汇丰银行-全球-航空业-气候变化正影响航空业-2019.9.10-36页_2mb.pdf

10 September 2019 用户上传 更多免费报告请查看研报客 The second frontier Equities and Climate Change Global The climate is changing for airlines  Transport accounts for 16% of GHGs – and airlines are one of the hardest modes to decarbonise, but pressure is growing  In this collaboration between our airlines, ESG and data science teams, we consider the response of EU and US airlines  We find a 2019 spike in climate discussions in earnings calls, with emissions disparities between low cost and legacy carriers Increasing focus on airlines to contribute to climate ambition: Policy-makers are increasing their focus on cutting transport sector emissions. As a part of this push, the CORSIA rules target 2020 as the intended peak year for aviation Andrew Lobbenberg* Analyst emissions. This regulatory push is being matched, in our opinion, by increasing public HSBC Bank plc pressure and the greater focus we are seeing from investors on how climate change andrew.lobbenberg@ +44 20 7991 6816 is being addressed by portfolio companies operating across the economy. Mark McDonald