Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Transitioning to low-carbon transportation significantly reduces greenhouse gas emissions and improves public health by encouraging active travel and reducing air pollution levels, which can lead to long-term savings in healthcare costs [14][16] - Integrated strategies that support healthier, low-carbon urban mobility solutions are essential, particularly for vulnerable groups who are disproportionately exposed to urban health risks [15][17] - The report emphasizes the need for cross-sector collaboration among health, environment, urban planning, and transportation sectors to create healthier cities [21][22] Summary by Sections Executive Summary - Low-carbon mobility is both healthy and cost-effective, necessitating comprehensive cross-sector policies [14] - The transition to low-carbon transportation can save an estimated 130 trillion life-years and 21.5 trillion disability-adjusted life years (DALYs) from 2022 to 2050 in major countries [16] Health and Transportation - Transportation activities are a major source of air pollution in urban environments, contributing significantly to respiratory diseases and premature deaths [15][17] - Vulnerable populations, including women, the elderly, and low-income families, face greater exposure to urban health risks [15] Policy Recommendations - Policymakers should integrate health as a key objective in urban transportation policies, assessing the health impacts of all infrastructure projects [19][20] - Investment in safe, accessible infrastructure for walking, cycling, and public transport is crucial to reduce emissions and improve health outcomes [21][22] Urban Planning and Equity - Equity must be a core element of urban planning, ensuring that all citizens, especially marginalized groups, benefit from improved air quality and health outcomes [22][23] - A data-driven approach should be embedded in urban policy frameworks to enhance public management capabilities [22][23] Sustainable Urban Design - Urban planning can reduce pollution by incorporating green spaces and promoting proximity to essential services, which encourages active transportation [42][43] - The report highlights the importance of compact urban development to facilitate active mobility and reduce reliance on cars [44][45]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report emphasizes the need to allocate scarce energy resources using a cross-sectoral merit order to maximize emissions savings and promote efficiency in resource use [28][33] - It highlights the importance of prioritizing direct electrification over hydrogen and e-fuel technologies for road and rail transport, while advocating for sustainable bioenergy and e-fuels for hard-to-abate transport modes like long-distance aviation and maritime shipping [28][32] Summary by Sections Executive Summary - The report outlines the necessity of efficiently using limited energy resources to achieve decarbonization goals, advocating for a merit order system to prioritize resource allocation [28][30] - It stresses that different sectors will compete for the same energy resources, which can lead to suboptimal emissions savings if not managed properly [29][40] Key Energy Resources for a Low-Carbon Economy - The report identifies four key energy resources essential for decarbonization: renewable electricity, low-carbon hydrogen, bioenergy, and carbon capture technologies [48] - It discusses the challenges of scaling these resources to meet climate targets, emphasizing the need for a merit order to manage resource scarcity effectively [47][48] Recommendations - Governments should develop a cross-sectoral regulatory framework based on a merit order principle to guide the optimal allocation of energy resources [33][34] - The report recommends prioritizing the use of biofuels and e-fuels in sectors with limited alternatives for decarbonization, such as aviation and maritime shipping [34][36] - It advises against mandating hydrogen use in road transport, suggesting that it is more effectively utilized in industrial sectors with fewer alternatives [37][38]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report emphasizes the importance of measuring new mobility services to understand their benefits and negative impacts, guiding policy interventions when necessary [28][29][30] - It highlights that new mobility services have become a significant component of urban transport systems, necessitating effective governance and data collection to ensure they contribute positively to societal outcomes [28][29][38] Summary by Sections Executive Summary - The report assists policymakers in implementing new mobility measurement frameworks, drawing lessons from ten global case studies and offering practical recommendations [28][29] - It builds on previous work by providing a classification framework for new mobility services and performance indicators to monitor their impact [28][29] Measuring New Mobility in Practice - New mobility services, including ride services and fleet-sharing platforms, have emerged as important urban transport components, but they can also produce negative social externalities if not managed effectively [28][29][38] - The report outlines a classification framework for new mobility services and proposes performance indicators across five key policy areas: sustainability, safety, utilization, accessibility, and equity [39][44] Data Collection and Policy Objectives - Public authorities must