Welcome of course, but too fucking late. We’re already at 1.5°, a few bike lanes isn’t going to cut it.
I’d say this is less about reducing CO2 and more about making cities and towns nicer places to live and helping people live healthier lives.
I have no idea what the stats on this are, but I’d guess that the amount of emissions saved in people cycling more vs using a petrol car or electric car wouldn’t actually be much compared to measures that reduce emissions from goods transport.