Tesla Well-Positioned to Earn EU Green Investment Label as EU Commission Seeks to Advance Emission Goals

Eva Fox by Eva Fox November 16, 2020

Tesla Well-Positioned to Earn EU Green Investment Label as EU Commission Seeks to Advance Emission Goals

Image: Devron Developments

The EU Commission wants the Euro-7 emission standard to take effect across the EU starting in 2025, making this a fateful year for automakers. An expert committee with scientists from all over Europe--Advisory Group on Vehicle Emission Standards--has submitted a study to the EU Commission that calls for significantly stricter emission standards than previously expected, Tesmanian reported yesterday.

According to the project, which the European Commission is expected to present in the coming weeks, cars will also have to emit less than 50 gCO2/km in order to reach the desired threshold and be considered environmentally friendly.

Having determined which emission threshold is considered green, the EU hopes that private funding will go to electric vehicles and accelerate the transition to clean mobility, EurActiv reports. The move also aims to provide investors with clear guidance on what is green and what is not.

“It will steer the money, not in a prescriptive way, but it will classify sustainable cars unequivocally and universally,” said Luca Bonaccorsi, from green NGO Transport and Environment. “If you have a green fund and you want to invest in cars, you need to invest in zero-emissions cars,” Bonaccorsi said. “At the moment if an investor wants to invest in electric vehicles, there’s only one share to buy--Tesla,” he continued.

“The impact of the taxonomy will be pervasive,” said Bonaccorsi, stressing he was 100% sure that clear rules on green finance will have a tangible impact on--and drive--private funding towards zero-emission cars.

© 2020, Eva Fox. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter





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