Connect with us

News

SEC removes emissions requirements from climate rules draft

Image: Pixabay

Published

on

Ahead of plans to adopt the updated regulations, the U.S. Securities and Exchange Commission (SEC) has edited out some of its stricter emissions requirements from corporate climate risk rules.

The SEC has removed a requirement for companies listed in the New York Stock Exchange (NYSE) to disclose their Scope 3 emissions, according to people who asked to remain anonymous in statements to Reuters last week. The disclosure requirement was included with the SEC’s initial draft of the corporate climate risk rules, which were published in March 2022.

Scope 3 emissions refer to greenhouse gases, including carbon dioxide, which are released into the atmosphere through the supply chains of many companies, as well as the use of the products by consumers. According to the consulting firm Deloitte, Scope 3 emissions comprise over 70 percent of the carbon footprint for most businesses.

Economist says cheap Chinese EVs should be kept out of U.S. due to security risk

If the new draft of the rules is adopted, it would effectively shift the course of U.S. companies from previously enacted European Union (EU) rules, which have mandated the use of Scope 3 emissions disclosures for large companies starting this year.

Advertisement

Since originally being proposed by the SEC, many companies have lobbied for softening the emissions reporting rules, and adoption of the re-worked requirements would be considered a win for corporations and trade groups that have opposed disclosure mandates. Many of these groups argue that the data is difficult to compile and is controversial from a legal standpoint.

A spokesperson from the SEC noted that the U.S. agency was considering the updated rules following public feedback it has received, though they declined to comment on what was included in the latest draft. It’s also not clear if rules surrounding the disclosure of Scope 1 and Scope 2 emissions are still included in the newest draft.

“The Commission moves to adopt rules only when the staff and the Commission think they are ready to be considered,” the spokesperson said.

If the new rules are not adopted, and instead the SEC adopts its original rules, it would require publicly traded businesses to share the Scope 3 greenhouse gas emissions, as well as other climate-related risks that could impact the companies.

Upon finalizing a completed draft, the SEC will bring the proposed requirements before its five commissioners for a vote. Reuters says it’s not clear yet when the regulator plans to hold a vote, and it’s also possible that it could face additional revisions before then.

Advertisement

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us news tips at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

News

Tesla lands new partnership with Uber as Semi takes center stage

Tesla and Uber will work together, using the company’s all-electric Semi, to make sustainable Class 8 electric trucks more affordable with three main strategies: Subsidized Pricing, Predictable Growth, and Optimization of Utilization.

Published

on

Credit: Uber

The Tesla Semi has led to a new partnership between the company and Uber, as the two are launching a program that aims to revolutionize logistics by making sustainable commercial vehicles more accessible.

Uber announced on Tuesday that it was planning to launch the Dedicated EV Fleet Accelerator Program in a new partnership with Tesla. Uber’s Freight division is mainly responsible for the new program, which it calls a “first-of-its-kind buyer’s program designed to make electric freight more affordable and accessible by addressing key adoption barriers.”

Tesla and Uber will work together, using the company’s all-electric Semi, to make sustainable Class 8 electric trucks more affordable with three main strategies: Subsidized Pricing, Predictable Growth, and Optimization of Utilization.

  • Subsidized Price: Fleets purchasing Tesla Semis through this program will receive a subsidy on the purchase price.   
  • Predictable Growth: Fleets will integrate their Tesla Semis into Uber Freight’s dedicated solutions for shippers for a pre-determined period. This creates an opportunity for carriers to forecast revenue with confidence, while shippers gain consistent access to reliable, zero-emission capacity. 
  • Optimize Utilization: Uber Freight taps into its extensive freight network to match carriers with consistent, high-quality freight from our strong shipper base—helping ensure the addition of these Tesla Semis stay fully utilized and carriers see dedicated, real, measurable returns from the start

Tesla will work directly with interested companies to iron out technical details about the Semi, as well as its cost of ownership based on the tailored needs of their business. Fleets can expect savings on the first day, Uber says, as they will avoid diesel fuel costs and reduced maintenance, a widely known advantage of EVs.

