T&E's response to the European Commission proposal on new car CO2 targets.
Tackling fuel consumption and CO2 emissions of new cars is the single most effective policy measure the EU can take to simultaneously address climate change, reduce dependence on oil, spur investment in low-carbon car technologies in Europe and elsewhere, and lower energy bills for European citizens.
We welcome the European Commission’s proposal to set binding fleet average CO2 standards for new cars sold in Europe, following the failure of the decade-old voluntary industry commitment. However, the proposal has some serious shortcomings that must be addressed.
Europe must stand firm over its future targets for carmakers as it cannot afford to fall further behind China.
The decision to create a Europe-wide carbon price was right but creates significant political risk. The good news is it can still be fixed.
It's about time the EU requires parts of key products to be made locally – and nowhere is this more urgent than in the battery sector.