International Evidence on the Economic Benefits of Investing in Cycle Infrastructure
Dima Fadda, Arcadis, Dr. Colin Black, Arcadis
International Evidence clearly proves the economic benefits of ST still it remains hard to gain funding.Investment is constrained by decision making processes that also inhibit policy realisation.A better understanding of the challenges is crucial
EVIDENCE is a 3 year EU-funded project coordinated by Arcadis working with leading specialists in sustainable transport from across Europe. For the first time in history the project team has undertaken a systemic review of all published sources of data that have evaluated the economic benefits of sustainable transport measures. EVIDENCE has now published a summary of key evidence sources available to support the view that investing in sustainable transport measures produces outcomes that are economically successful (see www.EVIDENCE-project.eu).
This enhanced knowledge should help facilitate effective integration of sustainable transport measures into urban mobility plans by providing robust evidence around which to develop a credible business plan for investment.
Both the public and private sector have a limited amount of funding available. It is crucial to understand how best to use this investment efficiently to address urban mobility issues in a manner that maximises economic benefits. EVIDENCE shows that interventions and investments that support higher level of walking, cycling and public transport are as effective (if not more) as traditional transport infrastructure projects. The data can be used to help remove doubts and build confidence that SUM investment is good for the economy.
The workshop is intended to highlight opportunities to unlock value from sustainable transport investment. To deliver this, governments need to ensure that promotion of sustainable urban mobility plans is supported by restructured funding arrangements. Across the EU member states are missing opportunities to optimise economic benefits by adopting sustainable urban mobility initiatives. This is set against a political backdrop of prioritising investment to aide economic recovery.
Keywords: Austerity and funding, Transport and economic growth, Better streets and urban design, Transport Assessment
Association for European Transport