E v and the Low Carbon Transition for Transportation

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As of november 20 21, there were more than ten i electric cars on the road. But under a net zero missions by 20 50 scenario, the i e a says the world would need weigh about 300 million electric cars in total. In comparison, e v is accounted for only four point six % of vehicle sales and 20 20, global so clearly, we still have a long way to go.

When it comes to tackling climate change, scientists say making transformative changes to the transportation sector will be key. For example, curbing vehicle transportation emissions will require a rapid scaling up of electric vehicle charging infrastructure as well as EV manufacturing. At the same time, companies are grappling with how to ensure the low-carbon transition balances climate goals with social ones.

In this episode of ESG Insider, we talk with Hina Baloch, Executive Director for Data Analytics, Sustainability and Diversity, Equity and Inclusion and STEM Education Communications at General Motors, one of largest auto manufacturers in the U.S. GM has made several low-carbon pledges and is working on ensuring an equitable and just transition as it pursues those goals. The company is also moving to shore up access to new domestic resources for critical minerals after the COVID-19 pandemic and the Russia-Ukraine conflict exposed weaknesses in global supply chains.

"A resilient local supply chain is going to be very important for a sustainable manufacturing future," says Hina. "Ensuring sustainability, ensuring scalability, ensuring security and ensuring cost competitiveness of our supply chain locally is extremely important."

Correction: This episode was updated to remove a reference to the location of where GM's Cadillac LYRIQ is being built. It is being built in Tennessee and not in New York.

We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).

To listen to our episode from the S&P Global Sustainable1 Summit in New York: https://www.spglobal.com/esg/podcasts/on-the-ground-in-nyc-how-climate-change-is-forcing-a-new-type-of-financial-literacy

To read more about expectations for electric vehicle sales, read this report by S&P Global Commodity Insights: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/042222-surging-ev-sales-hitting-high-lithium-prices-supply-chain-constraints-experts

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