Vw Stellantis Renault Among Firms Fined 458 Million By E
Bloomberg2 days
EU Fines Automakers $495M Over Recycling Cartel
Above: General view of the European Quarter buildings in Brussels, Belgium. Image copyright: Alberto Pezzali/Contributor/NurPhoto via Getty Images
The Spin
Narrative A
The cartel's activities directly undermined environmental progress by suppressing competition in recycling innovation. These coordinated efforts deliberately kept recycling standards at minimum legal requirements rather than allowing market forces to drive improvements. The manufacturers' actions effectively stifled potential advancements in vehicle recycling technology and practices.
Narrative B
While this egregious example of suppressing environmental innovation has rightly been addressed, this story is an outlier in a far more positive progression towards a 'fourth wave' of environmentalism in the form of business. It is only recently that consensus about the importance of environmentalism has been reached, yet businesses are now on a journey towards aligning their economic goals with environmental ones. Industry retains its positive outlook on the ability of technological innovation to boost sustainability.