Carmakers are significantly underreporting lifetime (Scope 3) emissions
Asset managers are faced with the double challenge of decarbonising their portfolios and mainstreaming sustainability frameworks, such as the environment, social, and corporate governance rating, ESG. But do they have the right tools?
In 2023, the EU will introduce a requirement that financial institutions disclose their scope 3 emissions (indirect emissions). The new requirement will hit asset managers with exposure to carmakers hard. Unlike manufacturers of furniture or mobile phones, the vast majority (98%) of a car company’s emissions come under scope 3 – primarily the use of the cars.
The report finds that not only are carmakers’ official emissions set to explode, but that carmakers are significantly underreporting their Scope 3 emissions in what could represent another scandal for the industry.
In many markets European carmakers are falling behind Chinese EV manufacturers as they have little to offer to aspiring drivers in the Global South ri...
Leasing companies lack a credible climate strategy
Europe’s leasing companies have made little to no meaningful climate commitments, despite their growing influence and key role in decarbonising the au...
Recycled steel targets will help clean up car production, strengthen Europe's domestic industry and reduce our dependence on imports.