Tesla's mission is to accelerate the world's transition to sustainable energy. When it comes to the social criteria in ESG, Tesla has issues on at least two fronts: human rights within its supply chains and labour management at its factories. The Environmental Impact of Lithium Batteries. In its announcement the electric auto maker declared that the company produced and delivered in-line with most recent guidance. As you probably know, Tesla prioritizes green energy and sustainable practices. How does Tesla perform in the Governance criteria? November 12, 2020. The financial firm had actually been calling for Tesla to release an environmental impact report since 2017, which was around the same time when reports and … Tesla's mission is to accelerate the world's transition to sustainable energy. 01 October 2020. The report notes for example that it is a myth that batteries in electric vehicles, the most expensive component, needs to […] There are several examples where Tesla had violated labor rights and forced workers to work in unsafe conditions. Carmaker Tesla has unveiled an ambition to use cobalt-free batteries in all of its electric vehicles (EVs), in a drive to minimise the environmental and social impact of its supply chains and boost the longevity and recyclability of its technology. Tesla outlined its goal for responsible Cobalt sourcing in its latest 2019 Impact Report, released on June 8, 2020. Why this environmental impact manager won’t invest in Tesla, even if it makes him underperform. Tesla Model S and Nissan Leaf generate significant more emissions per distance when compared with the most efficient electric vehicles available in the market: Tesla Model 3 and Hyundai Ioniq. Cobalt, while controversial, is a crucial element in lithium-ion batteries, at least for now. When confronted by investors demanding better corporate governance, Elon Musk tweeted “This investor group should buy Ford stock. 22 June 2020, source edie newsroom. Is Tesla Sustainable? However, it is also known that individual transportation is not the most effective and clean way to move passengers from one point to another. How does Tesla perform in the Social criteria? Tesla, the global leader in EV (electric vehicles) by units produced, after much expectation and speculation has joined the S&P 500 on 21st December 2020. The biggest environmental claim Tesla makes in the report is that its cars have "saved" over four million tons of carbon from being released into the atmosphere. Local environmental impacts, economic injustices, and even slavery-like arrangements in supply chains are all things we should be working to improve upon or eliminate. Tesla published on Monday its first ever Impact Report, a study of the impact the company’s products and operations have on the environment and communities. At Tesla’s 2019 Impact Report, they clearly indicate that sustainability is not their top priority, by stating: “Making a significant and lasting impact on environmental sustainability is difficult to achieve without securing financial sustainability for the long term”. A lot of work is still needed from Elon Musk and his management team to improve the company’s social impact and corporate governance. Reading Time: 10 min The iShares Social ETF is one of the oldest and most popular ESG ETFs from iShares. We are often asked if electric vehicles (EVs) are more sustainable than … The firm’s inaugural impact and sustainability report was the topic of much discussion in the sustainability, energy and automotive space, due to Tesla’s decisions on what to include and what to omit. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.“Green Cars Market is growing at a High CAGR during the forecast period 2020-2026. It is also a fact that road transport accounts for 15% of global C02 emissions, thus by focusing on electric vehicles to eliminate tailpipe emissions, Tesla is making investments in the right direction. The added environmental impact is mainly driven by the metals used in batteries and the resources and energy needed to mine those metals (lithium, nickel, and cobalt). When comparing to its peers in the automobile industry, MSCI indicates that Tesla is a laggard in Labour Management and, different than other agencies, as a leader in Corporate Governance. The automaker plans to eventually produce a zero-cobalt battery for its … Tesla revenue hit $6.04 billion during the second quarter of 2020, with about 7% of that, or $428 million, coming from sales of regulatory credits. The Palo Alto, California-based maker of electric cars was on track for all-time highs in revenue and profits (annual figures will be reported later this month). The legacy of Tesla: one fact that cannot be denied is Tesla’s influence in the electric vehicle industry and how the company was able to create enough momentum for EVs. The report offers a clear reminder of Tesla's mission, which is simply to "accelerate the world's transition to sustainable energy." However, as an automaker we need to look beyond tailpipe emissions, and evaluate the environmental impact of Tesla cars during full lifecycle, from cradle to grave. Below we have the CO2 emissions per distance driven for four electric cars (Tesla Model 3, Tesla Model S, Hyundai Ioniq and Nissan Leaf) at three different locations (Los Angeles, Austin and Australia). But we do find similarities in their assessments. How does Tesla perform in the Environmental criteria? EV Tool (Union of Concerned Scientists, USA): Green Vehicle Guide (Australian Government): According to the Union of Concerned Scientists, Hyundai Ioniq has slightly lower emissions per mile than Tesla Model 3. When well designed, low carbon ETFs exclude companies that have high