BMW Ranks First, Subaru Rated Worst in Survey by Climate LobbyBy and
Environment advocacy ranked carmakers on emissions, fuels
BMW, Daimler, Toyota get Carbon Disclosure Project top grades
As automakers pour billions of dollars into preparing for electric vehicles and stricter emission controls, among other changes in the industry, an environmental lobby has handed out progress reports.
The Carbon Disclosure Project ranked responses from 16 manufacturers on three main issues:
- Progress towards meeting emissions standards
- Strategies on using self-driving technology and renewable energies
- Management incentives to lower carbon emissions
Carmakers are facing increasing costs to comply with stricter emission regulations. The CDP expects these will rise three-fold by 2025 to more than $2,200 to outfit each vehicle with carbon dioxide caps. In Europe, where new emissions rules are set to take effect in 2021, half of the companies surveyed by the group could face fines. Fiat Chrysler Automobiles NV is the most at risk and may have to pay a penalty of 938 million euros ($1.1 billion), it said.
General Motors Co. stands out as one of the most ambitious when it comes to setting targets for automation, ride-sharing and electrification, followed by Volkswagen AG and BMW, according to the study. Yet carmakers’ spending on research and development, which is 4.6 percent of sales on average -- relatively high compared to most other sectors --- lags behind tech companies entering the market such as Google Inc., Apple Inc., Baidu Inc. and Uber Inc., it said.