Transport sector, particularly urban transport sector has long been recognised as the main contributor of Green House Gases Emissions. Investments in urban public transport are needed yet the conventional financing is often difficult to obtain due to the high level of investment and the current government priorities. Urban public transport is also seen to fall within the private sector domain, making it difficult for government to spend public money. The ratification of a Kyoto Protocol has paved ways to develop a financial alternative for sustainable development. Clean Development Mechanism of the Kyoto Protocol has provided an opportunity for urban transport authorities in developing countries to co-finance urban public transport projects using the principle of a carbon trading. The capacity to implement CDM urban public transport projects is essential to the project. Future works should be directed to investigate the methodology in incorporating soft measures and ensuring low project leakage. For the covering abstract see ITRD E116619.
Samenvatting