Transport

• [New] The UK is going further and faster than any other major economy to decarbonise transport, harnessing the power of clean, green technology to end the UK 's contribution to climate change by 2050.
• [New] Hydrogen - Working with industry, the UK is aiming for 5GW of low carbon H2 capacity by 2030 for use in power, transport, industry and homes.
• [New] The Dubai Self-Driving Transport Strategy has set a target for a quarter of all mobility trips in Dubai to be via self-driving transport by 2030 to reduce carbon emissions and accidents.
• [New] To achieve the goal of climate neutrality by 2050 - as set out in the European Green Deal and endorsed by the European Council - transport emissions must go down by 90%.
• [New] Quebec is relying heavily on the electrification of transportation to achieve its objective of reducing Quebec's GHG emissions by 37.5% by 2030 compared to the 1990 level.
• Richard Branson's Virgin Hyperloop has completed the world's first passenger ride on a high-speed levitating pod system, a key safety test for technology it hopes will transform human and cargo transportation.
• With the UK government set to ban fossil fuel vehicles from 2035, hydrogen fuel cells could do much of the heavy lifting in decarbonising freight and public transport, where 80% of hydrogen demand in transport is likely to come from.
• Surface transport is now the largest source of UK carbon emissions and will require significant decarbonisation as the UK transitions to meet its 2050 net zero target.
• Transport is the largest contributor to the UK's carbon dioxide emissions, meaning large strides must be made to meet the UK Government's pledge for net zero by 2050.
• 90% of America's light-duty cars will need to be electric by 2050 if the transportation sector is to stay in line with climate mitigation targets set out in the Paris agreement.
• Achieving carbon neutrality before 2060 will require drastically reducing the use of fossil fuels in transportation and electricity generation and offsetting any remaining emissions through carbon capture and storage or planting forests.
• Emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, largely because of reduced oil and gas demand in sectors like transport and heavy industry.
• Ontario remains the largest issuer of Canadian dollar Green Bonds totaling $6.75 billion since 2014-15, and plans to continue to be an active issuer of Green Bonds in 2020-21.
• Credit Mutuel Alliance Federale issued the second largest green bond in October so far with a 7-year EUR750m (USD881m) green bond that will be used for financing green buildings, renewable energy and low carbon transport.
• California has a broader goal of reducing greenhouse gas emissions by 80% from 1990 levels by 2050, but in recent years transportation-sector emissions have increased.
• Oil demand will be the biggest casualty of lower energy demand in the coming three decades as weaker economic growth and a faster transition to renewable energy accelerate the demise of oil-based transport fuels.
• Nearly $11 trillion of investment in production, storage and transport infrastructure is needed for hydrogen to meet about a quarter of the world's energy needs by 2050.
• There may be a net positive influence in BEV demand resulting from a reluctance to revert to the use of public transport (especially in China).
• All scenarios achieve at least an 80% reduction in gross GHG emissions by 2045, representing new and ambitious actions and technology deployments to reduce emissions in California.
• The Chinese economic model is very good at mobilising large amounts of investment, so scaling up clean energy, electrified transport and other new, clean technologies might not be the largest challenge in reaching carbon neutrality by 2060.
• An orderly transition to net-zero emissions could fuel a $63 billion investment drive that benefits manufacturing ($15 billion), transport ($6 billion) and green hydrogen production ($3 billion).
• Japan's roadmap inserts itself within the IMO's industry-wide plan to reduce emissions per transport work by at least 40% by 2030 and bring down the total annual greenhouse gas emissions by 50% by 2050.
• With many countries seeking to industrialize and expand - OPEC expects the global population to hit 9.5 billion by 2045 - demand for fossil fuels in the global transport and industrial sectors will also continue to grow through 2045.

Last updated: 27 November 2020