emissions or will potentially generate high carbon emissions in the future, Read more…. Let us look deeper into each aspect of Tesla’s sustainability and its ESG ratings. Suppliers involved in sourcing Cobalt for the electric automaker are required and expected to follow Tesla’s Code of Business Conduct and Ethics. Tesla has been designing low-emission luxury cars that are appealing to consumers in the United States (the country with most road vehicles per inhabitants), and other rich economies. How Does Tesla Perform on ESG? While Tesla itself is focused on addressing climate change with its core products, the environmental impact of its lithium-ion batteries should be closely examined and mitigated. Keep in mind that we may receive commissions when you click our links and make purchases. Compensation Committee Report ... which reduces the environmental impact of our annual meeting and our costs. Tesla was named after Nikola Tesla, who was a very successful inventor and scientist of his time. Tesla produces highly-efficient EVs, but it has several sustainability issues, including the environmental impact of its batteries, poor working conditions and the eccentric and unusual governance of Elon Musk. However, when looking from a sustainability perspective, we need to access how Tesla’s vehicles compare to other EVs by amount of CO2 emissions during the vehicle’s lifetime. In any case, Tesla recently released its 2019 Impact Report. Not an investment advice: The information provided on this website is intended for general information purposes only and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. If you want to find and buy the best clean energy ETFs, you should be aware of the sector megatrends and mitigate risks when investing. All rights reserved. The transparency that Tesla provides throughout the Impact Report’s Cobalt Sourcing section shows a responsible process of mining the metal. For S&P Global the main governance risks are Elon Musk’s dominant role in the company and its potential impact on corporate governance. Those analysis are already being done by highly specialized analysts, both from a bullish and a bearish perspective. 1/5 of cobalt is used to produce EVs and in this site that just talks about meneral they even cite Tesla as a major consumer. The Results. Supply Chain: At the 2019 Impact Report, Tesla recognizes the high risk of human right issues on its cobalt supply chain, especially driven by the existence of child labor in the Democratic Republic of the Congo (DRC). Great analysis, Sasdelli! In particular, the issue of child labor has driven as much skepticism from critics as nearly any other topic. Aerosol Cans Market Analysis by 2020 Research Report Covers Updated Data Considering Post Impact of Covid-19 on Share, Size and Future Demand Published: Dec. 21, 2020 … In its announcement the electric auto maker declared that the company produced and delivered in-line with most recent guidance. Tesla is building the Giga Berlin factory without certain permits. However, the regular auditing and due diligence have helped Tesla maintain responsible labor and material acquisition practices, effectively eliminating any criticism for utilizing Cobalt at the current time. Tesla has even gone as far as removing some risks from its supply chain. PALO ALTO, Calif., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Tesla has released its financial results for the third quarter of 2020 by posting an update on its Investor Relations website. S&P Global, at the ESG Industry Report Card: Autos and Auto Parts, rates Tesla as B-/Negative. On January 2 nd, Tesla reported both Q4 and 2020 full year operational performance, once again exceeding Wall Street expectations, but falling just short of total year vehicle delivery performance.. However, while the element is still included in the current battery makeup, responsible sourcing is among Tesla’s main concerns. The combination of the three metals creates a battery that has longevity and stability throughout the life cycle of the vehicle. According to Sustainalytics, Tesla has an ESG risk rating of 31.1 points, which is classified as high risk (the lower; the better). Tesla’s plans to utilize zero-Cobalt batteries are certainly in the company’s future plans. Through this system, the recovery of critical minerals will be maximized along with the recovery of all metals used in Tesla battery cells, such as copper, aluminium and steel. The report highlights the positive changes the company has made towards sustainability. Workers at Tesla factories: Tesla labor management is not good either. Local environmental impacts, economic injustices, and even slavery-like arrangements in supply chains are all things we should be working to improve upon or eliminate. But cars, even electric ones, have a far broader environmental impact. However, it is not clear how Tesla will repurpose and recycle its batteries. Cobalt supplies a battery with high-rate performance and enhances cycle stability when exposed to high levels of heat, according to ScienceMag. But Tesla believes there is a way it can help. Accidentally producing the polar opposite of Starship serial number 9 (SN9) completing a trio... Tesla recently shared some footage of its next-generation 4680 battery cells being produced. Tesla has released its environmental impact report for 2019 today, and the report does a lot to address several myths which portray electric vehicles as actually more damaging to the environment than petrol cars. Tesla stated last week when the Impact Report was released that it supports procurement from the Democratic Republic of Congo, one of the poorest countries in the world, “where we can be sure that minerals, including cobalt, come from mines that meet our social and environmental standards”. When mining for lithium only 0.2% of the material extracted is useful, the remaining 99.8% of the material is returned to the ground. The report sheds some light on key measurements and metrics on all the environmental aspects of Tesla’s performance last year. 2 Jul, 2020; Tesla asked to report on human rights amid cobalt deal with Glencore ... Tesla has issued reports on its efforts around environmental, social and governance issues. