On 3 December 2023, the Global Infrastructure Basel Foundation (GIB) and the FAST-Infra group (FIG) held a panel at COP28. Dedicated to presenting the FAST-Infra label and a pioneering project developed in Mumbai, which has successfully obtained the provisional label, this event took place in the LGMA pavilion, dedicated to multi-level government agencies and sponsored by Bloomberg Philantropies, one of GIB’s partners.
Moderated by Robert Spencer from AECOM, a member of the FAST Infra Label executive committee, the discussion enabled the panellists to share their expertise and views on the growing importance of sustainable and resilient infrastructure and the potential impact of the FAST-Infra Label in catalysing the transition of infrastructure to a sustainable future. Among them, François Bergère, CEO of FAST -Infra Group, presented the selection criteria for the first projects to be awarded the label.
The FAST-Infra label aims to attract investors to sustainable projects and to encourage the integration of the SDGs into the life cycle of infrastructure projects. It aims to facilitate collaboration between the various stakeholders and should benefit project developers, along with operators, investors and governments, thereby promoting the development of sustainable and resilient infrastructures.
The panel presented the pioneering project of the city of Mumbai, India, which has obtained the label with an electric charging depot via photovoltaic panels for a new public bus network. Mumbai is a member of the C40 Cities network, an organisation set up in 2005 to combat climate change and which brings together 94 of the world’s largest cities (600 million inhabitants, 25% of global GDP, but also 70% of greenhouse gas emissions).
Mumbai’s urban bus services are leading the transition to e-buses in India, with over 400 e-buses in operation and a further 4,700 e-buses planned for 2024. The energy challenge is a major one, as 80% of Mumbai’s electricity network relies on coal. The first step is therefore to develop the implementation of photovoltaic solar panels in the 27 bus depots in the Indian megalopolis.
The first to receive the provisional FAST-Infra label, the Mumbai project benefited from the tools offered by the group: advice on developing climate action projects, help with self-assessment of sustainable infrastructure projects and external assessments to promote investor confidence.
Robert Spencer, member of the executive committee (AECOM), Francois Bergère (FAST-Infra Group); Veronica Scotti (Swiss Re); Aditi Maheshwari (C40 Cities); Vikram Widge (Climate Policy Initiative).
Watch the full panel :
Pioneering transition to sustainable infrastructure with FAST-Infra Label