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電動車與ESG投資的前途

September 20, 2023


Source link: Corphub ( https://shorturl.at/afpq9 )

電動車是每個國家履行氣候變遷使命的基礎。香港計劃在2050年實現碳中和,投資者必須對這一不可避免的轉變保持警惕。


這些車輛沒有內燃機,從而減少了整體碳足跡,使它們更加環保,並成為未來汽車的清潔領跑者。2022年全球EV市場規模為3,846.5億美元,預計2023年將達到5,004.8億美元。預計到2030年該產業價值將達到15791.0億美元,預測複合年增長率為17.8%。

環境展望

一般私家車輛每年排放4.6公噸二氧化碳,而香港約有100萬輛汽車,整體每年約460萬噸二氧化碳(約46億公斤)。 而一般汽車的重量約為2公噸計算,香港每年產生的二氧化碳量相當於2,300,000輛汽車的重量,是道路上車輛數量的兩倍多! 全球排放量的四分之一均來自交通運輸業,因此香港必須作出一些改變,才能實現其氣候目標。個人層面使用電動車是為環境做出貢獻的一種方式。


2008年香港按類別之溫室氣體排放(來源:機電工程署)


社會觀點

從社會角度來看,在香港廣泛採用電動車將大大提高市民的生活品質。根據世界空氣品質指數的統計,香港在全球空氣污染最嚴重的城市中排名第 68 位。此空氣品質對呼吸系統敏感的人群並不健康,亦可導致急性和慢性疾病。截至目前,香港已有4,700人死於空氣污染,並令政府損失達22億美元。空氣污染會加劇氣喘,增加心肺疾病死亡的風險,並嚴重損害肺部功能。污染物每增加 10 微克/立方米,該些健康風險就會增加2%至3%。空氣污染造成的生命損失一個都嫌多,這些健康風險亦提醒我們必須關心人類與地球的未來。

政府措施

香港對氣候變化非常重視,截至2023年7月,運輸署批准了243款電動車車型,是2021年獲批型號數量的兩倍。與燃料引擎相比,電動引擎的長期成本效益說明為什麼許多香港車主應該考慮改用電動車:一來電動引擎的移動部件比燃料引擎少,意味著需要維修的機會亦較大。二來香港的汽油價格屬全球最高,撰文時為91港元,並會隨著市場趨勢不斷波動。價格波幅可以非常龐大,例如2023年6月5日,汽油價格為每美加侖87.97港元,換言之在3個月內油價已上升超過3港元。相反,電價更實惠且穩定,是駕駛電動車的優勢。


香港政府現正提供財政措施,鼓勵市民添置電動車,包括首次登記稅寬減及一換一計畫已延長至2024年3月31日。電動私家車的首次登記稅將繼續獲豁免,最高可達港幣97,500元。由2021年2月24日至2024年3月31日,一換一計劃下,首次登記稅寬減上限由先前的25萬港元提高至287,500元。配套方面,香港政府計劃於2025年或之前把充電站數量增至155,000個,以滿足該產業的預期成長。

電動車對投資者的重要性

投資電動車將會為投資者提供獨特的機會,對環境產生良好的影響,並在未來五年內獲得豐厚的回報。隨著ESG投資越來越熾熱,電動車會是一個安全的投資選擇:電動車行業領導者每年都會生產壽命更長的電池,並以更實惠的價格出售,可以預期電動車的普及率將會繼續上升。


在製造方面,電動車製造商應提高數據透明度,以便投資者在繼續建立投資組合時進行詳盡的分析。舉例而言,電動車電池的運輸成本構成整個產業鏈的額外環境成本,最後生產比燃料汽車更高的碳足跡。2021年一項比較電動車和汽車排放量的研究發現,電動車碳排放的46%來自生產過程,而對於一般汽車來說,生產過程「僅」佔碳排放的26%。

電動車的潛在缺點

香港目前的電動車數量和充電站數量仍存在巨大差距,比例大約是10比1。車主固然希望充電站數目比電動車為多,但在香港有限的空間內,這會非常困難。香港政府正計劃透過大幅增建充電站來解決這個差距。另外,生產電池和電動引擎令電動車生產鏈的碳足跡比一般燃料車輛多約兩倍,每生產一顆電動車電池需使用約100公斤於剛果開採的原料,過程中每年產生150萬噸二氧化碳。 許多電動車公司正在大力投資開發新的電池技術來解決這個問題。

結論

地球經已受到傷害,現在我們必須邁向未來,有意識地進行有助延長地球壽命的投資。現在是人類明智地消費、並對我們所做的選擇負責的時候了。對許多人來說,轉用電動車是保護地球的第一步;電動車不僅是為使用而使用,也是為了下一代的福祉,並期望他們也會做出正確的選擇。


本文由THINK ESG LIMITED ESG研究實習員Aaron Turnquest撰寫。


【英文原文】


Electric vehicles (EVs) are fundamental to every country’s mission to fight climate change. As Hong Kong plans to be carbon neutral by 2050, investors must be vigilant in anticipation of an inevitable shift. For those who are unaware, an electric vehicle is a vehicle that can be powered by an electric motor that draws electricity from a battery and is capable of being charged from an external source.


