Over 100,000 new manufacturing jobs could be created in Europe by investing in the development and manufacturing of fuel-efficient technologies to make cars greener, according to a new report published by Transport & Environment (T&E).
The report, conducted by the Dutch consultancy CE Delft, dispels industry’s claims that reducing CO2 emissions from cars would have a negative impact on automotive jobs and competitiveness in Europe. It also highlights the fact that money saved through using less fuel increases consumers’ disposable income, which in turn creates extra jobs across the EU economy.
For drivers, a target of 95g will provide annual fuel savings of over €500. These savings will be much greater than the additional costs of buying a more fuel-efficient car, enabling drivers to recover their costs in 1.5 to 2.5 years. More importantly, the savings would rise to over €750 per year and still pay back in around three years if a more ambitious target (80g/km) was adopted. Since Europe will also import less oil, it will also increase resiliency to oil price shocks and improve the balance of trade.
In 2009, legislation was adopted that requires cars sold in Europe to emit an average of 130 grams of CO2/km by 2015 and 95 g by 2020. In July 2012, the Commission proposed to confirm the 95 g target for 2020 and the way it should be met.
“The Parliament and Council have the opportunity to improve the Commission proposal”, Greg Archer at T&E, concludes, “by setting more ambitious targets and closing loopholes. Low-carbon vehicles are part of the solution to Europe’s economic problems – good for jobs and the economy, good for drivers and good for the environment too.”
Source: T&E press release, 11 October 2012
The directive: http://ec.europa.eu/energy/efficiency/eed/eed_en.htm