Transport for London
London, Great Britain| Invested through / Financed by |
|
|---|---|
| Asset class | Impact bonds |
| Impact strategy | Impact Equities and Bonds |
| Sector | Other |
| Bloomberg ticker | N.A. |
| ISIN code | XS1222743061 |
| Industry group | Transportation |
| Sustainable Development Goals (SDGs) |
Transport for London (TfL) is the local public body responsible for public transport in the City of London and the Greater London area. TfL’s responsibilities include London’s public buses, rail and metro system, road, cycling and walking system, public river transportation, as well as transportation services on request. Funding is derived mainly from transportation passenger income (47%) but also from road user charging, grants and borrowing.
TfL was created in 2000 as part of the Greater London Authority (GLA) by the Greater London Authority Act 1999. It gained most of its functions from its predecessor London Regional Transport in 2000. TfL employs over 27,000 people and is headquartered in London.
Investment rationale
Globally, transportation accounts for around a quarter of CO2 emissions. Bus and rail transport have the potential to reduce passenger transport GHG emissions by around 30% and 70%, respectively. TfL has fully electrified its under and above ground metro systems and has targeted to make its entire fleet zero emission by 2037. While TfL also manages the road network in London, the organisation focuses on improving public transportation and increasing cycling and walking. TfL's investment plan is guided by the Mayor of London's target that by 2041, 80% of all journeys will be made on foot, by cycle or using public transport by 2041. Furthermore, TfL aims to reduce other air emissions, through ultra-low emission zones and upgrades in its underground lines.