Transport & amp; Environment returns to point the finger against car manufacturers . In particular, for the organization, the emissions declared by manufacturers over the entire life cycle of cars they are the result of calculations based on data that are not very credible. Indeed, according to a study by Transport & amp; Environment and Legambiente, accurate life cycle estimates provide far more figures; high. According to the study, BMW, Hyundai-Kia and Stellantis would be among the worst: in fact, they would declare less than half & agrave; of their global emissions.
These data, the study highlights, represent a real & ldquo; climate time bomb & rdquo; for investment funds and companies financial exposures on the sector which, according to the EU rules that will come into force in 2023, will have to disclose their indirect emissions, that is; those associated with the total emissions in the life cycle of the products sold by the companies in the portfolio. Luca Bonaccorsi , Director of the Sustainable Finance division of T & amp; E. commented:
So that & eacute; green investments are credible they need to be backed up by accurate data. Car manufacturers are misleading investors by underestimating the emissions produced over the life cycle of their cars. And the rating agencies provide meaningless ESG scores. Investors will soon realize this and will have to take action.
THE ACCUSATIONS
By entering more; in detail, Transport & amp; Environment says that the total emissions disclosed by the car manufacturers are the result of a calculation which takes into account a number of factors such as the average size of vehicles, where they are driven and the length of their life cycle. However, according to the organization, the data is collected according to selective and questionable criteria which are aimed at determining larger numbers; bass. For example, the organization says, BMW estimates the average emissions of its vehicles assuming that they no longer drive. of 150,000 km over the course of their life. For Transport & amp; Environment is a data that does not correspond to the truth.
So, how much more are they? high emissions estimated compared to those declared? The graphic made by the organization speaks very clearly.
Andrea Poggio , Head of Mobility & agrave; Sustainable by Legambiente, commented:
Stellantis & egrave; one of the worst homes for global impact for each car produced (62 tons of CO2), due to the many, too many off-road vehicles sold especially in America. These are large and heavy cars that produce dozens of times their weight in exhaust gases that pollute health and the climate in their lifetime. The future is mobility collective electric and light electric vehicles such as e-bikes and quadricycles.
< p>The study also reveals that from a purely financial point of view, in some cases car manufacturers have a carbon footprint almost equal to that of the oil industry.
According to the company's estimates. US financial company Morningstar, by the end of 2022 approximately 50% of all new financial products sold on the market will be based on ESG criteria, that is environmental, social and governance. However, these criteria fail to fully capture the real climate impact of companies. Despite being the most environmental indicators important, in fact, CO2 emissions represent less than 1% of the ESG rating of securities present in two of the main stock market indices in the world: S & amp; P and MSCI.
For this reason , the organization asks the European Union to regulate and harmonize the methodology for calculating the rating itself, thus ensuring; a coherent and transparent communication of data.
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