The EU’s goal of cutting vehicle CO2 emissions to zero by 2035 is no longer achievable, industry leaders warned. In a letter to EU Commission President Ursula von der Leyen, the heads of Mercedes-Benz and Schaeffler called for a broader strategy that includes hybrids and alternative fuels, not just EVs. Reuters reports on the story.
Meanwhile, the Net-Zero Banking Alliance has paused activities after an exodus of members including HSBC, Barclays, and UBS. The group is now considering shifting from a formal membership model to a looser structure to maintain its climate goals. The move comes amidst growing political backlash in the US. The Financial Times covers the news.
