Nestle, Unilever, AB InBev Call For EU Laws on Zero-Emission Vehicles

Date : 11/28/2019 @ 2:26PM
Source : Dow Jones News
Stock : Nestle S.a. (PC) (NSRGY)
Quote : 104.97  0.18 (0.17%) @ 10:20PM
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Nestle, Unilever, AB InBev Call For EU Laws on Zero-Emission Vehicles

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By Dieter Holger

 

Nestle S.A. (NESN.EB), Anheuser-Busch InBev S.A. (ABI.BT) and Unilever PLC (ULVR.LN) signed a letter Thursday calling on European Commission President-elect Ursula von der Leyen to mandate that car makers sell zero-emission transport vehicles as part of her proposed European Green New Deal.

A group of 30 companies, industry groups and nonprofits said there should be a law requiring that auto makers sell a certain amount of zero-emission vans, urban and regional trucks in 2025 and 2030.

They also said the EU should create an investment fund that supports infrastructure to charge electric vans and trucks in Europe.

"The current supply in Europe is unfortunately nearly non-existent, forcing us to build our own vehicles or initiate own pilot projects," the letter said. "We now strongly believe that the European Green Deal is a unique opportunity for the new European Commission to overcome this lack of supply."

According to an estimate by the European Commission, it will cost as much as 575 billion euros ($633 billion) a year for 20 years--or around $12.5 trillion--for the 28-member states of bloc to reach their net zero emission goal of 2050. Ms. von der Leyen's proposed European Green New Deal would help the member states hit their targets through a combination of EU-wide investment and legislation.

European Commission spokespeople didn't immediately respond to a request for comment.

The letter cited data from the European Environment Agency that show transport is the only major sector on the continent where emissions have grown since 1990, accounting for 27% of the EU's total emissions.

Heavy duty vehicles accounted for 22% of road transport carbon-dioxide emissions in the EU, according to a calculation of country data reported to the UN. The EU projects that emissions from heavy duty vehicles could increase 17% between 2010 and 2050.

Germany's Daimler AG (DAI.XE), one of the world's largest truck makers, didn't welcome or criticize the letter when asked for comment.

"We have electric trucks in series production today and will continue to increase our offering across all major regions and segments," said Daimler spokesperson Florian Martens said.

Stef Cornelis, clean trucks manager at Transport & Environment, a research and advocacy group that signed the letter, said the newly appointed European Commission should incentivize clean transport and take the lead from other regions like California.

"Given the major brands and transport industry players signing this letter, it's clear the demand is there," he said.

 

Write to Dieter Holger at dieter.holger@wsj.com

 

(END) Dow Jones Newswires

November 28, 2019 09:11 ET (14:11 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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