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Falling EV Sales Are Upending Banker Climate Strategies bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The global electric vehicle market faces challenges as China leads in EV development, impacting sales in Europe and the US. Policy interventions are expected due to China s dominance and US tariff increases on Chinese imports.
Electric vehicles (EVs) have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the energy transition. It also has ramifications for the many financial institutions that have pledged to decarbonize the loans and investments they make.
Carlos Torres Vila underscored the role of emerging clean technologies in decarbonizing the economy. In a talk alongside Lei Zhang, CEO of Envision, the BBVA Chair pointed out the opportunity for exponential growth of innovation in the green industrial revolution.