462000

Metric Tons of GHG Emissions

avoided as a result of ChargePoint's EV charging solutions

98

Million

charges delivered to date

120

Million Gallons

of gas avoided to date

View Our Analysis

The Path to Drawdown: EV Infrastructure

Internal combustion vehicles still dominate transportation today, but electric vehicles (EVs) are poised to transform that landscape. According to the IEA, there are now 11 million electric passenger cars and vans on the road thanks to supportive policies and falling costs.

The difference in impact on the climate is remarkable. Compared to petroleum-based vehicles, CO2 emissions drop by 50% if an EV’s power comes off the conventional grid. If powered by solar energy, emissions are cut by 95%. Once households purchase EVs, the operating costs for those cars are often cheaper than gas-based cars, too.

But just like ubiquitous gas stations enable internal combustion engines, one critical factor for EVs to become the primary transportation method is a wider adoption of EV charging infrastructure. While most charging of EVs is done at home and work today, publicly accessible charging needs to be rolled out to encourage households without access to private chargers to opt for EVs.

For now, the ratio of chargers to EVs is far lower than where it needs to be in most countries, with the US near the bottom of the ranking among developed countries at 0.06 chargers per EV. Companies and governments around the world are currently implementing policies and incentive programs to expand EV infrastructure networks.

To achieve an all-electric transport sector in line with keeping global warming under 1.5ºC of warming, the IEA projects a dramatic increase in the number of EV chargers globally between now and 2030:

  • <::marker> There were 10.3 million EV chargers in 2020
  • <::marker> There need to be 215.2 million chargers by 2030
  • <::marker> 35.5% CAGR between 2020 and 2030

What We Want to See Improve

Disclose Sustainability Metrics

We're excited that ChargePoint is helping the adoption of EVs across the United States and Europe through their charging stations. But as for ChargePoint's own carbon footprint, there is very little information available on their website or reports. We'd like to see them publish an annual sustainability report that discloses ChargePoint's greenhouse gas emissions, sources of energy use, waste generation, and what they're doing to make their business more sustainable.

Set Clear Targets

Once they disclose sustainability metrics, we'd want to see them set clear targets for reducing their carbon footprint over the next decade to three decades. The goal for all companies at this point in the fight for climate change should be, at the very least, to become carbon neutral. For companies in some sectors (dare we say EV chargers), carbon negative should be the target. We want to see how and when ChargePoint can achieve these goals.

Related EV Charging Station Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description

0.50%

ChargePoint Holdings, Inc. (CHPT)

ChargePoint offers EV charging solutions that integrate with their cloud services to businesses, fleets, and drivers. They’re making EVs more attractive

0.09%

Blink Charging Co. (BLNK)

Blink makes public EV charging equipment and software that lets drivers to easily recharge their EVs. Charging stations are key for electrifying transport.

0.05%

Ideanomics, Inc. (IDEX)

Ideanomics makes commercial EVs, e-bikes and e-scooters, electric tractors, batteries and charging systems. All are critical in electrifying transport

0.02%

Beam Global (BEEM)

Beam Global makes solar-powered EV charging stations for passenger and commercial vehicles. EV charging stations help make EVs more appealing

0.02%

Nuvve Holding Corp. (NVVE)

Nuvve offers a platform that lets EV batteries store and resell energy back to the electric grid. They make EVs more attractive

Attend Our Next Webinar

Attend Our Next Webinar

Join our next Sustainable Investing 101 webinar, get our favorite DIY options, and walk through how we build our portfolios.

Register
Get Our Newsletter

Get Our Newsletter

Go a level deeper with us and investigate the potential impacts of climate change on investments like your retirement account.

Talk To A Human

Talk To A Human

Joining a new investment service can be intimidating. We’re here for you. Click below to email us a question or book a quick call.

Ask a Question