link data collection efforts to specific policy objectives, ensuring that data supports planning, operations, and enforcement [48][50] - The report stresses the need for high-quality data to inform governance and policy decisions, highlighting the importance of understanding data generation and ensuring its accuracy [30][31][53] Recommendations for Future Implementation - Recommendations include limiting data reporting requirements to essential data, coordinating data collection across government levels, and developing public authority capacity to process and analyze new mobility data [35][37][61] - The report advocates for a balance between flexibility for operators and predictability for public authorities in performance measurement programs [34][35] Case Studies and Best Practices - The report presents various case studies from cities like Antwerp, Berlin, and New York City, showcasing different approaches to measuring new mobility services [38][39] - It identifies common challenges and lessons learned, providing guidelines for public authorities to improve their measurement programs [38][39]

Investment Rating - The report does not explicitly provide an investment rating for the aviation industry Core Insights - Decarbonisation will lead to an increase in air ticket prices, expected to be 25-30% higher by 2060 under the Net Zero Emissions scenario compared to the Baseline scenario, primarily due to the costs associated with emission-reduction measures [29][34] - Sustainable Aviation Fuels (SAFs) are essential for reducing emissions while maintaining connectivity, with governments playing a crucial role in establishing supportive policy frameworks [29][35] - The broader impacts of decarbonising aviation include considerations for connectivity, tourism, equity, and the labour market, with historical demand for air travel expected to continue growing [30][31] Summary by Sections Decarbonising Aviation Policies: Current Status - The aviation sector acknowledges the need to decarbonise, with commitments to reach net-zero by 2050 from major industry associations and governments [41] - Current policies include carbon pricing mechanisms like carbon taxes and emissions trading schemes, which incentivize emission reductions [44][48] - The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) aims to stabilize CO2 emissions at 85% of 2019 levels by requiring airlines to offset growth above this level [48] Projecting Aviation Demand and CO2 Emissions - The report projects aviation demand and CO2 emissions under three scenarios: Baseline, High Ambition, and Net Zero Emissions, with a focus on tank-to-wake CO2 emissions [31][39] - The expected demand for SAFs is around 500 billion litres by 2060, significantly higher than current production levels [35] Exploring the Impacts of Decarbonising Aviation - Decarbonisation policies will affect air connectivity, with potential impacts on tourism and equity, particularly in remote areas reliant on aviation [30][36] - The wealthiest 25% of the population is responsible for over 90% of aviation-related travel, indicating that the costs of decarbonisation policies will be progressively distributed [36][37] Ensuring a Just Transition for the Labour Force - The transition to decarbonised aviation may lead to fewer direct jobs in the sector, but job creation in SAF production could offset this [37] - Collaboration among governments, private sector, and educational institutions is essential for workforce planning and skills development [37]

Investment Rating - The report emphasizes the importance of integrating transport into Nationally Determined Contributions (NDCs) to enhance overall climate action and investment opportunities [9][10]. Core Insights - The transport sector accounts for 23% of energy-related CO2 emissions, necessitating rapid decarbonization to meet Paris Agreement commitments [9]. - While 98% of NDCs mention transport, only 33% include specific emissions reduction targets for the sector, indicating a significant gap in actionable commitments [10]. - The guidance document serves as a tool for governments to develop robust NDCs that include comprehensive transport strategies, aligning with broader climate goals [16]. Summary by Sections Introduction - The report outlines the critical role of the transport sector in achieving global climate targets and the need for governments to adopt deep decarbonization strategies [9]. Transport in NDCs - 98% of NDCs mention transport, but only 33% set CO₂ reduction targets, highlighting inconsistencies in implementation [10]. - The report calls for a comprehensive approach to include transport in NDCs to enhance ambition and mobilize finance [14]. Goals and Measures - Governments are encouraged to set GHG emissions reduction targets for transport that align with economy-wide targets [23]. - A vision for a decarbonized transport system should be articulated, linking transport policies to sustainable development goals [29]. - Specific goals should be established to avoid unnecessary travel, shift to sustainable modes, and improve vehicle technologies [31]. Governance and Monitoring - A governance framework is essential for tracking progress against targets and ensuring alignment between local and national policies [49]. - Monitoring and evaluation mechanisms should be established to assess the effectiveness of NDC interventions [49]. Investments - The report stresses the need to quantify investment requirements for implementing NDCs and to prepare financing strategies that attract private investment [51]. - Governments should explore diverse funding sources, including green bonds and public-private partnerships, to support transport decarbonization [53]. Library of Goals and Policy Measures - The report provides a library of example goals and policies for decarbonizing transport, serving as a guide for governments in their NDC development [55].