Battery electric cars produce 73% less emissions
sold in Europe produce 73% less life-cycle
greenhouse gas emissions
than their gasoline counterparts, according to research firm, the
International Council on Clean Transportation
(ICCT).
Meanwhile, other powertrains, including hybrids and plug-in hybrids, show only marginal or no progress in reducing their climate impacts, the ICCT said.
WHY IT'S IMPORTANT
European automakers will have longer to comply with EU C02 emissions targets for cars and vans and could reduce potential fines after the European Parliament gave its backing to a softening of the rules.
Only battery electric cars can deliver the large-scale emission cuts needed to address Europe's most polluting transport mode, with passenger cars accounting for nearly three-quarters of the sector's emissions, the ICCT said.
While hybridization offers some benefits, these reductions are relatively small when compared with the battery electric cars' emissions savings, which makes it insufficient to meet the long-term climate targets, the research company added.
BY THE NUMBERS
Hybrid and plug-in hybrid cars offer only 20% and 30% lower lifetime emissions than gasoline, respectively, as plug-in hybrids are found to be driven less on electricity than previously assumed, the company said.
Europe's electricity mix is decarbonizing faster than expected, ICCT said, adding that by 2025,
renewable energy sources
are projected to account for 56% of electricity generation in Europe, representing an 18-point increase compared with 2020.
KEY QUOTES
"Battery electric cars in Europe are getting cleaner faster than we expected and outperform all other technologies, including hybrids and plug-in hybrids," said Marta Negri, researcher at the ICCT.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Indian Oil refiners continue to source oil from Russia
Indian oil refiners continue to source oil from Russian suppliers, sources told ANI. Their supply decisions are guided by price, grade of crude, inventories, logistics and other economic factors, the sources revealed. Providing context for India's decision to continue sourcing oil from Russian suppliers, sources said that Russia, the world's second-largest crude oil producer with an output of around 9.5 mb/d (nearly 10 per cent of global demand), is also the second-largest exporter, shipping about 4.5 mb/d of crude and 2.3 mb/d of refined products. Fears of Russian oil being pushed out of the market and the consequent dislocation of traditional trade flows drove dated Brent crude prices to soar to $137 per barrel in March 2022. "In this challenging environment, India, as the world's third-largest energy consumer with 85 per cent crude oil import dependence, strategically adapted its sourcing to secure affordable energy while fully adhering to international norms," added sources. Earlier, United States President Donald Trump on Friday (local time) claimed that India may cease purchasing Russian oil, calling it "a good step" if confirmed, while India has defended its sovereign right to conduct energy policy based on national interest. Earlier on July 31st, Reuters reported, citing its sources, that Indian state-owned refineries suspended Russian oil purchases last week amid threats of tariffs from US President Donald Trump and narrowing price discounts. Providing further historical context to its decision of sourcing Russian Oil, sources told that Russian oil has never been sanctioned ; instead, it was subjected to a G7/EU price-cap mechanism designed to limit revenue while ensuring global supplies continued to flow. India acted as a responsible global energy actor, ensuring markets remain liquid and prices stable. India's purchases have remained fully legitimate and within the framework of international norms. "Had India not absorbed discounted Russian crude combined with OPEC+ production cuts of 5.86 mb/d, global oil prices could have surged well beyond the March 2022 peak of US$137/bbl, intensifying inflationary pressures worldwide," added sources to ANI. It is also pertinent to note that Russian oil has never been sanctioned and it is still not sanctioned by either US or EU. Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US. Recently EU has recommended a price cap of $47.6 dollars for Russian crude which will be enforced from September. Commenting on European Union's import of Russian origin liquified natural gas (LNG) during this period, sources added, "EU was the largest importer of Russian liquefied natural gas (LNG) during this period, buying 51 per cent of Russia's LNG exports, followed by China at 21 per cent and Japan at 18%. Similarly, for pipeline gas, the EU remained the top buyer with a 37 per cent share, followed by China (30%) and Turkey (27%)." Sources speaking to ANI rebutted media reports of India halting purchase of Russian Oil and after US President's latest comment echoing the claim in the media report. US President Trump made remarks while answering an ANI question, on whether he had a number in mind for the penalties on India and if he was going to speak with Prime Minister Narendra Modi., "I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens..." Backing their decision to continue sourcing Russian Oil, Sources added that India's energy decisions have been guided by national interest but have also contributed positively to global energy stability. India's pragmatic approach kept oil flowing, prices stable, and markets balanced, while fully respecting international frameworks.
