In emerging and developing economies, most of the infrastructure required to meet development goals is still to be built, particularly in urban settings (Corfee-Morlotet al., Historically, the challenge of rising energy demand and transport needs has mostly been met with fossil fuels. City infrastructure mainly revolves around the use of private cars. While some investments in carbon-efficient fossil-fuel infrastructure is still needed to support economic development in the coming decades, there is an urgent need to reallocate and significantly scale up capital to low-carbon, more energy efficient alternatives.