UntitledIn the trucking industry there is plenty of room for cost savings, health and climate benefits, and economic gains. Freight trucks account for more than 450 million tons of climate-warming emissions per year. Without regulatory change, emissions are projected to increase 40% by 2040. Trucking is the fastest growing single source of greenhouse gas (GHG) emissions in the U.S. Friends Fiduciary joined a group of investors representing more than $13 trillion in managed assets to urge the White House, the U.S. Environmental Protection Agency (EPA), and the U.S. National Highway Traffic Safety Administration (NHTSA) to strengthen the standards in their proposed rule. Specifically, the group is calling for strong standards that require a 40% reduction in heavy truck fuel consumption by 2025. A number of studies and analyses have been conducted by various groups including the American Council for an Energy Efficient Economy, Ceres, Consumer Federation of America, Environmental Defense Fund, Natural Resources Defense Council, Sierra Club, and Union of Concerned Scientists. Collectively, they identified the potential to save 270 million metric tons of GHG emissions annually by 2030, save an estimated 1.4 million barrels of oil per day by 2030, reduce freight costs 3% by 2030 and 7%, or $34 billion annually, by 2040, and save $0.21 per mile by 2040 if strong standards are implemented. As investors, FFC believes strong standards are feasible, cost effective, and represent a significant opportunity to drive economic growth. We recognize the benefits of reduced dependency on oil, protection from oil price volatility, driving innovation in advanced truck technologies, and reduced climate risk. Our hope is that the EPA, with support from the NHTSA and the White House, will incorporate strong standards into their proposed rule, and drive the rule through to regulation. Click here to view letter