These vehicles have no combustion engine, which reduces the driver’s overall carbon footprint. This makes them naturally better for the environment and the clean front runner for the car of the future. The global EV market size was valued at USD 384.65 billion in 2022 and is expected to be worth USD 500.48 billion in 2023. The industry is projected to be valued at USD 1,579.10 billion by 2030, recording a compound annual growth rate of 17.8% during the forecast period.


Environmental Perspective

The typical passenger vehicle emits 4.6 metric tons of CO2 per year, with there being about 1 million vehicles in Hong Kong; there are about 4.6 million metric tons (about 4.6 billion kilograms) of CO2 produced by vehicles in Hong Kong. For example, the average car weighs about 2 tonnes, so this tells us that the amount of CO2 produced in Hong Kong weighs the same as 2,300,000 cars, which is more than double the number of vehicles on the road! A quarter of global emissions come from the transportation industry, so it is clear that something must change for Hong Kong to reach its climate goals. The personal adoption of EVs are an individual’s way of making a difference for the environment.


Social Perspective

From a social perspective, adopting EVs in Hong Kong will drastically improve the quality of life for citizens. Hong Kong has an air pollution problem that ranks 68th among the world’s most polluted cities in terms of air pollution according to the World Air Quality Index at the time of this article being written. This makes it unhealthy for sensitive groups of people and can cause acute and chronic diseases. In Hong Kong, there have been 4,700 deaths so far, costing the government 2.2 billion USD.


Air pollution exacerbates asthma, raises the risks of cardio-respiratory deaths and greatly impairs the function of the lungs. These risks are increased by 2 to 3 percent for every rise of 10 µg/m³ of pollutants. The loss of one life to air pollution is too many, and it reminds us why we must be intentional about our future on this planet.


Governance

Hong Kong is taking this climate emergence very seriously, and as of July 2023 there are 243 approved EV modals by the department of transport which is double the amount that were approved in 2021. Long-term cost effectiveness of electric engines compared to internal combustion engines shows why many car owners in Hong Kong should consider switching to electric vehicles.


EVs typically require less maintenance than vehicles with internal combustion engines. The electric motors that propel EVs have fewer moving parts than gas engines. Having fewer components means they need minimal maintenance.


The gasoline prices in Hong Kong are the highest in the world with it being $91 HKD as of this article being written, and fluctuating constantly with the trends of the market. These fluctuations are evident as on 5 June 2023 the price of gas was 87.97 HKD per US gallon. The electricity prices are far more affordable and consistent which is an advantage of EV’s.


The Hong Kong government is offering financial incentives to promote the use of EVs. The First Registration Tax (FRT) Concessions for Electric Vehicles and One-for-One Replacement Scheme have recently been extended to 31 March 2024.


The FRT for electric private vehicles will continue to be waived for up to HK$97,500. From 24 February 2021 to 31 March 2024, EV owners can enjoy a raised FRT concession cap of $287,500, an increase from the previous cap of HK$250,000, under the One-for-One Replacement Scheme.


With incentives like these the Hong Kong government is making it increasingly more attractive for the average person to get an EV. The Hong Kong government has a goal to achieve 155000 charging stations by 2025 to accommodate the expected growth of the industry.


Why it matters to investors

Investment into EVs gives investors the unique opportunity to have a good impact on the environment and have great returns over the next five years. With the implementation of ESG investing, EVs would appear to be a safe choice for investment as with every coming year the industry leaders produce cars with longer battery life at even more affordable prices the adoption of EVs will increase.


On the manufacturing side, EV manufacturers should enhance their data transparency in order to allow investors to conduct analysis as they continue to build their investment portfolios. The additional environmental cost of transporting these batteries results in a higher carbon footprint than ICE vehicles. A 2021 study comparing EV and ICE emissions found that 46% of EV carbon emissions come from the production process while for an ICE vehicle, they ‘only’ account for 26%.


Potential Cons

In Hong Kong there is still a massive disparity in the amount of current electric cars and the amount of charging stations, this is about 10 EVs to one charging station. As a car owner it would be ideal for you to have more charging stations than cars, but in Hong Kong’s limited space that could prove to be difficult.


The Hong Kong government is planning to solve this problem with a substantial increase in charging stations. An EV has roughly double the production footprint of a typical internal-combustion-engine (ICE) vehicle, this is mainly due to the production of the battery and the electric engine.


Ev batteries rely on about 100 Kg of raw materials that are mined in the Congo, which produces 1.5 million tonnes of CO2 a year. Many EV companies are investing heavily in developing new battery technologies to combat this issue.


Conclusion

The damage to the planet has been done and now we must move forward toward a future where we are intentional about investing in the longevity of our plant. It is time for us to use our money wisely and be accountable for the choices we make. EVs are the first step for many in a long road to making the right choices not just for use but for the future generation so that they too will make the right choice.


This article was written by Aaron Turnquest, ESG Research Intern at THINK ESG LIMITED.


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