Electric cars, a government incentive plan to lower prices

“If we make clean technology the most affordable, accessible and attractive choice, we can reduce emissions around the world,” he said. Boris Johnson, Prime Minister of the United Kingdom, at the Glasgow Cop26 Climate Conference. A crucial event from which a precise strategy has emerged: to support electric cars in every way. Machines that are already cheaper to operate today than those that burn fossil fuels and that are close to the turning point when they quickly become cheaper to buy.


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Already (source Car Cost Index 2021 by LeasePlan) electric cars in the premium mid-size segment are cost-competitive compared to vehicles with internal combustion engines in 17 European countries, but thanks to the “boost” they could get in the form of state support from “competition” one could move – on short term – for “convenience”. To be precise, Cop26 did not talk about how to technically implement car incentives, but after the announcements of more general strategies, record-breaking investments were declared to push the “green”.


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The only coalition of international financial companies born in April last year to tackle climate change and chaired by the former British central bank governor Mark Carneyfor example, it announced the commitment of private equity from companies worth $ 130 trillion to reach zero-emission targets by 2050.


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Carney himself explained it well during the climate conference in Glasgow, and the event was an opportunity to announce that the coalition will also give its support Michael Bloomberg who will join Carney as co-chair. The Glasgow Net Zero Financial Alliance (Gfanz) – made up of more than 450 banks, insurance companies and asset managers representing 45 countries – could provide up to $ 100 trillion in funding to help economies transition to CO2 neutrality in the race of the period the next three decades.

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“Now we have all the necessary conditions – Carney said – to move climate change from margins to the forefront of finances so that any financial decision takes climate change into account”. Leaders contribute $ 57 trillion to the coalition’s total assets, while a further $ 63 trillion comes from banks and 10 from pension funds.

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In short, while world leaders are announcing a plan to make green technology cheaper, there are now truly financial resources. And if Britain, the United States and China, among the countries that account for two-thirds of the global economy, agree to promote green energy and electric cars, it means that – soon – something will really happen. Not only that: more than 40 nations said they would adjust standards and coordinate investment to accelerate production and promote “tipping points” where green technologies would be cheaper and more accessible than fossil fuels.

Of course, we are not just talking about cars, but the cornerstones of this change are five: clean electricity, electric vehicles, green steel, hydrogen and sustainable agriculture. The goal is to make them accessible and accessible to all nations by 2030 and create 20 million new jobs.

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