Open letter to EU policymakers on vehicle emissions
118 investors with around €12 trillion of assets under management have called on EU policy-makers to tighten emissions testing procedures in order to enable investors to have the best information about the emissions performance of companies. In particular, the letter calls on EU policy-makers to:
1. Restore confidence into CO2 testing procedures by going beyond UNECE requirements for the Worldwide Harmonized Light Vehicles Test Procedures (WLTP) and by introducing real driving emission test procedures for CO2. This change should be phased in over time to become mandatory for new vehicles within a few years.
2. Introduce real driving emissions test procedure for non-CO2 pollutants as soon as possible and ensure these tests are robust and conformity factors are not overly generous.
3. Either strengthen requirements for national type approval authorities to conduct mandatory real driving emissions test procedures for non-CO2 pollutants, including random on-the-road testing, or establish an independent European type approval authority.
IIGCC investor letter on EU net zero emissions target