Corporates have a small window of time to electrify their fleets and help prevent the worst effects of climate change, according to a just-published white paper, “Road to COP26: How corporate fleets can fight climate change,” by global fleet management company LeasePlan.
Released during Climate Week NYC 2021, the document issues a call to action for business leaders ahead of the 26th United Nations (UN) Climate Change Conference of the Parties (COP26) in November.
The report also highlights that the majority of new cars sold in Europe are company cars; while corporate fleets are today a significant contributor to transport emissions, their electrification would represent a giant step forward towards a net-zero world.
“Corporate leaders should take full responsibility to fight climate change, and switching to an electric fleet is one of easiest and most effective ways to make an impact,” said Tex Gunning, LeasePlan CEO. “If we can get a decent plan in place by the time COP26 starts in November, we will have a real chance to eliminate emissions from road transport and play our part in limiting global temperature rises to 1.5°C. We have a small window of time to prevent the worst effects of climate change, and we owe it to our children and grandchildren not to waste this opportunity.”
LeasePlan’s white paper notes:
- Six out of 10 cars sold in Europe are company cars, with petrol and diesel vehicles accounting for 96% of new company car registrations in 2019. In addition, company cars drive on average 2.25 times farther than private cars. Corporate fleets can therefore either disappointingly contribute to climate change or be a major part of the solution.
- Experts uniformly agree electrification provides the greatest benefits in terms of transport emissions reduction – especially if EVs are powered by sustainable sources, such as wind and solar.
- Emissions reductions from EV adoption are already measurable on a global scale. Since 2000, global transport emissions had been rising by 1.9% per year; but in 2019 they increased by less than 0.5%. The difference: improvements in efficiency, greater use of biofuels, and the increase in EVs.
- The latest climate science indicates that, to avoid the worst climate impacts, carbon emissions must be cut by 45% by 2030. However, UN analysis shows emissions could actually rise by 16%, leading to a temperature increase of 2.7°C above pre-industrial times, irreversibly and negatively impacting life on Earth.
LeasePlan has committed to achieving net zero emissions from its total funded fleet by 2030. LeasePlan is also a founding partner of The Climate Group’s EV100 initiative, a 2017 global initiative launched with the UN General Assembly to promote EV uptake among the world’s largest companies.
The LeasePlan report is available at leaseplan.com/corporate/news-and-media/newsroom/2021/20-09-2021.