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Saturday, September 30, 2023

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Pepsi and Nike Call for Stricter Emission Targets

PepsiCo Inc. and Nike Inc. are putting pressure on the European Union to implement more strict emission targets for their trucks, this will lower costs in the long run.

According to a study done by the American Transportation Research Institute, the cost of trucking has increased to record breaking numbers.

In a letter to the joint lawmakers and member states signed by over 40 businesses, the EU should boost its emissions cuts by 65% (in the trucking sector) by 2030. Current emission cuts are proposed at 45%.

Some of the most notable companies to sign this letter are Nestle SA and A.P. Moller-Maersk S/A. These multinational companies are also calling for the EU to set a date for when 100% of their semi-trucks will produce zero emissions. 

PepsiCo ranks No. 1 on the Transport Topics Top 100 list of the largest private companies in North America. Maersk ranks No. 5 on the TT50 Global Freight Companies. Together, these conglomerate companies have the power to force the EU to abide by these terms.

Truck-making companies have already committed to emission cuts, however they face some setbacks. 

“While we want to start purchasing more zero-emission trucks, they are currently not yet available at sufficient scale,” the companies said in their letter. “We now ask for your support to ramp up their production.”

In a proposal by the EU in February, certain vehicles were exempt from emission rules. These vehicles include fire service vehicles and garbage trucks.

The companies have asked for legislators to iron out the edges for these exceptions to ensure the EU can be zero emission in the next decade.

Trucking companies are faced with many issues when it comes to switching to carbon neutral trucks. The main one being the lack of development on hydrogen, which would be the fuel source for these low emission vehicles. 

Germany’s Daimler Truck AG plans to sell only CO2-neutral trucks by 2039. In Europe, the company’s main Mercedes-Benz truck brand aims to increase the share of new such vehicles to more than 50% by 2030. Its first electric truck for long-distance transport is set to make its debut in October.

Sweden’s Volvo AB is aiming for 50% of its global sales of new trucks to be electric in 2030, and 100% to be net-zero by 2040. 

While Volvo sees itself as the market leader in Europe and North America, electric trucks accounted for 1.3% of its first-quarter sales. The manufacturer is planning on increasing their output to meet its emission targets.

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