Transport transformation critical to address climate change: UN Report


New Delhi, Oct 12 | New and emerging technologies, from electric cars and buses to zero-carbon producing energy sources, as well as the policy innovations, are critical for combating climate change, but to be effective, they must ensure that transport strategies benefit everyone, including the poorest, a new UN multi-agency report launched on Tuesday said.

According to the report, there is urgent need for transformative action that will accelerate the transition to sustainable transport globally.

Transport solutions exist that can help achieve the Sustainable Development Goals (SDG) and the Paris Agreement, although the report cautions that without the right policies and investments, they will not bring change to where it is needed most, particularly to people in developing countries.

The report, launched just before the second UN Global Sustainable Transport Conference begins in Beijing on October 14, was prepared by the UN Department of Economic and Social Affairs in close collaboration with 14 other UN agencies.

“Innovations, driven by new technologies, evolving consumer preferences and supportive policy making, are changing the transport landscape,” says Liu Zhenmin, Under-Secretary-General, UN Department of Economic and Social Affairs, in the report’s forward.

“While they hold tremendous potential for hastening the transformation to sustainability, they also come with the risk that they could further entrench inequalities, impose constraints on countries in special situations, or present additional challenges for the environment.”

The world is well off course in efforts to limit climate change to 1.5 degrees Celsius. With 95 per cent of the world’s transport energy still coming from burning fossil fuels, the transport sector produces a quarter of all energy-related emissions and without major changes, are expected to increase.

The increasing emissions and rising temperatures are causing more extreme weather events, which in turn are also highly disruptive to transportation and transportation infrastructure.

And it will take significant investments to ensure that transport infrastructure is upgraded to become climate resilient. A recent study found the cost of adapting 53 ports in the Asia-Pacific region could range from $31 to $49 billion.

However, the World Bank estimates suggest the overall net benefits of investing in resilient infrastructure in developing countries could amount to $4.2 trillion over the lifetime of new infrastructure — a $4 benefit for every dollar invested in resilience.

A low-carbon pandemic recovery could decrease expected emissions in 2030 by 25 per cent, particularly as a result of changes in the shipping, aviation and lifestyle sectors.

But at the same time, more than 120 million people were pushed into extreme poverty across the world in 2020 due to the Covid-19 pandemic.

Over a billion people still lack access to an all-weather road, and only about half the world’s urban population has convenient access to public transport.

In Africa, about 450 million people, or more than 70 per cent of its total rural population, are estimated to still be unconnected to transport infrastructure and systems.

A lack of access to roads and transport contributes to deprivation in terms of access to timely healthcare, education, jobs and markets for agricultural produce. Rural isolation disproportionately harms the poor, older persons, persons with disabilities, children and women. Women and girls can face additional challenges when there are concerns about their physical safety.

Transport is especially costly for many of the world’s least developed countries, particularly those that are landlocked, and small island developing countries.

Customs and border-crossing procedures, as well as long and often circuitous transit routes, mean that, from order to delivery, it takes landlocked-least developed countries nearly twice as long to import and export goods than others and have a higher average cost of export — $3,444 per container, than transit countries.

In addition, landlocked least developed countries would need to construct almost 200,000 km of paved roads and 46,000 km of railway, at a cost of about $500 billion, equivalent to an average of around 2 per cent of GDP over a period of 20 years to catch up with transport accessibility in the rest of the world.

New innovative technologies, the report says, when appropriately applied, are key to solving many of the challenges to achieving sustainable transport.

The deployment of existing solutions, such as low or zero-carbon vehicles, automated safety, and intelligent transport systems, must be accelerated.

The report also found that there is a need for standards and targets, such as for accelerating the phase-in of low-emissions technology accompanied by a winding down and phasing-out of deployment of fossil fuel-powered options.

“The clock is ticking on our 2030 timeline to achieve the Sustainable Development Goals, and for meeting the objectives of the Paris Climate Change Agreement,” Liu said.

“The forthcoming second Global Sustainable Transport Conference will be a landmark moment for stakeholders from across the world to discuss the challenges and opportunities, good practices and solutions.”

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered with modest gain against the resilient global cues. Throughout the week, Sensex traded in a narrow range following an uneven move. Sensex ended at 54884.66 gaining 558 points or 1.03 percent while Nifty settled at 16352.45 with 86 points or 0.53 percent on a weekly basis. While Banknifty ended at 35613.30 levels with strong bounce with an upside of 3.90 percent in a week.

sharemarket weekly updates bhaskarlive

INDIA VIX has cooled off during the week with 7.01 percent and has settled at 21.48 levels. Investors and traders may watch out key events such as the RBI meet in the second week as well as the US Fed meeting likely to be on 14-15 June for monthly expiry. As corporate results are likely to end soon stocks would expect less volatility in upcoming days. In Nifty stocks, HDFCLIFE gained 9.61 percent while DIVISLAB shed 18.41 percent in a week. Sectorally Nifty Finance saw the highest gains of 4.32 percent followed by the Nifty Auto with 3.26 percent. On the flip side Nifty Pharma, Energy, Realty and PSE lose more than 3 percent each on a weekly basis. However Midcap gained 0.77 percent while Smal lcap dropped by 3.42 percent.

Technically, Nifty has formed a bullish candle on the weekly chart with a long tail suggesting strong support around 15900 levels, while on the upside 16800 may act as strong resistance. Index has taken support from the previous horizontal line & closed above 21-days Simple Moving Averages that indicates further pullback rally in the near term.

Indicators such as RSI remained in the neutral zone while MACD suggest some positive cross over observed in daily time frame suggest some sign of reversal. Coming to the OI Data, on the call side the highest OI witnessed was 16500 followed by 16800 strike prices while on the put side, the highest OI was at 16000 strike price. Overall, Nifty is having support at 16000 mark while on the upside 16500 followed by 16750 may act as an immediate resistance. While Bank nifty has support around 34300 while resistance is placed at 36800 on weekly chart.

Om Mehera
Research Associates
Choices Broking

Souce: Choice India


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