Auto industry expert and investor leaders say keep strong clean car standards

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Links to full testimony available as federal hearings conclude in Pittsburgh and Michigan

  • Auto industry expert and investor leaders say keep stro...

Auto industry expert and investor leaders highlighted the benefits of strong U.S. clean car standards during federal hearings on the rollback of these standards, arguing that the standards strengthen our economy, provide market certainty, save businesses and consumers money, and enhance the competitiveness of the American auto industry. 

The leaders participated in three days of hearings held by the National Highway Traffic Safety Administration on the rollback of national greenhouse gas emissions and fuel economy standards for light-duty vehicles, where Carol Lee Rawn, director of transportation at Ceres, Alan Baum, auto industry forecaster and principal of Baum and Associates, and Ken Locklin, director of Impax Asset Management, delivered testimony on the consequences of rolling back fuel economy standards. 

Below are excerpts with links to their full testimony.

Carol Lee Rawn, director of Ceres’ transportation program, delivered testimony in Pittsburgh, PA, today, September 26th.

“Our analysis found that suppliers – the largest U.S. manufacturing sector, which provides two-and-a-half times more American jobs than domestic automakers – would be especially hard hit under the preferred alternative – in fact, they stand to lose $20 billion between 2021-2025 in sales of fuel efficient technologies.”

Read Carol Lee Rawn’s full testimony.

Alan Baum, auto industry forecaster and principal of Baum and Associates, delivered testimony in Dearborn, MI, on September 25th.

“The current fuel economy and emission standards are in the economic interest of the auto industry by providing regulatory certainty and enhancing its ability to compete globally.  With respect to fuel saving technologies, automotive suppliers often provide critical technologies to their OEM customers, thereby reducing the investment the automakers must make.  US standards, in concert with increasing fuel economy standards in Europe and Asia, enable the industry to maintain its global approach to fuel saving technology.”

Read Alan Baum’s full testimony.

Ken Locklin, director of Impax Asset Management that manages over $16 billion in assets for institutional investors around the world, delivered testimony via proxy in Dearborn, MI, on September 25th.

“Rolling back fuel economy standards in the sector that is one of the fastest growing sources of GHG emissions globally signals that the US is not interested in its vehicles’ international competitiveness.  As investors, we have many choices to invest in vehicle and equipment makers, and if US firms become uncompetitive, we can and will respond by directing our investments overseas. But American companies who use the rollback as a reason not to invest in more fuel-efficient technologies will see sharply shrinking global markets. That’s not good news for the American auto sector, or for American workers.”

Read Ken Locklin’s full testimony.

Ceres-commissioned research by Baum and auto industry expert Dan Luria shows that the clean car standards help the U.S. auto industry stay competitive, profitable and innovative, and that weakening the standards could lose suppliers up to $1.42 billion in sales of fuel efficient technologies.

Media Contact: 
Helen Booth-Tobin: 617-247-0700 x 214 or booth-tobin@ceres.org

 

Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit www.ceres.org and follow .

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