Transport and logistics companies see the transition towards a low-carbon future as key to the future of their businesses. As regulators, consumers, investors, and supply chain partners step up their efforts to combat climate change, these firms are making decarbonisation a top priority.
In its second instalment of the HSBC Transition Pathways series, which looks at business sentiment and the decarbonisation of industries, HSBC worked with Kantar to ask over 300 transportation and logistics companies in the air, maritime, road (automakers were not included), rail and logistics sectors, across 16 markets, how they are steering their businesses towards net zero (see methodology below).
Following a similar analysis of the energy sector, this new survey provides insight into the drivers and roadblocks facing transport and logistics businesses as they decarbonise. It also reveals how transport companies are thinking about net zero targets, capex expenditure and wider enablers such as finance and partnerships.
The survey shows that a significant majority of transport companies see a strong business case for transitioning to net zero. In fact, the bulk of respondents believe reducing emissions is integral to achieving their business goals and almost nine in 10 (88%) say net zero is important to commercial growth.
A more granular look reveals that decarbonisation is top of mind for many companies, even where the transition pathway remains less clear. Nine in 10 companies in the air and maritime sectors say net zero is one of their top three business priorities – compared to around three out of four in the road, rail, and logistics sectors.
The findings also show that net zero is commercially more important to companies that carry both passengers and freight, with 38% listing it as their top priority – compared to 27% of companies that deal with freight alone.