Tech Sector Leads Sustainability Standings in Vehicle Industry Once More
European Industries Embrace Electrification: 2023 Fleet Sustainability Ranking Reveals Progress
The European fleet industry is making significant strides towards a more sustainable future, as revealed in the 2023 Industry Fleet Sustainability Ranking. The ranking, which evaluates the CO2 emissions of various industries, has shown a notable decrease in emissions across sectors.
Leading the pack is the Technology industry, which has managed to lower its average CO2 emissions from 110 grams/km in 2020 to 83 grams/km in 2022. This industry also boasts the lowest share of diesel vehicles and the second-highest share of battery electric, hybrid, and plug-in hybrid vehicles. The Technology industry is, therefore, the most sustainable industry according to the ranking.
Following closely is the Financial & Professional Services industry, which ranks second, demonstrating a decrease in emissions from 117.6 grams/km in 2020 to 102.2 grams/km in 2022.
The Healthcare & Pharma industry has also shown a decrease in emissions, lowering them from 117.6 grams/km in 2020 to 102.2 grams/km in 2022, placing it third in the ranking.
The Automotive industry ranks fifth, with a significant increase in the share of battery electric vehicles over the past two years. However, the transition to low and zero-emission vehicles is a slow process, as shown by the more modest increase in plug-in hybrids and hybrids across sectors.
The Energy & Chemicals industry ranks third, a testament to the industry's efforts to reduce its carbon footprint.
Organizations own around 50% of vehicles on European roads today, and their adoption of sustainable practices is crucial in the collective effort to reduce CO2 emissions. The latest Fleet Sustainability Ranking encourages this adoption, highlighting the success stories of companies like Arval. Arval, a significant player in the EU fleet market, has significantly developed its fleet to include battery-electric vehicles and has partnered with BYD to support electrification in markets like Germany, Italy, and Spain.
The transition to low and zero-emission vehicles is not just a trend, but a significant way for companies to reduce their CO2 emissions. As battery electric vehicles become increasingly cost-competitive with internal combustion engine vehicles, it is expected that local legislation will evolve, potentially phasing out subsidies for BEVs.
The EU regulations are expected to continue the fleet electrification trend with the anticipated introduction of the EURO 7 regulations in 2025. These regulations aim to bridge the gap between theoretical and real-world driving emissions, potentially affecting plug-in hybrids the most. As the regulations evolve, it is likely that we will see even more industries embracing electrification.
Road transport accounts for approximately 20% of CO2 emissions in the European Union. The progress made by the industries in the Fleet Sustainability Ranking is, therefore, a promising step towards a more sustainable future for Europe. Norway, which leads by example with new car sales witnessing a higher prevalence of BEVs over ICE vehicles, is a shining example of what can be achieved with a commitment to sustainability.
The transition to a more sustainable fleet is not just beneficial for the environment, but also for the industries themselves. By adopting sustainable practices, companies can reduce their operational costs, improve their brand image, and contribute to a healthier planet. The 2023 Industry Fleet Sustainability Ranking is a testament to the strides made by European industries towards a more sustainable future and serves as a call to action for others to follow suit.
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