Uber announced that it had partnered with select carriers to pilot the Dedicated EV Fleet Accelerator Program prior to its launch:

“During the 2-month pilot program, the Tesla Semis showcased both reliability and efficiency for Uber Freight’s shipper network. Over 394 hours of drive time, carriers covered 12,377 miles. With an average net energy consumption of just 1.72 kWh per mile and only 60 hours of total charge time, these results highlight the operational viability of Tesla Semis on demanding freight lanes. “

Advertisement

In its press release launching the program, Uber effectively highlights how the use of the Semi can impact a company’s margins and profitability through fuel savings, reduced maintenance costs, and lower total cost of ownership.

This is something that turns so many people away from gas cars and toward EVs, so it’s no surprise that Uber wanted to emphasize this point on a larger scale with a company that utilizes a fleet of vehicles.

Tesla Semi shows strong results in ArcBest’s real-world freight trial

Tesla has been experimenting with a select group of companies, as well. It partnered with PepsiCo. several years ago, in an effort to launch a pilot program for the Semi. It had excellent results, showing higher efficiency, lower costs, and an exceptional ability to handle long runs.

Drivers have had a lot of positive things to say:

Advertisement

Tesla Semi earns strong reviews from veteran truckers

The Semi will enter mass production next year, but we anticipate that some companies will commit to Uber’s new platform well before then.

Continue Reading

Energy

Tesla recalls Powerwall 2 units in Australia

Published

on

(Credit: nathanwoodgc /Instagram)

Tesla will recall Powerwall 2 units in Australia after a handful of property owners reported fires that caused “minor property damage.” The fires were attributed to cells used by Tesla in the Powerwall 2.

Tesla Powerwall is a battery storage unit that retains energy from solar panels and is used by homeowners and businesses to maintain power in the event of an outage. It also helps alleviate the need to rely on the grid, which can help stabilize power locally.

Powerwall owners can also enroll in the Virtual Power Plant (VPP) program, which allows them to sell energy back to the grid, helping to reduce energy bills. Tesla revealed last year that over 100,000 Powerwalls were participating in the program.

Tesla announces 100k Powerwalls are participating in Virtual Power Plants

The Australia Competition and Consumer Commission said in a filing that it received several reports from owners of fires that led to minor damage. The Australian government agency did not disclose the number of units impacted by the recall.

Advertisement

The issue is related to the cells, which Tesla sources from a third-party company.

Anyone whose Powerwall 2 unit is impacted by the recall will be notified through the Tesla app, the company said.

Continue Reading

Cybertruck

Tesla launches Cybertruck orders in a new market with a catch

Published

on

Credit: Tesla

Tesla is launching Cybertruck orders in a new market, but there’s a bit of a catch.

The Cybertruck was launched in the Middle East earlier this year, as Tesla launched the ability to place a reservation for the all-electric pickup in the United Arab Emirates. It would be the first market outside of North America that would have the ability to place an order for the Cybertruck.

Tesla confirms Cybertruck will make its way out of North America this year

Other markets where the vehicle has been widely requested, like Europe and Asia, have still not approved the vehicle to be sold to the public, mostly because of size and design restrictions.

However, in the UAE, Tesla is opening up the ability for those who placed reservations for the vehicle to finally put in their order. The Order Configurator is only available to those who have already placed a reservation; it is not yet available to the public.

Advertisement

Tesla said it would open up the public online configurator across the Middle East in the coming weeks:

The UAE is not the only country that will have access to the Cybertruck, as fans in other Middle Eastern countries will also be able to place orders soon. Tesla announced back in April that Saudi Arabia and Qatar would also have Cybertruck deliveries.

Advertisement

These vehicles will be built at Tesla’s Gigafactory Texas plant just outside of Austin, as Gigafactory Berlin and Gigafactory Shanghai, two factories located in the same hemisphere as the Middle East, do not have established lines for Cybertruck production.

As for the other markets, Tesla CEO Elon Musk has hinted that the company could develop a smaller Cybertruck for those markets, as he admitted that in the long term, it likely made sense to build a more compact version for regions where roads are traditionally tighter.

Elon Musk hints at smaller Tesla Cybertruck version down the road

There has been no evidence of Tesla developing this more compact version, but it could eventually happen.

Advertisement
Continue Reading

Trending