BMW Electric Vehicles Strategy Engagement Case Study

This case study documents the engagement between Hermes Investment and BMW, focusing on the company's electric vehicles strategy and public policy advocacy. The engagement began in 2008, with a significant emphasis on the energy transition starting in 2017. Concerns were raised regarding BMW's ambitions and lobbying activities that appeared misaligned with the Paris Agreement. Over five years, Hermes Investment engaged with BMW through various meetings and correspondence, advocating for clearer disclosures on lobbying activities and the importance of aligning with climate benchmarks. The company has since increased its ambitions for electric vehicles, setting interim sales targets and committing to substantial CO2 reductions across its operations. BMW's progress includes plans for significant sales of fully-electric vehicles by 2025 and commitments to transparency in its lobbying efforts. The case study outlines the next steps for BMW, including improving disclosures and developing a just transition strategy to address stakeholder impacts.