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ESG Watch: COP29 leaves electric vehicle industry stuck in the slow lane

^{Published on 2024-12-18 06:00:48 - Reuters}
 

• Road vehicles are responsible for 15% of global energy-related emissions, and a crucial piece of the decarbonisation puzzle. You would expect them to be front and centre of the COP U.N. climate conference process.

The article from Reuters discusses the challenges facing the electric vehicle (EV) industry as highlighted at COP29. Despite the global push towards reducing carbon emissions, the EV sector is experiencing a slowdown due to several factors. High interest rates are making car loans more expensive, reducing consumer demand for EVs. Additionally, there's a noticeable lack of charging infrastructure, which continues to be a significant barrier to EV adoption. The article also mentions that while there is a strong commitment from governments and companies to transition to electric vehicles, the actual pace of this transition is lagging. This is further complicated by political and economic uncertainties, including potential changes in government policies and subsidies. The EV industry is thus caught in a slow lane, with manufacturers and policymakers needing to address these issues to meet climate goals effectively.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/climate-energy/esg-watch-cop29-leaves-electric-vehicle-industry-stuck-slow-lane-2024-12-18/ ]

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