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Objectives & Principles

Objectives

The objectives of the Rail Working Group are:
to work with the rail industry, government and government agencies to raise awareness of the proposed Rail Protocol and to promote its adoption in a form that will encourage greater and more cost-effective financing by the private sector of capital investment in railway rolling stock.

Principles

In pursuit of its objectives, the RWG has established the following central principles:
  • Supports increased capital investment in railway rolling stock.
  • Believes that private sector finance is the key to effective and expanding rolling stock procurement in the rail industry.
  • Considers that adequate and internationally applicable security systems are essential to encourage more private investment in rail rolling stock.
  • Supports the application of the 2001 Cape Town Convention on International Interests in Mobile Equipment to all railway rolling stock through the adoption of the Luxembourg Rail Protocol.
  • Encourages the rail industry to press for the Luxembourg Rail Protocol’s prompt signature and ratification and urges its implementation in a cost-effective manner, taking into account current business and operational practices.
  • Recommends to manufacturers that they introduce as soon as possible (where they have not already done so) unique identification systems for each item of rolling stock they produce.