#ev_futureCarmakers’ Lifetime Emissions 50% Higher Than Reported - CleanTechnicahttps://cleantechnica.com/2022/09/29/carmakers-lifetime-emissions-50-higher-than-reported/Carmakers’ global emissions are on average 50% higher than what they report with Hyundai-Kia and BMW under-reporting emissions by as much as 115% and 80% respectively, a new Transport & Environment (T&E) report shows. With obligatory scope 3 (lifetime) emissions disclosure set to be introduced in 2023, asset managers with exposure to carbon intensive carmakers face a ‘ticking carbon bomb’, says T&E.
In 2023, the EU will introduce a requirement that financial institutions disclose their scope 3 emissions (indirect emissions)[1]. The new requirement will hit asset managers with exposure to carmakers hard. Unlike manufacturers of furniture or mobile phones, the vast majority (98%) of a car company’s emissions come under scope 3 – primarily the use of the cars [2].
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Carmakers base their total reported emissions on a number of factors such as the average size of the vehicles, where the cars are driven and the lifespan of vehicles. Carmakers on the whole have used selective data to reach a lower figure. Toyota, for example, bases the lifetime average emissions of its vehicles on a scarcely believable 100,000 kilometres.