Volvo Cars Spearheads Environmental Initiatives with Ambitious CO2 Reduction Plan
November 30 2023,
In the wake of the upcoming COP28 climate summit in Dubai, Volvo Cars has intensified its commitment to environmental sustainability. The automotive giant has announced a groundbreaking goal: slashing CO2 emissions per car by an impressive 75% by 2030, compared to 2018 levels. This initiative is a leap forward in Volvo’s quest for climate neutrality by 2040.
Transition to Electric Vehicles
A pivotal aspect of Volvo's environmental strategy is the shift towards electric vehicles (EVs). Volvo’s target to reduce CO2 emissions per car by 40% from 2018 to 2025 is well underway, with a 19% decrease achieved in just the first nine months of 2023. The company’s ultimate goal is to sell only electric cars by 2030, eliminating tailpipe emissions entirely from their new car lineup.
Advancing with Sustainable Material Innovations
Volvo’s commitment extends beyond vehicle emissions to the materials used in car production. Joining the World Economic Forum’s First Movers Coalition signals a strategic investment in emerging clean technologies, particularly near-zero emission aluminum. Volvo’s collaboration with SSAB, a leading Swedish steel producer, aims to introduce near-zero emission steel into their vehicles by 2026, marking a significant step in sustainable manufacturing practices.
Electric Vehicle Development and Operational Sustainability
In line with its electrification goals, Volvo recently unveiled the fully electric EX30 SUV, featuring the smallest carbon footprint of any Volvo car to date. Volvo's dedication to electrification is underscored by electric cars making up 16% of their total sales in the first three quarters of 2023. The company is also gradually moving away from internal combustion engines, with plans to cease production of diesel-powered cars by early 2024.
Addressing Emissions Across the Board
Volvo’s environmental action isn’t limited to vehicle emissions. The company is actively working to cut CO2 emissions by 30% in its supply chain and operations by 2030, compared to a 2018 baseline. Notable achievements include reaching 100% climate-neutral electricity in all Volvo plants worldwide and shifting 86% of their intercontinental ocean freight from fossil fuel to biofuel, significantly reducing CO2 emissions.
Volvo Cars is adopting a multifaceted approach to combat climate change, encompassing both vehicle-related and operational strategies. By setting bold emission reduction targets, transitioning to electric vehicles, utilizing sustainable materials, and enhancing operational efficiencies, Volvo is leading the way in the automotive industry's fight against global environmental challenges.
