M FoundationAsia Sustainability | Asia PacificInvestor Presentation - 2024 Outlook: Top Questions for 2024 Morgan Stanley Asia Limited+Tim Chan, CFAEquity Strategist Tim.Chan@morganstanley.com +852 3963-4568 Ehsernta FuEquity Strategist Ehsernta.Fu@morganstanley.com +852 3963-3711 Morgan Stanley MUFG Securities Co., Ltd.+Naruko KuboEquity Strategist Naruko.Kubo@morganstanleymufg.com +81 3 6836-8433 Morgan Stanley Australia Limited+Rob KohEquity Analyst Rob.Koh@morganstanley.com +61 3 9256-8932 Morgan Stanley & Co. LLCStephen C ByrdEquity Analyst Stephen.Byrd@morganstanley.com +1 212 761-3865 Laura SanchezEquity Analyst Laura.Sanchez@morganstanley.com Carolyn L CampbellStrategist Carolyn.Campbell@morganstanley.com +1 212 761-3748 Morgan Stanley & Co. International plc+Michael P CanfieldEquity Strategist Mike.Canfield@morganstanley.com +44 20 7425-1188 Morgan Stanley Australia Limited+Sarah V KerrResearch Associate Sarah.Kerr@morganstanley.com +61 2 9770-1583 Samantha R EdieResearch Associate Samantha.Edie@morganstanley.com +61 2 9770-1671 Morgan Stanley appreciates your support in the 2024 Institutional Investor All-Asia Research Team Survey. Request your ballot here. In our first report of 2024, we share our insights on eight key questions that we believe will shape ESG opportunities and risks across the Asia Pacific region in the coming year. Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision.For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report.+= Analysts employed by non-U.S. affiliates are not registered with FINRA, may not be associated persons of the member and may not be subject to FINRA restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. January 10, 2024 04:17 PM GMTM Foundation2M FoundationMorgan Stanley Research3Asia Sustainability OutlookM Foundation4M FoundationMorgan Stanley Research5Asia Sustainability: 2024 OutlookTop Questions for 2024M Foundation6Our 2024 Expectations on 8 Big Questions#Question / ThemeSummaryEnvironmental1Climate Adaptation and Resilience•Surge in interest in climate adaptation/resilience solution stocks to hedge physical risks •Other mainstream climate strategies mainly deal with transition risks and opportunities2Critical Mineral and Asia Energy TransitionTwo areas to watch•Development of alternatives (e.g. sodium-ion batteries in place of lithium-ion batteries)•ESG risks of critical minerals under EU Due Diligence Directive3Carbon Price in China•China Certified Emission Reduction (CCER) will drive short-term momentum •E...
