The ongoing process of transport electrification sometimes resembles a tug of war: forward-looking companies, environmental and consumer advocates, and (sometimes) government agencies pressure industries to electrify, while automakers, freight haulers and their trade groups pull in the other direction, trying to preserve the fossil fuel-dependent status quo as long as possible.
Arguably, the only pressure that matters in the end is economic pressure. With this in mind, NGO ShareAction “mobilizes global investors to use their influence to tackle climate change, protect the natural world and improve people’s health.”
Recently, some 31 investors, representing over $1.8 trillion in assets under management, issued a public statement urging freight and logistics companies to take action to address air pollution, calling for improved reporting, target setting, and concrete measures to reduce harmful emissions.
The investors warn that transparent reporting on air pollution remains limited—few companies in the freight and logistics sector acknowledge their contribution to harmful emissions, and even fewer are taking proactive steps to reduce pollutants.
The signatories are urging companies in the freight and logistics sector to:
- Recognise air pollution as a material business issue.
- Measure and disclose key health harming air pollutants.
- Set time-bound reduction targets for priority air pollutants.
- Accelerate the transition to cleaner vehicle fleets.
- Engage in industry and policy initiatives to support effective action on air pollution.
Alongside calls for voluntary action from companies, signatories are urging standard-setting bodies and government to strengthen mandatory corporate disclosure requirements for air pollution.
“Investors are rightly concerned about the lack of meaningful action from freight companies to reduce harmful pollutants from vehicle fleets,” said Justine Holmes, Clean Air Lead at ShareAction. “Air pollution is one of the most damaging health risks in investors’ portfolios—healthcare costs and lost workforce productivity cost the global economy $6 trillion every year.”
Source: ShareAction
