It also assesses the time horizon of targets, and the achievement of previous targets, to form a composite picture of a company’s commitment to reducing its total emissions over time.
20 of the 25 companies have either set fleet targets that are not aligned with the scientific benchmark or have not publicly set any fleet targets. Of those that have publicly set fleet emissions reduction targets, the time horizons of these targets fall far short of what is needed for stakeholders to have confidence in the ability of these companies to successfully transition in the mid to long term.
Of the eight companies whose fleet targets were available for assessment, three companies’ targets only reach to 2020, and three companies cover up to the 2030s. Only Mazda and Nissan have set long-term fleet emissions reduction targets, to 2050. Both Mazda and Nissan have punctuated their long-term 2050 targets with one intermediate target (Nissan to 2022, and Mazda to 2030). Generally, the companies assessed fall short of the module’s expectations for their fleet target performance and the time horizon of these targets.
Four of the 25 companies – Groupe PSA, Ford, Renault and Mazda – have targeted fleet emission reduction pathways that are fully aligned with the scientifically set low-carbon benchmark pathway. However, Ford and Renault are not on track to meet their ambitious targets. Both companies lack a comprehensive, public transition plan to strategically guide performance against their low-carbon commitments. Mazda’s performance against target achievement could not be assessed due to lack of information.