Time of India
an hour ago
- Time of India
Switzerland, the land of luxury brands, could see prices skyrocket from Trump's 39% tariffs
Prices for the eponymous Swiss watches , Swiss chocolate and Swiss cheese could skyrocket in a week as a result of U.S. President Donald Trump's trade war. Switzerland, home to some the world's most recognizable luxury brands, now faces an upcoming 39% tariff from the U.S. Industry groups on Friday warned that both Swiss companies and American consumers could pay the price. Trump signed an executive order Thursday placing tariffs on many U.S. trade partners - the next step in his trade agenda that will test the global economy and alliances - that's set to take effect next Thursday. The order applies to 66 countries, the European Union, Taiwan and the Falkland Islands. In Switzerland, officials failed to reach a final agreement with the U.S. after Trump initially threatened a 31% tariff in April. Swiss companies will now have one of the steepest export duties - only Laos, Myanmar and Syria had higher figures, at 40-41%. The 27-member EU bloc and Britain, meanwhile, negotiated 15% and 10% tariffs, respectively. Figure came as a surprise The Swiss government spent Friday - the country's National Day - reeling from the news. Swiss President Karin Keller-Sutter said that the 39% figure was a surprise, because negotiators had hashed out a deal last month with the Trump administration that apparently wasn't approved by the American leader himself. "We will now analyze the situation and try to find a solution," Keller-Sutter told reporters. "I can't say what the outcome will be, but it will certainly damage the economy." The U.S. goods trade deficit with Switzerland was $38.5 billion last year, a 56.9% increase over 2023, according to the Office of the United States Trade Representative. Keller-Sutter said that she believes Trump ultimately chose the 39% tariff, because the figure rounded up from the $38.5 billion goods trade deficit. "It was clear that the president was focused on the trade deficit and only this issue," she said. Time is ticking for watch companies For Swiss watch companies, whose products already come with price tags in the tens of thousands - if not the hundreds of thousands - of euros, a timepiece for an arm could cost a leg, too, come next week. The 39% figure was especially galling to the Federation of the Swiss Watch Industry, because Switzerland in 2024 got rid of import tariffs on all industrial goods. "As Switzerland has eliminated all custom duties on imported industrial products, there is no problem with reciprocity between Switzerland and the U.S.," the federation said in a statement. "The tariffs constitute a severe problem for our bilateral relations." Swiss watch exports were already facing a prolonged slowdown, with significant declines in the United States, Japan and Hong Kong, according to the federation's June figures, the most recent available. Swatch and Rolex declined to comment Friday. Representatives for Patek Philippe, IWC and Breitling didn't respond to requests for comment. Sour taste for Swiss chocolatiers Multinational chocolatiers Nestle and Lindt & Sprungli said they have production lines in the U.S. for American customers. But small- and medium-sized Swiss companies are predicted to suffer under the tariffs. Roger Wehrli, chief executive of the Association of Swiss Chocolate Manufacturers. also known as Chocosuisse, said Switzerland exports 7% of its chocolate production to the U.S. It's not just the 39% tariff that's the issue. Once the manufacturers factor in the exchange rate between U.S. dollars and Swiss francs ($1 to 1.23 francs on Friday), Wehrli said, it's close to a 50% increase in costs for the Swiss companies. And that's a big number to pass on to American consumers, if the already-slim margins aren't further reduced. "I expect that our industry will lose customers in the United States, and that sales volumes will decrease heavily," he told The Associated Press. Wehrli said that he wants Swiss chocolatiers to sell to other markets around the globe to make up the difference. Still, he hopes American customers remember that Swiss quality beats cheaper quantity. "I think even if prices for Swiss chocolate increase due to the very high tariffs, I think it's worth (it) to buy Swiss chocolate," he said. "It's worth (it) to really eat it consciously and to really enjoy it instead of eating a lot." Tough pill for Swiss pharmaceuticals Swiss pharmaceuticals powerhouse Roche says that it's working to ensure its patients and customers worldwide have access to their medications and diagnostics amid the Trump tariff war. "While we believe pharmaceuticals and diagnostics should be exempt from tariffs to protect patient access, supply chains and ultimately future innovation, we are prepared for potential tariffs being implemented and confident in managing any impacts," the statement said. The company in April announced that it plans to invest $50 billion in the United States over the next five years, creating 12,000 jobs. The company already employs more than 25,000 people in the U.S. Meanwhile, Novartis, another major Swiss pharmaceutical firm, said in a statement that it was reviewing Trump's executive order. "We remain committed to finding ways to improve access and affordability for patients," it said. Pietro De Cristofaro in Berlin, and David McHugh in Frankfurt, Germany, contributed to this report.
