British company Barclays has joined The Climate Group’s EV100 initiative and pledged to electrify its fleet by 2030.
The multinational bank has confirmed it will launch a range of electric vehicles to decarbonize its UK operations. This is a growing concern in light of the imminent ban on the sale of internal combustion engines that will take effect in 2030.
“In March 2020 we become one of the first banks to announce an ambition to be net zero by 2050, which includes our operational emissions,” said Myriam Coneim, global sustainability and governance lead, operations at Barclays.
“In order to decarbonise our operations, we committed earlier this year to electrify our entire UK fleet by 2025, another target for our global fleet is 2030, where electric vehicles are unprofitable for the latter to use Ultra-low emission vehicles.
“Addressing this viability challenge was key to our decision to join EV100, and we look forward to working together with Climate Group and other members to speed up the transition to electric, particularly in less mature Electric Vehicle markets.
In the UK, companies such as Centrica and SSE have joined the initiative.
As part of the EV100 initiative, SSE has confirmed it will convert its fleet to electric and install charging stations by 2030. It also joined the EP100 program, which will double its energy productivity over the same period.
Centrica operates the UK’s third largest commercial fleet and has committed to electrifying 12,500 vehicles across its global fleet by 2030.
Several projects are currently under development aimed at installing electric vehicle charging stations to serve the growing UK market. A government-backed £20m pilot scheme was launched last month to support the growth of the electric vehicle industry by developing 1,000 new public charging stations.
This is especially important for the industry, as the EV100 report found that the biggest obstacle cited by EV100 members was a lack of charging infrastructure (67%).
Nonetheless, the number of Electric Vehicle charging stations in the UK has risen to 32,011 as of 1 July 2022, up 6% from April 2022, according to the Department for Transport.
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