By partnering with the private sector, the US has the power to finance new infrastructure and stay ahead of a heating climate.
The US is at the nexus of two critical needs: financing new infrastructure projects and supporting the transition to a net-zero economy. Both initiatives must incorporate private capital as a key funding and collaboration source to be successful. As our climate changes, private actors worldwide are working to form higher environmental, social, and governance (ESG) performance targets — which require more investments, knowledge, and urgency that private capital can deliver.
The private sector offers many viable solutions that can solve these needs for our communities and planet. Specifically, public-private partnerships can facilitate complex infrastructure projects with bold environmental targets, including net zero emissions. By leveraging the private sector, governments can amplify their influence without exhausting resources. Additional benefits of forming sustainable partnerships with the private sector include:
- Additional resources and potential for innovation to reach low-footprint infrastructure solutions
- Proven track records of dedicated commitments to deliver on environmental targets
- New and advanced opportunities to develop more equitable and inclusive economies
- Specialized attention and expertise to resolve environmental concerns, ensuring more efficiency from the development through operations stages of a project's lifecycle
At Transurban, we look forward to continuing the momentum to improve our climate resilience and achieve net-zero operations through all of our project partnerships. This includes setting the highest sustainability standards for our operations, forming ambitious emission reduction targets, and partnering with government to achieve climate goals in the communities where we operate.
Read more insights on how the private sector can rise to meet complex climate challenges on page 24 of P3 Bulletin's 2021 Net Zero Partnerships Report: https://bit.ly/3iwa9U8