New Indian Express
an hour ago
- New Indian Express
Indian Oil refiners continue to source oil from Russia
Washington DC: Indian oil refiners continue to source oil from Russian suppliers, sources told ANI. Their supply decisions are guided by price, grade of crude, inventories, logistics and other economic factors, the sources revealed. Providing context for India's decision to continue sourcing oil from Russian suppliers, sources said that Russia, the world's second-largest crude oil producer with an output of around 9.5 mb/d (nearly 10% of global demand), is also the second-largest exporter, shipping about 4.5 mb/d of crude and 2.3 mb/d of refined products. Fears of Russian oil being pushed out of the market and the consequent dislocation of traditional trade flows drove dated Brent crude prices to soar to US $137 per barrel in March 2022. "In this challenging environment, India, as the world's third-largest energy consumer with 85% crude oil import dependence, strategically adapted its sourcing to secure affordable energy while fully adhering to international norms," added sources. Earlier, United States President Donald Trump on Friday (local time) claimed that India may cease purchasing Russian oil, calling it "a good step" if confirmed, while India has defended its sovereign right to conduct energy policy based on national interest. Earlier on July 31st, Reuters reported, citing its sources, that Indian state-owned refineries suspended Russian oil purchases last week amid threats of tariffs from US President Donald Trump and narrowing price discounts. Providing further historical context to its decision of sourcing Russian Oil, sources told ANI that Russian oil has never been sanctioned ; instead, it was subjected to a G7/EU price-cap mechanism designed to limit revenue while ensuring global supplies continued to flow. India acted as a responsible global energy actor, ensuring markets remain liquid and prices stable. India's purchases have remained fully legitimate and within the framework of international norms. "Had India not absorbed discounted Russian crude combined with OPEC+ production cuts of 5.86 mb/d, global oil prices could have surged well beyond the March 2022 peak of US$137/bbl, intensifying inflationary pressures worldwide," added sources to ANI. It is also pertinent to note that Russian oil has never been sanctioned and it is still not sanctioned by either US or EU. Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US. Recently EU has recommended a price cap of $47.6 dollars for Russian crude which will be enforced from September. Commenting on European Union's import of Russian origin liquified natural gas (LNG) during this period, sources added, "EU was the largest importer of Russian liquefied natural gas (LNG) during this period, buying 51% of Russia's LNG exports, followed by China at 21% and Japan at 18%. Similarly, for pipeline gas, the EU remained the top buyer with a 37% share, followed by China (30%) and Turkey (27%)." Sources speaking to ANI rebutted media reports of India halting purchase of Russian Oil and after US President's latest comment echoing the claim in the media report. US President Trump made remarks while answering an ANI question, on whether he had a number in mind for the penalties on India and if he was going to speak with Prime Minister Narendra Modi., "I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens..." Backing their decision to continue sourcing Russian Oil, Sources added that India's energy decisions have been guided by national interest but have also contributed positively to global energy stability. India's pragmatic approach kept oil flowing, prices stable, and markets balanced, while fully respecting international frameworks. ANI
