United Nations Conference on Climate Change: Global automakers promise to suspend fuel vehicles by 2040

United Nations Conference on Climate Change: Global automakers promise to suspend fuel vehicles by 2040

Recently, the United Nations Conference on Climate Change (COP26) has become the focus of global attention, and one of the important topics is the energy transformation of the automotive industry. Many well-known car companies around the world have jointly promised to gradually stop selling fuel vehicles by 2040 and turn to electric vehicles and hydrogen-energy vehicles. This commitment will not only have a profound impact on the automotive industry, but will also affect multiple fields such as energy, technology, and finance.

1. Commitment and influence of global automakers

According to the information released by COP26, dozens of car companies including Mercedes-Benz, General Motors, Ford, Volvo, etc. have signed the "Zero Emission Vehicle Declaration", promising to suspend the sale of fuel vehicles by 2040. The following are the specific commitments of some car companies:

The direct effect of this commitment is to accelerate the electrification transformation of the global automotive industry. According to the International Energy Agency (IEA), global electric vehicle sales accounted for only 4.6% in 2020, while by 2030, this proportion is expected to rise to more than 30%.

2. Chain reaction between energy and infrastructure

The gradual phase-out of fuel vehicles will significantly change the global energy consumption structure. Oil demand is expected to fall sharply, while electricity demand will surge. Here is the IEA's forecast for global energy consumption:

At the same time, the construction of charging infrastructure will become a key task for governments in various countries. Taking China as an example, as of 2021, the number of charging piles nationwide has exceeded 2 million, but according to the plan, this number needs to reach more than 5 million by 2030.

3. Opportunities in the field of technology and finance

The popularity of electric vehicles will promote the rapid development of battery technology, autonomous driving, and vehicle networking. The following are the layouts of major global technology companies in the automotive field:

The financial field will also usher in changes. The demand for financial instruments such as green bonds and carbon trading will increase significantly. According to Bloomberg, the global green bond issuance scale has exceeded US$500 billion in 2021 and is expected to exceed US$2 trillion by 2030.

4. The dual benefits of society and environment

Discontinuing fuel vehicles will not only help reduce greenhouse gas emissions, but will also improve urban air quality. According to statistics from the World Health Organization (WHO), the number of deaths caused by air pollution exceeds 7 million worldwide every year, and transportation emissions are one of the main sources of pollution.

However, this transformation also faces challenges, such as battery recycling, grid load, and employment structure adjustment. Governments and enterprises in various countries need to work together to ensure a smooth transition.

In short, the 2040 commitment of global auto companies marks an important step for mankind toward a low-carbon society, but its joint effects will far exceed the automotive industry itself, reshaping the global economic and ecological pattern.