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Global carmakers are currently hiding a massive 33% carbon gap, effectively operating as oil companies in disguise. Ben Scott from Carbon Tracker joins us to reveal why legacy auto giants face a "Kodak moment" as they lag behind the electric vehicle transition. We explore how China’s EV dominance empowers the Global South to leapfrog fossil fuel dependency for strategic industrial survival. This conversation is essential for those interested in tracking how capital markets will soon reprice these hidden emissions as high-risk energy liabilities.

Reference: Oil Companies in Disguise

ABOUT BEN: Ben Scott is Head of Energy Demand and leads the automotive research at Carbon Tracker, a financial think-tank working to align capital markets with climate reality. Prior to Carbon Tracker, Ben worked at MUFG Bank in London, where he provided financial and industry analysis on the automotive sector to help manage the bank’s credit exposure and risk appetite. He has also worked directly within the automotive industry at Aston Martin Lagonda. Ben began his career at IHS Markit, where he led the E-Mobility research service, focusing on decarbonisation and emissions legislation. Ben holds a degree in Physics from the University of Leeds.

Recommendations:

1. Cleaning Up: A podcast hosted by Michael Liebreich that features insights into the energy transition through interviews with CEOs, politicians, and climate finance experts. Link
2. Capital in Transition: A podcast series produced by Carbon Tracker that focuses on the financial research and analysis surrounding the global energy transition. Link (Spotify) Link (Apple)
3. There Will Be Blood: A film starring Daniel Day-Lewis that depicts an oil tycoon’s ruthless pursuit of wealth and power. Link

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli  |  MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.