So are electric vehicles good or bad | 21 October 2022
Helena Wasserman
Co-founder Investors for Climate | Climate Investor, Advisor & Solutionist
Hi everyone,
Just a few weeks ago, New York state declared that all cars will be net zero by 2035. The move comes about a month after California made the same decision - leading the way. This piece of good news is a good opportunity to dive into the debate on electric vehicles. Enjoy!
Onwards,
Helena
Do Electric Vehicles really make a difference? 🚙
Tesla Model S
With the rising popularity of different EVs (Electric Vehicles), assessing the actual dent they make in our carbon emissions is worth looking into. We heard that the materials involved in the making of an EV have a massive carbon footprint. Are they really greener and more eco-friendly than their fossil fuel-powered counterparts? Let's find out.
Benefits of EVs
Simply put, EVs don't rely (mostly) on fossil fuels to run; this means low to non-existent gas bills for EV drivers. Most EVs are also feature-packed with technology making them the perfect platform to test out innovations in the automobile industry, like using new and sustainable materials to make lighter and faster vehicles.
Read more here.
Where does the power come from?
The electricity that powers EVs still comes from the power grid. In places mostly powered by nuclear or hydroelectric sources like Norway or France, driving an EV maximises efficiency at little cost to the environment. Contrast this with Asia, where many countries still rely on fossil fuels to power their infrastructure, and we begin to see how EVs are simply a band-aid solution to the climate crisis. This said, you may want to do some research and determine where your country sources its energy before investing in an EV.
Impact on the environment
While most EVs still use a hybrid of electric and fuel power to work, their CO2 and other greenhouse emissions are up to 43% lower than conventional Internal Combustion Engines (ICEs). No matter how you look at it, EVs have ICEs beat in terms of lower lifetime climate impact; but depending on the country, your EV might not be saving as much as you think. Source.
Recommended by LinkedIn
The cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals. (Please note This figure excludes materials in the electrolyte, binder, separator, and battery pack casing.)
The cathode contains the widest variety of minerals and is arguably the most important and expensive component of the battery. The composition of the cathode is a major determinant in the performance of the battery, with each mineral offering a unique benefit. Learn more here.
Controversies Surrounding EVs.
Ironically, EVs might be contributing to climate change in unexpected ways. EV batteries are produced in giga-factories, where it's reported they emit 30 to 40% more emissions than typical car factories. This and many other incidents like racial discrimination inside company walls and fatal crashes have led many to question whether EV pioneers like Tesla should even be considered supportive of ESG. This discussion was to do more with the governance aspect of ESG.
My verdict
So are EVs really worth the ride? In general, the answer is yes – but we need to make sure we transition to renewable energy (see “where the power comes from” above) and we need to move to sustainable mining. Learn how to make mining more sustainable here.
Some good news this week:
One quote that never grows old:
“There are no shortcuts. I’m no accident. People like to say “it’s natural”. It’s not so! You have to practice and you have to study”.”Miles Davis