Climate Policy Engagement: Honda receives a grade of D+ in InfluenceMap’s assessment of corporate engagement on climate policy, indicating misalignment with policy to deliver the Paris Agreement.
Forecasted 2030 Production: 24% of Honda's light-duty vehicle production in 2030 is forecast to be electric vehicles (24% battery electric vehicles (BEVs), 0% plug-in hybrids, and 0% fuel cell electric vehicles (FCEV)). This compares negatively to the IEA’s 1.5°C scenario, which estimates that 66% of all car and van sales must be electric (BEV, PHEV or FCEV) by 2030 to meet a 1.5°C global temperature goal.
Climate Lobbying Overview: Honda has strategic engagement with climate regulations in the US, UK and Japan in 2022-24. While the company generally appears to have positive top-line statements on climate policy, it has strongly opposed legislation that explicitly favors battery electric vehicles (BEVs) over hybrid vehicles, including opposing ZEV mandates in multiple regions. Honda has also opposed the US light-duty GHG emissions standards and corporate fuel economy (CAFE) standards.
The full climate policy engagement profile of Honda Motor is available here.
Internal decarbonization targets: Honda has set a target of achieving carbon neutrality "for all products and corporate activities Honda is involved in by 2050." Honda has set a target of achieving 100% zero emission vehicle sales by 2040, with an interim 2030 target of 15% for motorcycles, 30% for automobiles, and 36% for power products. The company’s 2023 annual report did not include a target for 100% electric vehicles, but instead included a target of 100% electric vehicle and fuel cell vehicles by 2040. The company has committed to 80% BEV sales by 2035 in all ‘major markets’.
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Honda's forecasted fleet composition by technology: The IEA determined in its 2023 1.5C road transport scenario that 66% of all light-duty vehicle sales must be electric (battery electric vehicles, fuel cell electric vehicles and plug in hybrids) by 2030 to meet the Paris Agreement’s 1.5°C goal. Globally, Honda’s 2030 production forecast is misaligned with the IEA’s scenario. In 2030, Honda is forecast to produce 24% electric vehicles (24% BEVs, 0% PHEVs and 0% FCEV), 50% ICE-powered hybrids and 26% combustion engine.
Honda’s forecasted vehicle size: Larger vehicles are a significant cause of increased GHG emissions from road transport, with smaller vehicles across different technologies generally producing fewer emissions. Honda’s 2023 combined percentage proportion of SUVs and light commercial vehicles is approximately 49%, however this proportion is projected to increase to 55% through 2030.
Honda's electric vehicle production compared: 24% of Honda’s vehicles produced in 2030 are forecast to be electric (battery electric vehicles, plug-in hybrids or fuel cell electric vehicles), compared to an average of 53% for all automakers.
