Driving change: The decarbonisation of European transport
Transport is the bedrock of modern economies. It is also a major source of carbon dioxide emissions. To put this in context, nearly a quarter of Europe’s CO2 emissions – more than a billion tonnes a year – are generated by transport, according to European Union research. And transport emissions, unlike those from other sectors, are rising rather than falling.
The purpose of this study is to examine decarbonisation strategies in three key transportation subsectors: aviation, rail and shipping. We explore how corporates and investors plan to cut emissions, their ambitions and investment plans, and the impact of government policy and new technologies. We also examine the steps they are considering as they look to optimise their investments and minimise risk.
- Decarbonisation high on the agenda: 79% of respondents say that decarbonisation is a primary driver of their organisation’s investment strategy
- Capital allocation rises: 34% of corporates and 66% of investors expect to devote at least EUR1 billion to decarbonisation projects and technologies over the next 24 months, versus 20% of corporates and 48% of investors over the past 24 months.
- Investment increases: The majority of respondents across all subsectors anticipate significant increases (between 50% and 200%) in their investment in decarbonisation over the next five years compared to the past five years.
- Ambitious plans: More than half of corporates (across all three subsectors) say that their organisation plans to cut net carbon emissions by at least 40% by 2030 compared with current levels.
We also held a panel discussion and live Q&A with senior representatives from the transport and investment industries on Tuesday 16 November, to assess the findings of this report.
DLA Piper – Legal Services Provider to COP26
In association with Inframation