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”. Copyright © TESLARATI. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Fernando created Your Green Wealth to help investors find sustainable investing options. The eventual phasing out of Cobalt from the batteries Tesla uses requires an extreme process of due diligence, now. The report explicitly mentions areas notorious for child labor, especially in the field of Cobalt mining. Tesla published on Monday its first ever Impact Report, a study of the impact the company’s products and operations have on the environment and communities. Tesla’s first impact report was only published in 2018. As of December 2020, Tesla is not only the largest EV by number of units produced (Q1-Q3 2020: 318,350 units), but it is the largest automaker by market cap. According to Fueleconomy.gov, Tesla Model 3 (2020) has the highest efficiency, reaching 141 MPGe. The automaker plans to eventually produce a zero-cobalt battery for its vehicles and energy products, in its bid to source metals in a responsible fashion that maintains not only the integrity of the company but also the human rights of those involved in the sourcing of raw materials. Fuel economy during operation is a relevant factor to determine the electric vehicle’s efficiency in terms of distance performed with one unit of electricity. In December 2020, the company partnered with two firms to build carbon-negative renewable natural gas fuel facilities and infrastructure, pushing its stock price up 73 per cent in the month. Tesla Sector: Manufacturing Transport Country: United States 2019. MSCI has been downgrading Tesla ESG since it started measuring it. Their governance is amazing …”. Tesla’s electric vehicles are among the most efficient cars when it comes to energy consumption per kilometer, or Miles Per Gallon equivalent (MPGe), as the EPA (the United States Environmental Protection Agency) assess the fuel economy of all-electric vehicles (1 gallon of gasoline = 33.7 kWh). Tesla states that it has mapped significant areas of the Cobalt supply chain, and ethics concerning sourcing the metal will continue to improve over time. According to Tesla’s 2019 Impact Report, its batteries are designed to outlast their cars and they have ambitions to design batteries that could last for 1 million miles. In 2017, MSCI gave Tesla a rating of ‘AAA’, reducing it to ‘AA’ in 2018 and now, in 2020, it rates Tesla as ‘A’. Jun 10, 2020 at 20:44 GMT 7 months ago Tesla has released its environmental impact report for 2019 today, and the report does a lot to address several myths which portray electric vehicles as actually more damaging to the environment than petrol cars. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.”. Tesla is far from having a great ESG rating. Tesla continues in the introduction of the report: “While many environmental reports focus on emission generated by the manufacturing phase of … Reduced absolute greenhouse gas emissions by nine percent in Fiscal Year 2020 compared to Fiscal Year 2019. As expected, due to the nature of its business, Tesla has a good rating in Environmental criteria. They are mainly recycling pre-consumer scrapped lithium and currently working with third-party recyclers (e.g. Credit: Windell H. Oskay, Flickr Creative Commons) Tesla published its first ever Impact Report this week. Cobalt has been one of the primary sources of criticism for non-EV supporters. Tesla Releases Environmental Impact Report April 16, 2019 Contributor News 6 Comments Tesla published on Monday its first ever Impact Report, a study of the impact the company’s products and operations have on the environment and communities. However, Tesla is far from reaching the revenue or production volume of Toyota or Volkswagen, which deliver around 10 million vehicles per year each. Rockville, Md., Jan. 27, 2021 (GLOBE NEWSWIRE) -- The massive environmental challenges we face have complex causes and cascading consequences. Tesla’s new impact report is only the second it has ever produced. However, Tesla has not been clear about when and how this will happen. Then, it discusses its supply chain and its responsible sourcing for materials. Under a section titled “Supply Chain Introduction: Responsible Material Sourcing,” Tesla addresses and details its “Supplier Code of Conduct” and “Human Rights and Conflict Minerals Policy.” The two documents outline the company’s expectations for its suppliers and partners and require all members of the Tesla supply chain to uphold responsible and integrity-focused techniques when acquiring Cobalt. Currently, the company’s cells use nickel-rich cathode materials and contain less Cobalt than any other widely used cathode chemistries in the EV sector. Thank you and congratulations! During operation and use, Tesla EVs are expected to have a smaller environmental impact than ICE, since EVs have zero tailpipe emissions and they enable the use of cleaner energy sources. Tesla’s First Impact Report Puts Hard Number on CO2 Emissions Emily Chasan , Bloomberg News (Bloomberg) -- Tesla Inc. released its first-ever environmental impact report on Tuesday afternoon, joining the 80 percent of S&P 500 companies who produce