By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
    Leapmotor presents its range at Automobile Barcelona, Spain
    May 14, 2025
    Alfa Romeo sporting glory dominates “Fuori Concorso”
    May 13, 2025
    Market Art Fair Stockholm and BMW Sweden present Gregor Hildebrandt as artist for BMW Art Commission 2025
    May 13, 2025
    Driving Trade Forward: AfCFTA, AGOA,BRICS and the Tariffs – All On The Menu At Automechanika CEO Breakfast
    May 9, 2025
  • Bikes
    BikesShow More
    Desmo450 MX: Production of the first Ducati Motocross bike begins
    May 28, 2025
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new BMW R 1300 RS
    May 2, 2025
    BMW Motorrad presents the new BMW R 1300 RT
    April 30, 2025
    Honda NC750X Named Winner in 2025 Red Dot Design Award
    April 10, 2025
  • News
    NewsShow More
    Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
    May 29, 2025
    Mazda Production and Sales Results for April 2025
    May 29, 2025
    Nissan production, sales, and exports for April 2025
    May 29, 2025
    Honda Production, Sales and Export Results for April, 2025
    May 29, 2025
    Škoda Auto marks 55 years since production of the Skopak began in Pakistan
    May 29, 2025
  • Concepts
    ConceptsShow More
    FIAT unveils the manifesto Grande Panda 4×4
    May 20, 2025
    Renault 4 Savane 4×4 Concept makes its global debut at Roland-Garros 2025
    May 16, 2025
    Hyundai Motor and Plus Unveil Concept for Autonomous Hydrogen Freight Ecosystem at ACT Expo 202
    May 2, 2025
    Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line
    April 5, 2025
    Kia and LG Electronics Partner to Showcase New PBV Concepts for Work and Play
    April 4, 2025
  • Interviews
    InterviewsShow More
    Kosmas “Dudie” Mamaloukos – The Formidable Racing Talent
    May 15, 2025
    Hi-Range Safari City
    Hi-Range Safari City – The Premier outfitter for 4×4 customization
    May 15, 2025
    BEHIND THE SCENES: ARCHIE RUTHERFORD ON WHAT IT TAKES TO BRING THE W2RC TO SOUTH AFRICA
    May 9, 2025
    Europe and China’s automotive future in a shifting global order
    May 5, 2025
    Sourcing Guide Right-Hand Drive American SUVs and Pickup Trucks in Africa
    April 29, 2025
  • EVs
    EVsShow More
    SEAT S.A. moves towards electric car production in Martorell
    May 29, 2025
    Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
    May 29, 2025
    All-New Nissan MICRA EV debuts ahead of European launch
    May 28, 2025
    BMW Group and Solid Power are testing all-solid-state battery cells in a BMW i7
    May 20, 2025
    Toyota Debuts Stylish, Powerful 2026 C-HR Battery Electric Vehicle
    May 18, 2025
  • Motosport
    MotosportShow More
    43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
    May 29, 2025
    Lærke Rønn, Alexia Danielsson, Rasmus Vendelbo, Porsche Sprint Challenge Scandinavia, 2025, Porsche AG
    The schoolgirl who’s just won her debut GT race
    May 28, 2025
    Porsche with new qualifying record and ongoing points streak ahead of China
    May 28, 2025
    Nissan Formula E Team looking to reinforce championship lead in Shanghai
    May 28, 2025
    Opel Mokka GSE Rally: A New Star in Electric Rallying
    May 28, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    MAN development team for autonomous driving is ‘Engineering Team of the Year’
    May 29, 2025
    Scania to start deliveries of new electric buses to northern Sweden
    May 29, 2025
    From left to right: Jens Böther, Regional Council; Nikolas Wenzel, Managing Director of MOIN; Claudia Kalisch, Mayor of Lüneburg; Alex Meier, Depot Manager; Nils Richert, Daimler Buses
    Daimler Buses builds a completely new electric bus depot for a customer for the first time
    May 28, 2025
    600 km range and superfast charging – meet Volvo’s new electric truck
    May 20, 2025
    Vandijck Transport tests the eActros 600 on a long-haul route of over 1,500 kilometers
    Vandijck Transport tests the eActros 600 
    May 18, 2025
  • Reviews
    ReviewsShow More
    GR Supra pushes performance limits with A90 Final Edition and Lightweight EVO
    May 28, 2025
    The new BMW M2 CS
    May 28, 2025
    Defender upgraded: The unstoppable 4×4 is now even more distinctive 
    May 28, 2025
    From vision to Veyron: the evolution of a Bugatti icon
    May 17, 2025
    The new Mercedes-Maybach SL Monogram Series
    May 13, 2025
  • Tech
    TechShow More
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
    Artificial intelligence: Audi boosts production efficiency
    May 28, 2025
    Greater efficiency and productivity with artificial intelligence – generative AI in BMW Group Purchasing
    May 19, 2025
    Aston Martin debuts Apple CarPlay Ultra for iPhone users
    May 16, 2025
    Mercedes-Benz customers in Germany can now purchase and pay for e-Vignettes directly from their vehicle
    May 15, 2025
Hot News
SEAT S.A. moves towards electric car production in Martorell
Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
Mazda Production and Sales Results for April 2025
Latest News

