short of the EU’s Green Deal target, which requires a 44% reduction in emissions. According to the report, achieving the 2030 Green Deal goals will require major behavioral changes, presenting significant challenges in terms of public acceptance.

It emphasizes the potential of reducing car use and emissions through a mix of enhanced public transport, shared mobility alternatives, and access restrictions. By 2030, EIT has calculated that these measures could result in a 7% increase in public transport trips and a 16% reduction in private car trips.

Commenting on the findings, Maria Tsavachidis, CEO of EIT Urban Mobility, said: “The report underlines the urgency of prioritising targeted investments in clean mobility to achieve positive impacts on health and the environment. Public transport is proving to be the most affordable and comprehensive solution to reduce CO2 emissions. However, this change brings challenges. We need coordinated efforts at all levels – from the local to the European level – to ensure that the necessary investments are made and that citizens are involved and supported in this development.”

The benefits of achieving Green Deal goals outweigh its costly investment

While all three scenarios are projected to meet the 2050 decarbonisation targets, achieving these goals will require an investment of at least €1.5 trillion. Despite these costs, the study concludes that the benefits, including improved public health, reduced emissions, and increased road safety, outweigh the financial burden.

The full study, “Costs and Benefits of the Urban Mobility Transition,” provides key insights for policymakers and urban planners and is available for further review.

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