More than 30 global corporates have pledged to switch their road fleets to electric vehicles through the EV100 initiative, which has set a target of electrifying 2 million vehicles by 2030 through its membership.
Published this weekend, the Climate Group’s first report on its EV100 initiative reveals 31 companies with a combined revenue of over $500 billion have made EV commitments as part of the campaign, including high profile names such as BT, IKEA, Unilever, EDF and Heathrow Airport.
The report provides a detailed update on the commitments made by 23 member companies, which have together pledged to switch 145,000 vehicles to electric in 66 markets around the world by 2030.
Collectively, the EV commitments from these 23 firms could help to save an estimated 6.6 million metric tons of CO2, the equivalent carbon footprint of 1.9 million U.K. households, according to the report.
Of these members, 95 percent cited greenhouse gas reduction as a “very significant” or “significant” driver for switching to EVs, and 80 percent highlighted tackling air pollution as a key reason. A third also identified financial savings as an incentive for investing in EVs.
However, over 70 percent of EV100 members also identified a lack of EV charging infrastructure as one of the biggest barriers to increased electric vehicle adoption. Nevertheless, the report states that collectively EV100 member companies have made commitments that will give access to EV charging to over 630,000 of their employees by 2030.
The global shift to EVs is rapidly accelerating, with the total number on the world’s roads surpassing 3 million worldwide in 2017, an expansion of over 50 percent since 2016. Meanwhile, recent studies have forecasted EVs could reach cost parity with fossil fuel cars globally on a total cost of ownership basis by 2022, as battery costs continue to drop.