As Volkswagen scandal worsens, institutional investors with €12 trillion assets under management are prompting European policymakers to implement stricter vehicle tests for carbon dioxide emissions.
The automaker revealed the CO2 emissions of around 800,000 cars in Europe, including nearly 100,000 petrol vehicles, were understated. VW previously admitted up to 11 million cars worldwide were installed with a software which manipulate nitrogen oxide emissions in officials tests.
European policymakers pledged to to bolster outmoded laboratory test system for vehicle emissions in 2017. Also, they are planning to unveil on-the-road monitoring for NOx emissions using portable equipment.
But the Institutional Investors Group on Climate Change is urging Europe to renew faith in the testing scheme by introducing CO2 emissions monitoring as well.
The material has been provided by InstaForex Company – www.instaforex.com