With COP28 underway, all eyes are on Dubai and whether world leaders can agree on a way forward to achieving our climate goals. While these discussions often happen at the highest levels, to mobilise the finance required, we need to take a sector-by-sector approach. In doing so, we can identify the distinct challenges that each sector faces, and work backwards from there to identify how to mobilise capital into decarbonisation.
One sector that does not receive enough attention as an investment opportunity is the heavy goods vehicle (HGV) industry. HGVs are among the UK’s most polluting vehicles, and despite making up just 1% of transport on the road, they account for around 20% of emissions — equivalent to the carbon footprint of domestic and international air travel, buses and domestic shipping combined. Electrifying the country’s half a million HGVs comes with an investment opportunity worth £100bn.
