(MENAFN- 3BL media Inc) June 16, 2023 /3BL Media/ - Dozens of major U.S. companies and investors are urging the Environmental Protection Agency to finalize strong multi-pollutant emissions standards for light- and medium-duty vehicles and stringent greenhouse gas emissions for heavy-duty vehicles.
In a letter submitted today to the epa , 60 leading companies and investors made the case that strong vehicle emission standards are critical to achieve national climate and economic goals. The signatories underscored the growing number of companies committed to transitioning to zero-emission cars, vans, and trucks to reduce their fuel and maintenance costs. They also emphasized the need for strong standards to set clear market expectations, meet demand, and ensure fleet operators can benefit from federal and state incentives.
Signatories of the letter included Avocado Green Brands , Enel North America , Friends Fiduciary Corporation , Hackensack Meridian Health , IKEA , Lion Electric , Lucid , New Belgium Brewing , Nestlé , Sierra Nevada Brewing , Snowsports Industries of America , Workhorse , and Zevin Asset Management , among others.
“Transportation is the largest source of [greenhouse gas] emissions in the U.S. and represents a substantial component of our companies' and portfolios' carbon footprint. By enacting strong vehicle emissions standards that require vehicle manufacturers to produce increasingly efficient and clean vehicles and drive the electrification of the sector, EPA will help ensure the availability of the vehicles needed by companies to cut operating costs, reduce emissions consistent with our climate goals, and support healthy communities for our customers and employees,” the signatories wrote in the letter.
The EPA's proposed light- and medium-duty vehicle emissions standards would spur electric vehicle production and sales by effectively ensuring that zero-emission vehicles account for as much as two-thirds of new vehicle sales by 2032. The EPA also proposed new greenhouse gas emissions standards for heavy-duty vehicles, such as large trucks, that would help meet the growing market demand for zero-emission commercial vehicles . In the letter, businesses urged the EPA to finalize the strongest proposed standards and specifically called for a heavy-duty standard that supports at least 50% zero-emission vehicle sales by 2032-a target that is consistent with state regulations, including California's Advanced Clean Trucks Rule, as well as manufacturer commitments and federal funding from the Inflation Reduction Act.
Dozens of other companies also offered their support for strong vehicle emissions standards. The ceres bicep network , a coalition of more than 85 leading U.S. businesses that collectively advocate for just environmental policies, called on the epa to adopt vehicle standards to spur the transition to zero emission trucks at the pace and scale necessary to meet the 2030 and 2050 U.S. climate commitments. The corporate electric vehicle alliance , a coalition of 32 major U.S. businesses organized by Ceres to accelerate commercial electric vehicle deployment, also submitted a letter urging the EPA to align all vehicle standards with U.S. climate and public health goals to ensure a diverse supply of cost-competitive zero emission vehicles to meet long-term corporate demand.
Many of these companies are committed to improving the health of the communities in which they operate and where their employees live. While passenger vehicles represent the single largest source of transportation emissions, medium- and heavy-duty vehicles have an outsized impact, accounting for more than 20% of transportation-related emissions despite representing about 5% of vehicles on U.S. roads. Rapid growth in zero-emission vehicle sales would dramatically reduce both greenhouse gas emissions that cause climate change and harmful air pollution that especially affects communities located near highways, busy roads, and major freight centers.
The letter was organized by Ceres, CALSTART, Zero Emission Transportation Association, Climate Group, Climate Collaborative, and B Lab.
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.