Electric carmakers Polestar and Rivian have commissioned a report that indicates that the car industry is set to overshoot emissions targets by 75 percent in 2050
GOTHENBURG, SWEDEN
Electric carmakers Polestar and Rivian have collaborated on a report which indicates that the automotive industry is set to overshoot the Intergovernmental Panel on Climate Change (IPCC)’s 1.5 degree target by at least 75 percent by 2050. The report, dubbed the Pathway Report, was initiated by Polestar and Rivian in response to the climate crisis, and was conducted by global management consulting firm Kearney.
The IPCC’s 1.5 degree target calls for governments and corporations to limit global warming to 1.5 degrees Celsius by 2050, by cutting down significantly on greenhouse gases, with a target of a 43 percent reduction worldwide by 2030. According the Pathway Report, passenger vehicle currently account for 15 percent of all greenhouse gases globally, and the automotive industry is extremely off track in meeting its targets.
However, the report states that the industry can still take drastic measures to get back on track to meet its targets. These include increasing renewable energy in power grids to power electric vehicles of the future, as well as reducing greenhouse gas emissions in the manufacturing supply chain. The report also calls for an acceleration in the transition to full battery electric vehicles (EVs), and move away from fossil fuel-powered vehicles as soon as possible.
Polestar and Rivian stated that they have shared the report with several of the world’s leading car makers, and initiated a roundtable discussion to discuss areas of collective action. The aim is to find a path towards unprecedented, relevant and collective climate action for the car industry.
Fredrika Klarén, Polestar Head of Sustainability, says: “Car companies may be on different paths when it comes to brand, design, and business strategies, and some won’t even admit that the road to the future is electric. I believe it is, and that the climate crisis is a shared responsibility, and we must look beyond tailpipe emissions. This report makes clear the importance of acting now and together. There’s a clear cost to inaction, but there’s also a financial opportunity for innovators who find new answers to the challenges we face.”
The full report can be read here.
Keyword: Automotive industry set to overshoot emissions target by over 75 percent: Polestar and Rivian