Announced at the Geneva Auto Show, the Global Fuel Economy Initiative (GFEI) hopes to facilitate a major improvement in overall vehicle efficiency by mid century through greater levels of involvement with governments, manufacturers and all other industry stakeholders. Created by a partnership between the UN Environment Program (UNEP), International Energy Agency (IEA), International Transport Forum (ITF) and the FIA Foundation, the GFEI seeks to achieve its "50 by 50" economy gains through a variety of means, from promoting more direct involvement in national and international policy making to encouraging new forms of powertrains and other component innovations that would move towards its ambitious goal.
The GFEI's database indicates that the size of the world auto fleet is set to virtually triple by 2050. To stave off the potential environmental impact that would be caused by the additional greenhouse gas emissions those vehicles would produce, GFEI backers contend that a program to realize its targeted 50-percent fuel economy gain must start now -- and incorporate several interim performance waypoints in 2020 and 2030. If the GEFI is successful in this quest, it projects a total annual savings of six billion barrels of oil and a reduction of two gigatons of CO2 from the atmosphere.