Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Iveco Group has limited, negative engagement with climate policy. The company has limited top-line messaging on climate policy, and negative engagement on key EU policies, including an EU CO2 emissions standard for heavy-duty vehicles.
Top-line Messaging on Climate Policy: Iveco Group’s top-line messaging on climate policy is limited. In its 2022 Sustainability Report, Iveco Group stated having set targets to reduce its own greenhouse gas (GHG) emissions, but it is unclear if they support IPCC demanded emissions reductions or other global regulations. Iveco Group does not appear to have stated a recent position on the Paris Agreement.
Engagement with Climate-Related Regulations: Iveco Group has negatively engaged on GHG emissions standards for Heavy-Duty Vehicles in the EU. In a March 2022 consultation response, Iveco Group opposed setting any 100% zero-emission CO2 target for heavy-duty vehicles in the EU. Similarly, in an October 2023 LinkedIn post, Iveco Group CEO Gerrit Marx supported the introduction of CO2 neutral fuels and Carbon Correction Factors in the EU’s CO2 emissions standards for heavy-duty vehicles, which would likely weaken the policy’s stringency. Iveco Group also advocated for the inclusion of CO2 neutral fuels in a 2023 CDP response on the same policy.
Positioning on Energy Transition: Iveco Group appears to engage negatively on the decarbonization of heavy-duty vehicles in Europe. In a March 2022 consultation response on the EU’s Emission Standards for Heavy-Duty Vehicles, Iveco opposed an effective ICE phase-out date for heavy-duty vehicles, appearing to promote the use of “renewable and low-carbon fuels” to power ICE-powered vehicles in the longer-term. Iveco Group also appeared to support the use of natural gas and biofuels to decarbonize heavy-duty vehicles, as stated in its 2022 Sustainability Report and Annual Report. Iveco Group also appeared to support CO2 neutral fuels in a 2023 LinkedIn post on the EU’s new Heavy-Duty Vehicles emissions reductions targets. Iveco Group’s CEO Gerrit Marx also supported the use of hydrogen to decarbonize heavy-duty vehicles in comments on the Alternative Fuels Infrastructure Regulation in 2022, without stating the need to fully decarbonize hydrogen production.
Industry Association Governance: Iveco Group has limited transparency on its indirect influence through its industry associations. Although it has published a complete list of its industry associations memberships in its 2022 Sustainability Report, Iveco Group’s disclosure on their influence on climate change policy is limited to positive top-line statements. Iveco Group has not published a review of its alignment with its industry associatoins. Gerrit Marx, Iveco Group’s CEO, is a board member of European Automobile Manufacturers Association (ACEA), which has both negative and positive engagement on EU climate policies. Iveco Group is also a member of the Truck and Engine Manufacturers Association (EMA), which has negative engagement on US climate policy, and the German Association of the Automotive Industry (VDA), which has negative engagement on German climate regulations.