A report, titled "Key Solutions CO2 Assessment" and published by GE Capital EMEA, found that new company cars from major markets in Europe reduced their CO2 emissions by 15.2 percent between 2008 and 2012.
GE stated the report analyzed CO2 reduction from 11 European countries between 2008 and 2012, and by extrapolating figures from this report, GE estimates that companies reduced their fleets’ CO2 emissions by 13,143,000 tonnes between 2010 and 2012. This amount is equivalent to more CO2 produced by a coal-fired power plant over a three-year period, according to GE.
In addition, GE’s Key Solutions team estimates that if fuel efficiency had remained at 2009 levels, company cars would have used 6.2 billion Euros more in fuel between 2010 and 2012.
“Our research shows a continued reduction in the CO2 emissions from company cars across Europe,” Commenting on the findings, said Alex Barbereau, EU accounts and consultancy director for GE Capital EMEA. “This is reflective of the improved fuel efficiency of new vehicles and, also, an ongoing focus on greener car policies. However, when our previous European CO2 Assessment was published in 2011, fuel accounted for 21 per cent of the Total Cost Ownership and today this figure stands at 26 per cent. Therefore, fleet managers have both an environmental and commercial incentive to achieve further reductions.”
Following are company vehicle emissions reductions by country:
Cumulative CO2 reduction in tonnes
Avoided fuel costs in Euros (bn)
The report from GE is available for download here.