Tesla is a publicly listed auto manufacturer headquartered in Palo Alto, United States. In 2019 it had US$24.6 billion in revenue and sales of over 300,000 vehicles. Almost all of Tesla’s sales occur in North America and Europe. The company also sells a very small number of vehicles in EFTA member countries like Norway and Switzerland and in other countries like Ukraine, New Zealand, and Singapore.
- Performance score
- 11.7 /20
- Assessment Note
Tesla received a full ACT assessment in 2019.
Tesla’s advocacy for electric vehicles and active distancing from trade associations opposing climate policy in the USA were recognised in this assessment, resulting in improved performance on policy engagement.
However, Tesla still lacks transparency. The negligible in-use emissions from its BEVs does not mean that the company has no emissions accountability. Despite stating in its 2018 Impact Report that 2017 would be the base year for future emissions accounting, Tesla failed to report on emissions both from its upstream sourcing of materials and its manufacturing process during this assessment period.
Investors have noticed Tesla’s lack of accountability on emissions sources. CDP’s Capital Markets team, acting on behalf of investors worth US$20 trillion, recently called on Tesla (and other high-emitting companies) to set a 1.5-degree-aligned target through the Science Based Targets Initiative. Tesla should improve its emissions reporting and set a 1.5-degree-aligned emissions reduction target to give stakeholders, including investors, confidence that the company will be on track to meet the Paris goals and remain profitable in a low-carbon future.
More about the company
- Ownership structure
- Publicly listed
- Revenue (2019)
- US$24.6 billion
- Number of vehicles sold (2019)