Whitehelm Capital

Ready For Take Off - How Sustainable Aviation Fuel Will Propel Airlines to Net Zero

November 2021

In this article, we describe the key strategies outlined by the airline industry to reduce carbon emissions. We take a detailed look at sustainable aviation fuel (SAF), the technology slated to do much of the heavy lifting for airlines over the coming decades and the subject of recently announced tax incentives by the Biden Administration. We describe the regulatory changes and policy incentives implemented or under consideration in key jurisdictions. And of course, we consider the ramifications of the decarbonisation of the aviation industry for infrastructure investors.

Defensive Equities - When Defence is the Best Offence

October 2021

In uncertain times, investors looking for shelter may consider an allocation to defensive equities to shore up their portfolio. Listed infrastructure, listed property and low volatility strategies are all different ways to invest in defensive equities, all of which tend to provide investors with an income yield too.

This article considers the long-term risk and return profile for each of these three defensive equity thematics, including how each held up during the COVID-19 crisis as well as the investment outlook.

The Importance of Infrastructure in the Transition to Low Carbon - Part Three

October 2021

In this third and final part of the series we shift our focus more fully onto the investor, considering how markets are already changing in response to climate change, before reflecting on what concrete steps investors need to take in order to successfully navigate the infrastructure asset class.

The Importance of Infrastructure in the Transition to Low Carbon - Part Two

September 2021

In the first part of this three-part series, we looked at just how worrying the current situation for climate change is, emphasising that a serious, global, and coordinated effort is required urgently to avoid disaster. Infrastructure has a key role to play in this effort as a sector which is both due to be impacted by climate change and a major carbon emitter.

This second part of the series looks at the various costs and risks which the investor needs to carefully examine in order to successfully navigate the infrastructure asset class.

The Importance of Infrastructure in the Transition to Low Carbon - Part One

September 2021

From an investment perspective, infrastructure assets have many appealing characteristics. They provide investors with a solid yield and capital returns, underpinned by defensive and stable cash flows, as well as inflation protection and downside protection in negative markets.

This paper is a climate change tryptic and is a must-read for the infrastructure investor. Part One looks at why the climate change situation is so serious, and what role infrastructure can and must play in the transition to a more sustainable future.