“For green investing to be effective, we need accurate data,” said Luca Bonaccorsi, the director of sustainable finance at T&E. “Carmakers are trying to pull the wool over investors eyes by underreporting the lifetime emissions of their cars. This makes a mockery of carmakers’ green claims.”, per euro invested in them. At current market prices, oil giants emit 5,000 tonnes of CO2 equivalent per €1 million invested on average.
But that’s just an average. Some automakers actually emit significantly more tonnes of CO2 than the oil giants. The, for instance, emits nearly 10,000 tCO2e per million euros, and Honda, Ford, VW, Stellantis, and Hyundai all emit more than the average of BP, Shell, and Exxon. That’s a problem for automakers who want to remain viable for those interested in ethical investing. According to Morningstar, an American financial firm, 50 percent of all new financial products could fall under the“According to official disclosures, a euro invested in a car company finances virtually the same amount of carbon as a euro in an oil company,” said Bonaccrosi. “This should be a wake-up call for the financial industry.