Reference Studies
The Impact of Railway Stations on Residential and Commercial Property Value: A Meta Analysis
Eric Pels and Piet Rietveld, 2006

Railway stations function as nodes in transport networks and places in an urban environment. They have accessibility and environmental impacts, which contribute to property value. The literature on the effects of railway stations on property value is mixed in its finding in respect to impact magnitude and direction, ranging from a negative to an insignificant or a positive impact. This paper attempts to explain the variation in the findings by meta-analytical procedures.

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Rail + Property Development: A model of sustainable transit finance and urbanism
Robert Cervero and Jin Murakami, 2008

This report examines the R+P “approach” to railway finance and its largerrole inbuilding station‐area communities and shaping regional growth. As discussed later, the word “approach” is used becauseR+P is more than an end‐product of “brick and mortar” atop subway stations;rather, it is a carefully conceived process for planning, supervising, implementing, and managing station‐area development and tapping into the land‐price appreciation thatresults. And R+P’s reach extends beyond the walking catchments of stations. Its role in shaping the city and surroundings has gained importance as Hong Kong continues to transform from a pre‐industrial colonial settlement to a dynamic global urban center. With the re‐structuring of Hong Kong’s economy toward a service‐ and information‐based economy,railway investments have gained all the more importance in spatially channeling urban growth and recycling former industrial land.

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The Value of Station Investment
Steer Davies Gleave commissioned by Network Rail, 2011

Network Rail commissioned Steer Davies Gleave to quantify, as robustly as possible, the impact of station investment on regeneration, other local impacts and wider economic development. This report sets out the results of an extensive programme of research on the role of stations in the economy and the impacts of recent investment at various stations over the last ten years. It also identifies a number of implications for future investment projects.

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External Costs of Transport in Europe
CE Delft, INFRAS and ISI commissioned by UIC, 2011

This update study aims to obtain a state-of-the-art overview of the total, average and marginal external costs of transport in the EU.

This update study shows that the average external costs for road transport are much higher than for rail. Per passenger-km the costs of cars or aviation are about four times those of rail transport. For freight transport we see a similar pattern. The predominant cost categories are accidents and emissions (climate change, air pollution and upstream).

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EcoPassenger and EcoTransIT

EcoTransIT tool was originally developed by a consortium of the five European railways FS, SNCF, SBB, DB and Green Cargo. In 2007 the EcoTransIT consortium was joined by RENFE (ES), EWS (GB) SNCB (BE) and UIC.

EcoPassenger and EcoTransIT are fed with the best available data for all modes, and developed in cooperation with Ifeu (the German Institute for Environment and Energy) and technical providers of European routing systems and software, Hacon and IVEmbH (routing system and software)

EcoPassenger and EcoTransIT include rail data from the new UIC energy and CO2-data base. EcoPassenger and EcoTransIT do not only calculate the energy or the fuel it takes to run the train, car or the plane. The calculations include the emissions from the cumulative energy consumption (as seen below) including the energy used to produce the electricity or the fuel, in a “well to wheel”-perspective.

 Go to Ecopassenger website
Go to EcoTransIT website 
IMPACT - Internalisation Measures and Policies for All external Cost of Transport
By CE Delft, 2008

In the light of this mandate from the EU legislator, the European Commission has commissioned the IMPACT study in order to summarise the existing scientific and practitioner’s knowledge. The central aim of the study is to provide a comprehensive overview of approaches for estimation and internalisation of external cost and to recommend a set of methods and default values for estimating external costs when conceiving and implementing transport pricing policy and schemes. The study also provide technical support to the Commission services to carry out an Impact Assessment of strategies to internalise transport external costs.

 Download the Handbook on estimation of external costs in the transport sector

INTERCONNECT - Interconnection between Short and Long-Distance Transport Networks
By Napier University, MCRIT et al., 2011

INTERCONNECT is concerned with the role of local and regional interconnections in the context of the growing importance of long-distance passenger journeys in Europe. Effective interconnection between individual legs is a necessary feature of a significant proportion of passenger journeys, particularly those journeys which contribute most to regional and national economies. Poor interconnectivity among different transport networks may compromise the objectives of integration of the TEN-T network investments and policy measures.

 Download the INTERCONNECT Final Report

TERM indicators - Transport and Energy Reporting Mechanism
By European Environment Agency (EEA).

For the first time ever the European Commissions is proposing a greenhouse gas emissions target for transport. But how is transport going to provide the services that our society needs while minimising its environmental impacts? This is the theme for the Transport White Paper launched in 2011. TERM 2011 and future reports aim to deliver an annual assessment on progress towards these targets by introducing the Transport and Environment Reporting Mechanism Core Set of Indicators (TERM-CSI). TERM 2011 provides also the baseline to which progress will be checked against, covering most of the environmental areas, including energy consumption, emissions, noise and transport demand. In addition, this report shows latest data and discuss on the different aspects that can contribute the most to minimise transport impacts. TERM 2011 applies the avoid-shift-improve (ASI) approach, introduced in the previous TERM report, analysing ways to optimise transport demand, obtain a more sustainable modal split or use the best technology available.

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RAILPAG (Rail Project Appraisal Guidelines)

By European Investment Bank, 2005 

RAILPAG (Rail Project Appraisal Guidelines) is the first example of a joint EC-EIB effort to provide sector guidance for project quality. RAILPAG is supported by international rail associations (CER, EIM, UIC, UNIFE) and other IFIs (World Bank, EBRD).
RAILPAG responds to the need for harmonised procedures for rail project appraisal and suggests best practices for applying cost-benefit analysis to rail projects, in such a way that the features of this rapidly changing sector can be properly taken into account (multiplicity of stakeholders, growing integration of the network, and of the transport sector with other sectors of the economy, interoperability, etc.).

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Rail Freight Transport Development 1970-2010 and 2010-2050

By Christoph Seidelmann, 2013 

This document reports on the technical, organisational and economic development of freight transport on rail during the last 40 years, and it sets forward some ideas on the probable (not necessarily desirable) development of rail transport in the forthcoming 40 years.

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Economic Analysis of High Speed Rail in Europe
By Ginés de Rus (ed.), BBVA Foundation, 2009

The aim of this report is to contribute to the economic analysis of new high speed rail investment projects requiring public funds. The economic evaluation of projects can help governments to obtain a clearer view of the expected net benefits of different lines of action, as it attempts to identify the projects which really deserve the sacrifice of other social needs competing for the same public funds. We analyze the circumstances under which society may benefit from investing in high speed rail, and when it is sensible to delay the investment decision.The high speed rail network may be built gradually, adding new lines once the economic evaluation of projects shows a positive social profitability.

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