The Biden administration’s executive actions on proposed clean car standards announced today “are important first steps, but stronger standards that are aligned with the Paris Agreement goals will be critical if we want to enhance the global competitiveness of the U.S. auto industry, maximize cost savings for consumers and businesses, and help stabilize the climate,” Carol Lee Rawn, senior director of transportation at Ceres said in a statement.Â
Among the actions was an Executive Order that set a target to make half of all new vehicles sold by 2030 clean vehicles, and the Biden administration also made a laudable commitment to reduce auto emissions by 60% by 2030. The White House also released a set of supportive statements from automakers including one from United Auto Workers which also welcomed the executive order, and automakers who expressed support for 40-50% clean vehicle sales by 2030.
“The Biden administration took quick action today to strengthen U.S. clean car standards,” Rawn added. “However, looking ahead to the next set of passenger vehicle standards, anything short of regulations ensuring a 60% reduction in emissions by 2030, and a clear trajectory to 100% electric vehicle sales by 2035 at the absolute latest, would represent an enormous missed opportunity.”
Major investors, as well companies, including those in the Ceres BICEP Network and the Corporate Electric Vehicle Alliance, have consistently supported strong efficiency and emissions standards that ensure requisite emission reductions from conventional vehicles and put us on the road to 100% zero-emission vehicle sales by 2035. In April, the two networks sent letters to the Biden administration calling for standards aligned with climate science that ensure 100% EV sales by 2035. Investors have also actively advocated for strong standards.
"In my role as investment adviser to NYC's pension funds, with a history of engaging directly with major U.S. automakers, I strongly urge the Administration to adopt standards that ensure necessary reductions in vehicle emissions while also ensuring that automakers are on a trajectory to ensure 100% EV sales by 2035,” said New York City Comptroller Scott M. Stringer. “Strong standards are necessary to mitigate climate risk, and will also enhance the global competitiveness of the U.S. auto industry as other major auto markets move to clean transportation and electrification."Â
About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.