Side-event “The Power of Digitalisation in Ensuring Financing of Green and Resilient Linear Transportation Infrastructure” in the margins of the 2024 ITF Summit
Transport & Urban Development
23 May 2024, Leipzig, Germany – Held in the margins of the 2024 Summit of the International Transport Forum (ITF), the open side-event “The Power of Digitalisation in Ensuring Financing of Green and Resilient Linear Transportation Infrastructure”, which will held in Leipzig, Germany on 23 May 2024 from 16.30 to 18.00h CET, will uncover how digitalisation is set to revolutionize infrastructure financing, paving the way for sustainable infrastructure. The panel session will delve deep into the complexities faced by public authorities and how digitalization, in particular Artificial Intelligence, offers an innovative approach to meet the challenges.
Co-organised by the UfM, the International Road Federation (IRF), the International Union for Railways (UIC) and ORIS Materials Intelligence, it will show an approach where the construction sector is at the forefront of a digital transformation, with groundbreaking innovations rooted in data science and artificial intelligence – poised to revolutionize infrastructure financing. These innovations enable predictive insights, forecasting the impact of road and rail projects on carbon emissions, natural resource utilisation, and resilience to climate change, right from the project’s financial inception.
The panel will feature engaging discussions with representatives from public authorities, development banks, and industry experts, acknowledging the structural challenges faced by public authorities in ensuring the most sustainable and resilient linear transportation projects. Real-life case studies will be presented, showcasing these innovative solutions in action and offering valuable insights into the future of infrastructure development. The focal point of the dialogue will revolve around the pivotal role of digitalization in financing a climate-ready sector and in addressing the pressing climate crisis through practical solutions.
The side-event will also announce the signing of a Memorandum of Understanding (MoU) between the UfM and IRF, which aims to further strengthen mutual cooperation and exchange in the years to come through the pursuit of regional and international initiatives in the field of road transport and mobility, including road safety, decarbonisation, digitalisation and innovation for the road and mobility sectors.
About the ITF Summit
The annual ITF Summit is the world’s largest gathering of transport ministers and the premier global transport policy event. Every May, ministers with responsibility for transport, business leaders, heads of international organisations, parliamentarians and policymakers, representatives of business associations and leading researchers meet for three days in Leipzig, Germany, to discuss the future of transport through the prism of a strategic topic. Summit participation has grown to over 1200 participants from more than 80 countries, well beyond the 66 member countries of the ITF.
The 2024 ITF Summit on Greening Transport: Keeping Focus in Times of Crisis will take place from 22 to 24 May in Leipzig, Germany, under the Presidency of Lithuania, with Chile and Azerbaijan as first and second Vice Presidents, respectively. The 2024 Summit will examine the transport sector’s role in environmental sustainability, and assess the impacts of climate, health and geopolitical crises in this context. With transport responsible for 30% of global CO2 emissions and climate change leading to extreme weather events, the urgency for carbon emission reduction is pivotal. The Covid-19 pandemic and geopolitical conflicts have disrupted the transport sector and supply chains, contributing to an energy crisis and environmental challenges. Decision makers are urged to maintain a long-term policy focus amid these crises, leveraging opportunities like cleaner and automated vehicles and digital innovation to promote a greener and more resilient transport sector. Simultaneously, evaluating the environmental risks associated with increased digitalisation is increasingly crucial.
