A new study titled “Cost and Benefit of the Urban Mobility Transition,” by the European Institute of Technology and Innovation, reveals that European Cities will need to raise an extra €1.5 trillion in investment to meet Green Deal emissions.
Many countries within the European Union are facing less than rosy economic outlooks, so it will not come as welcome news that a study from EIT Urban Mobility, an initiative of the European Institute of Technology and Innovation (EIT), a body of the European Union, has revealed that European Cities need extra investment of €1.5 trillion to meet the EU’s Green Deal emissions objectives.
All details from the study will be presented on November 6th at the Tomorrow.Mobility World Congress, which is an international event that promotes the design and adoption of new sustainable urban mobility schemes.
The EIT Urban Mobility research has detailed three simulations covering three transition scenarios across 12 diverse European urban city prototypes, reflecting the diversity of the urban environments inside the EU. The study will also point out that while advancements in technology could reduce CO2 emissions by up to 21% by 2023, reaching the Green Deal targets will require more ambitious measures. If the 2030 target is to be met, a 44% reduction in emissions will be necessary, requiring significant public acceptance and a behavioural change.
Researcher Stefano Borgato will present the findings and conclusions at the Tomorrow.Mobility World Congress, highlighting specific measures on how to reduce private car use further, consequently reducing emission levels. The measures will include suggestions for making public transport more attractive, shared mobility, and low-emission zones.
The study suggests that the measures could reduce private car trips by up to 16% and increase the use of public transport by 7%. This would result in a 7% increase in public transport ridership and up to a 16% reduction in private car trips by 2023.
The primary scenarios outlined in the study are projected to meet the Green Deal’s decarbonisation transport sector goals by 2030 on the back of expected technological advancements and the renewals of vehicle fleets.
The “Cost and Benefit of the Urban Mobility Transition” study analyses the impact of 39 measures, which include the deployment of Low Emission Zones, subsidised fleet renewals, Road Charging, Limited Traffic Zones, car-free days and shared mobility.
The research study estimates that just meeting the targets set out in the EU’s Green Deal for 2025 requires at least €1.5 Trillion of additional investment, which includes half a billion euros for the implementation and management of the sustainable mobility measures.
The study also highlights that the benefits extend further than air quality and will also focus on public health. A move towards active modes of transport, such as cycling and walking, could also result in a significant saving in health care costs, up to €1,170 per capita by 2050. In addition to this, improvements in road safety, through the adoption of intelligent transport systems, could potentially reduce road traffic fatalities by up to 70% by 2050.
The “Cost and Benefit of the Urban Mobility Transition” underscores that regardless of European cities’ individual nuances, prioritising public transport is necessary for a sustainable and fair urban mobility transition. It offers an ideal compromise between C02 emission reductions and investment and is the only inclusive mobility option for all segments of the population.
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