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Enhancing alignment and strengthening implementation of transport emissions accounting and reporting standards are crucial, prioritizing these over creating new frameworks [40] - The transport sector contributes significantly to greenhouse gas (GHG) emissions, making it vital to decarbonize [42] - The report emphasizes the need for transparent, high-quality, and verified data for GHG emissions accounting and reporting [41] Summary by Sections Executive Summary - Established standards and methodologies for transport GHG emissions accounting and reporting already exist, and policymakers should integrate these into current or new initiatives [40] - GHG emissions accounting and reporting concerns companies of all sizes, and support for SMEs is essential [40] - The report outlines the importance of data quality standards and accreditation processes for effective emissions accounting [41] Understanding Greenhouse Gas Emissions Accounting and Reporting for Transport - GHG emissions from the transport sector are one of the fastest-growing sources of global emissions, necessitating effective calculation and reporting methodologies [52] - The report aims to assess the current state of GHG accounting and reporting practices in the transport sector and identify key challenges [53] Methodologies and Standards for Greenhouse Gas Emissions Accounting - Established methods and standards for accounting GHG emissions of transport have been developed over the past two decades [68] - The two leading global anchor points for GHG accounting and reporting are the ISO 14000 series and the GHG Protocol's frameworks [69][70] Financial Implications of Climate Risk in the Transport Sector - The transport sector is particularly vulnerable to climate-related financial risks, which can impact profitability and creditworthiness [63] - Companies that proactively address their product carbon and corporate carbon footprints will be better positioned to meet future regulatory requirements [62] Top Recommendations - Accelerate further alignment of different standards and methodologies to ISO 14083 to support international cooperation [48] - Deepen collaboration between existing initiatives to optimize the efficiency and effectiveness of transport GHG emissions accounting and reporting [48] - Adopt data quality and sharing standards to support efficient, standardized, and transparent GHG emissions accounting [49]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - App-based mobility services are integral to urban transport systems in Southeast Asia, enhancing the efficiency and quality of existing paratransit services [20][24] - The regulatory landscape for app-based mobility varies significantly across ASEAN member states, necessitating a balance between innovation and market regulation [21][22] - The report emphasizes the need for regulatory frameworks that support the integration of app-based services with public transport and address market failures [23][24] Summary by Sections Executive Summary - App-based mobility services have become essential in urban transport, improving existing services and addressing public dissatisfaction with traditional transport options [20] - The report identifies a diverse regulatory landscape across ASEAN countries, highlighting the need for tailored governance approaches [21] - Recommendations include creating a permissive regulatory environment, ensuring equal treatment for all transport providers, and establishing data-sharing frameworks [25][26] Introduction - The report aims to review regulatory frameworks for app-based mobility in Bangkok, Manila, and Phnom Penh, providing insights applicable to other urban centers [29][30] Overview of App-Based Mobility in Southeast Asia - The region has seen rapid urbanization and economic growth, leading to increased demand for app-based mobility services [32][34] - The rise of digital technologies has facilitated the growth of app-based services, with significant market players like Grab and Gojek emerging [37][39] Determinants of Growth for App-Based Mobility - Urban population growth, strained public transport, and rising incomes have driven the adoption of app-based mobility services [37][38] - The report notes that the majority of growth has occurred in the ride-hailing market, with significant user engagement and market valuations for leading companies [38][39] Benefits and Challenges of App-Based Mobility - App-based services offer numerous benefits, including improved consumer welfare, job creation, and enhanced urban accessibility [40] - Challenges include equity concerns, data protection issues, and road safety risks associated with increased motorcycle usage [41][44] Recommendations - The report suggests strengthening regulatory enforcement, setting minimum employment protections for drivers, and streamlining governance across agencies [24][27] - It emphasizes the importance of addressing market failures related to transport emissions, congestion, and safety through targeted regulations [27][28]