Closing the Loop: Profitable Transport Decarbonisation Without Subsidies

In this keynote report, UBS’s Vijay Pattabhiraman outlines a pragmatic investment approach to transport decarbonisation, emphasizing economically viable strategies that avoid dependency on government subsidies.

• Closed transport systems (e.g. airports, last-mile delivery) offer high asset utilisation and predictable demand—key for cost-effective emissions reduction.

• Battery-electric solutions are most profitable where usage is intensive, enabling decarbonisation driven by physics and operational savings.

• Returns are based on cash flow, not exit multiples, offering resilience in a cautious fundraising environment and independence from shifting policy landscapes.

Explore the full report to understand how data-driven infrastructure strategies can unlock real yield and real-world impact across the $8 trillion transport market.