glossy-looking and sunny testaments to their own corporate sustainability record. Tesla’s 2019 Impact Report is available below. Recycling large lithium-ion battery packs of more than half a ton is not an easy task. Tesla’s first ever diversity report shows its U.S. workforce led mostly by white men ... Equity and Inclusion Impact Report 2020 (U.S). It cames from 20% in 2006 to 62% in 2020. Disclaimer: This website may use affiliate links. According to Tesla’s Impact Report, 550,000 vehicles have been sold, 10,000,000,000 miles have been driven, and more than 4,000,000 metric tons of CO2 have been saved, which, as Tesla highlights, is the “equivalent of saving emissions from being released into the environment from over 500,000 ICE vehicles with a fuel economy of 22 miles per gallon.” Tesla, Inc., which was Tesla Motors Inc. in the former days, has reached the heights of success as a dynamic automotive and energy solutions organization. They also indicate Tesla’s controversy rating as ‘Significant’ (3 out of 5), being the main drivers Corporate Governance and Labour Relations. Impact Report 2019; Sustainability / CSR Annual Report 2018. He had remarkable achievements in Radio technology and electrical engineering of Serbian descent. The main social risks are related to “product liability, government scrutiny, and further regulation”. Tesla’s ESG risk rating is split into 2.8 points for Environmental, 17.3 points for Social, and 11.0 points for Governance. Tesla targets cobalt-free batteries in bid to minimise environmental impact. After an in-depth analysis to assess its social impact, we identify its strengths and weaknesses, and reach an interesting Read more…. For comparison, Volkswagen has an ESG risk rating of 41.1 and Toyota Motor Group has an ESG risk rating of 29.7. At Tesla’s 2019 Impact Report they indicate that they are not yet recycling batteries at large volumes. Tesla had a great year in 2020, seeing its stock price soar by more than 600%. For example, assuming a battery of 75 kWh and a lifetime of 150,000 km (Tesla Model 3), when produced in China – which has coal as the main source of electricity – emissions would be 100kg CO2eq/kWh or 50g CO2/km during the car lifetime. According to its product impact, Tesla has sold over 550,000 electric vehicles. Tesla first delves into the product and operational impacts of their electric vehicles. In this post, we will not analyze Tesla’s valuation, nor its stock price. We will also assess how well Tesla is fulfilling its mission: “Tesla’s mission is to accelerate the world’s transition to sustainable energy. Despite not being the best example in sustainability and ESG, Tesla is producing high-energy efficient vehicles and is investing heavily to mitigate its environmental risks, by improving the management and transparency at its supply chain, and developing better recycling processes and technology for its batteries. The company’s stock price surged by 236 per cent in 2020, and added another 25 per cent at the end of January 15, 2021. Broader report . Reading Time: 12 min A huge transition is taking place in the global energy sector. Tesla published on Monday its first ever Impact Report, a study of the impact the company’s products and operations have on the environment and communities. (Photo: Tesla headquarters in Palo Alto, California. Several ESG rating agencies have rated Tesla on ESG criteria. Prior to 2018, Tesla mainly focused on updating a webpage with the estimated emission reductions caused by its electric vehicles, and, according to The Transition Pathway Initiative, scored zero in climate performance for not disclosing policies and programs related to ESG topics. Besides being known for the extremely optimistic promises of its CEO Elon Mask, and constantly missing production deadlines, the main governance issue is Tesla’s Board of Directors, which has strong ties with other Musk’s ventures, such as SolarCity and SpaceX. However, here again the emissions associated with the vehicle use are dependent on the energy sources available at each recharging location: the upstream fuel cycle. Home | ESG | Is Tesla Sustainable? Ultimately, to achieve the environmental targets necesary to avoid climate disruption, we need to change our car-centric culture and invest in public transportation, including electric buses, trains and bikes. Mining is a water-intensive process that can deplete local aquifers and impact the local ecosystem. On January 2 nd, Tesla reported both Q4 and 2020 full year operational performance, once again exceeding Wall Street expectations, but falling just short of total year vehicle delivery performance.. California turns to superheroes to help dispel EV myths. Tesla Releases Environmental Impact Report. For example, for the same Tesla Model 3, emissions associated with the energy used to charge the batteries (fuel cycle) could add 59g CO2/km if charged in the US, 26g CO2/km in the UK, or only 7g CO2/km in France. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Pocket (Opens in new window). Impax Environmental Markets manager Jon Forster explains why he … The emissions associated with the manufacturing of Tesla batteries are dependent on the factory’s location and the energy source used in the process. Since those agencies use different criteria, we do not expect to find a complete consensus. Impact Report 2019; Sustainability / CSR Annual Report The financial firm had actually been calling for Tesla to release an environmental impact report since 2017, which was around the same time when reports and … Tesla outlined its goal for responsible Cobalt sourcing in its latest 2019 Impact Report, released on June 8, 2020. 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