his report was funded by HSBC. Additional funding support was provided by Bloomberg Philanthropies. Data and analysis for the Bogota case study were based upon an ex-post evaluation of TransMilenio prepared previously by EMBARQ’s Dario Hidalgo for Colombia’s National Planning Department, which also drew upon analysis/modeling completed by Steer Davies Gleave. Data and analysis for the Mexico City case study was based on previously unpublished work completed at EMBARQ Mexico by former staff David Uniman and Heber Delgado. The authors thank Serdar Oncel, Technical Manager of EMBARQ Turkey, for his input into the Istanbul case; Binoy Mascarenhas of EMBARQ India for his contribution to the Ahmedabad case study; EMBARQ Mexico’s Erin Francke for her detailed comments on the Mexico City case; Christo Venter for his review of the Johannesburg case; EMBARQ’s Qianqian Zhang and Vineet John for contributing research to the public health impacts sections; and EMBARQ’s Uttara Narayan for assistance with general research. Valuable comments on the manuscript were also received from Daryl Ditz, Benoit Colin, and Dario Hidalgo. Thanks also to the HSBC team for their detailed review and comments throughout the project. The views expressed in this report are those of the authors and do not necessarily reflect the views of the funders.