On June 12, Beijing time, according to foreign media manufacturing reports, the latest report shows that the global automobile industry has not yet reached the standards set by the comprehensive international climate agreement - Paris climate agreement, which requires significant changes in their current production plans.
This analysis is from the 2 ° investing initiative, a sustainable finance group, and climate change, an institutional investor group.
Through their research, the two organizations found that the production plans of the world's 14 largest automobile manufacturers were not fully in line with the Paris climate agreement in 2016. The agreement aims to prevent global temperatures from rising by more than 2 degrees Celsius over the next 30 years.
The study examined the manufacturers' plans for electric, hybrid and internal combustion vehicles, as well as the IEA's projections for emissions and climate.
Of the 14 automakers studied, only Daimler, Ford, Geely, Peugeot and Volkswagen are "partially consistent" in producing enough electric vehicles to achieve the goal of significantly lower or lower than 2 degrees of warming.
It is worth mentioning that Geely has also crossed the minimum threshold in achieving the Paris climate agreement goals in the field of internal combustion engine vehicle production.
The report also points out that if the production planning to 2024 needs to be adjusted to meet the Paris climate agreement targets, it means that the 14 companies will need to reduce the production of 43 million traditional gasoline powered vehicles and 1.5 billion tons of carbon dioxide emissions.
In addition, they need to produce 20 million hybrid cars and nearly 9 million electric vehicles.
"There is no doubt that none of the world's major auto makers are responding to this challenge with the urgency they should have," Simon mighte, head of the 2 ° investing initiative, said in a statement
According to Reuters, analysts are calling on investors to seek a commitment from these companies to achieve zero carbon emissions by 2050, as well as to increase transparency in the car manufacturers' production plans and lobbying activities. The report also recommends that compensation for car executives should be linked to meeting climate targets.