European climate group says EU needs tougher truck CO2 targets

Stock Markets50 minutes ago (Oct 10, 2021 06:20PM ET)

(C) Reuters. FILE PHOTO: Trucks are seen stuck in traffic after a heavy snowfall, in highway A5 near Fulda, Germany, February 8, 2021. REUTERS/Kai Pfaffenbach

By Nick Carey

(Reuters) – The European Union needs to dramatically toughen up CO2 targets for truckmakers to spur a shift to zero-emission models as current goals do not provide the incentive to do so, European campaign group Transport and Environment (T&E) said on Monday.

In a study entitled “Easy Ride: why the EU truck CO2 targets are unfit for the 2020s,” the climate group found that improvements in aerodynamics and fuel efficiency meant that truckmakers are able to meet the EU’s 2025 CO2 targets while only having to make only a few zero-emission long-haul trucks.

The study also found that most truckmakers have already made voluntary commitments for electric vehicle sales that go beyond EU requirements.

“Truckmakers are clearly able to decarbonise quicker,” T&E’s acting freight director Lucien Mathieu said in a statement. “It’s time to make them.”

Under current EU rules, truckmakers have a voluntary target for zero-emission vehicles to make up 2% of sales from 2025 onwards. The EU is expected to revise that target.

Based on truckmaker’s voluntary commitments, T&E estimates zero-emission trucks will make up 7% of sales in 2025 and 43% in 2030.

T&E said this shows the EU can set a realistic “but more ambitious” target that at least 30% of sales should be zero-emission trucks by 2028.

The study also found that Swedish truckmaker Scania, part of Volkswagen AG (OTC:VWAGY)’s commercial vehicle arm Traton SE, is a market leader: with CO2 emissions 5.3% lower below the average for the most common type of long-haul truck thanks largely to aerodynamics.

Renault (PA:RENA) and Iveco, the truck and bus business of Italian-American CNH Industrial (NYSE:CNHI), are both laggards, T&E said, with emissions 2.6% and 2.4% above the average respectively.

European climate group says EU needs tougher truck CO2 targets

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Stories

Enjoying my content?

Join the exclusive subscription today and get premium articles for free

Discover

Missionary group confirms kidnapping of 16 Americans, one Canadian

World17 minutes ago (Oct 17, 2021 04:50PM ET) 2/2 (C) Reuters. FILE PHOTO: A sign marks...

Gangs expand territory as Haiti government struggles to stay...

World17 minutes ago (Oct 17, 2021 03:50PM ET) (C) Reuters. FILE PHOTO: A general view...

A Sinister Six Movie Should Copy Spider-Man: No Way...

Sony's upcoming Sinister Six movie should take some inspiration from Spider-Man: No Way Home...

Masked Singer: Artist Who Was Cupcake Dishes on Unmasking

The celebrity formerly known as Cupcake on The Masked Singer opened up about competing...

Venezuelan opposition urges government to resume suspended talks

World8 minutes ago (Oct 17, 2021 03:00PM ET) 2/2 (C) Reuters. Gerardo Blyde Perez of Venezuela's...

U.S. Coast Guard boards ship in connection with California...

Commodities23 minutes ago (Oct 17, 2021 02:45PM ET) (C) Reuters. FILE PHOTO: Workers rake up...

Popular Categories