Domenico Nucera to lead Board of Europe’s bus and coach manufacturers

Reviews

Lamborghini Temerario makes its debut in Taipei

Latest News

naamsa RELEASES OCTOBER 2023 STATS, AWAITS POLICY FOR NEW EVs

Motosport

2025 Simola Hillclimb – King of The Hill Results

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Latest News

Volvo Cars reconfirms its commitment to sustainability

Itumeleng Garebatshabe
Last updated: January 12, 2024 16:45
By Itumeleng Garebatshabe
506 Views
9 Min Read
Share
9 Min Read
Volvo EX30 exterior
SHARE

Volvo Cars is expanding its sustainability strategy, setting new ambitious goals for 2030 and 2040. The company is also boosting its focus on biodiversity, and by 2025, the company aims to have 100 per cent of its debt linked to its Green Financing Framework or in a sustainability-linked format.

Taking actions to combat climate change is non-negotiable and going fully electric is an important step on our pioneering journey,” says Jim Rowan, CEO of Volvo Cars. “As we move to further reduce emissions throughout our value chain, we have a responsibility to do more and address our biodiversity footprint as well as help improve people’s lives. Our updated strategy has been designed to help us do just that.”

Volvo Cars’ new sustainability ambitions for 2030 in short:

- Advertisement -
Ad image
  1. Reduce its CO2 emissions per car by 75 per cent (compared to 2018 levels). 
  2. Reduce energy usage in its operations per average car by 40 per cent (compared to 2018 levels).
  3. Reach 30 per cent average recycled content across its fleet, with new car models having at least 35 per cent recycled content.
  4. Reduce water use in its operations by 50 per cent average per car (compared to 2018 levels).
  5. At least 99 per cent of all waste from its operations to be either reused or recycled.


Since the release of the sustainability strategy in 2019, Volvo Cars has made progress towards its climate action targets. For example, 69 per cent of company operations are now powered by climate-neutral energy compared to 55 per cent in 2019, and 100 per cent climate neutral electricity is now used across its manufacturing plants globally, compared to 80 per cent in 2019. Additionally, Volvo Cars has reduced its CO2 emissions per car by 19 per cent since 2018.

Net zero greenhouse gas emissions by 2040
Volvo Cars’ aim now is to reach net zero greenhouse gas emissions by 2040. This expands upon our previous ambitions of being climate neutral by 2040, and clarifies the company’s intention to use carbon removals only to mitigate any unavoidable emissions. The company’s first priority remains to reduce real emissions before turning to carbon removals, and encourages its suppliers to do the same.

This will be underpinned by an ambition to achieve 100 per cent green debt or sustainability-linked financing of assets by 2025 – in recognition of the fact that finance plays a critical role in advancing sustainable development.

2030 is a milestone year for the company. By then it plans to be a fully electric car company while also aiming to reduce CO2 emissions per average car by 75 per cent compared to its 2018 baseline. The company believes that through a combination of only selling fully electric cars and reducing emissions by 30 per cent from both its supply chain and operations per average car, it will be on track to meet the CO2 reduction goals.

Working towards becoming a circular business by 2040
At Volvo Cars, embracing the circular economy has been in focus since 2019. Recycled material already comprises a larger proportion of materials in newer Volvo cars than ever before. For example, nearly 25 per cent of all aluminium in the Volvo EX30 is recycled while approximately 17 per cent of all steel and plastic in the car comes from recycled sources as well.

Volvo Cars aims to use 30 per cent average recycled content across its fleet by 2030, and for new car models released from 2030 to contain at least 35 per cent recycled content. The company is also striving to ensure that by 2030, 99 per cent of all its waste is either reused or recycled compared to recycling 94 per cent of global production waste in 2022.

Striving to be net positive and to contribute to a nature positive future
Volvo Cars believes in taking a complete value chain approach to its impact on biodiversity. In addition to taking action to reduce impact, it will also pursue restorative actions.

To uncover how Volvo Cars’ actions affect biodiversity, the company conducted an impact assessment using production and sales data from 2021, to estimate its annual biodiversity footprint using the ReCiPe model. Using the findings as a baseline, Volvo Cars is now setting a long-term ambition to strive to be net positive across its value chain and to contribute to a nature positive future.

This will require a mixture of short-term and long-term measures that Volvo Cars is currently developing, such as avoiding and reducing the impacts of its value chain, designing a programme for restoration and conservation activities within ecosystems where it operates / sources from, and working together with supply chain partners to establish awareness on biodiversity issues.

Help protect people’s lives within and beyond the value chain
Volvo Cars wants to have a positive impact on society. The company has for example taken steps to help protect people by focusing on its injury rate (LTCR). The current injury rate (LTCR) is 0.07, an industry-leading effort, but the goal is to further reduce the workplace injury rate to 0.02 by 2030. Throughout its value chain, Volvo Cars is also working hard to help safeguard human rights through risk-based due diligence processes to trace, identify, assess and address human rights risks.

Together with like-minded partners, Volvo Cars looks forward to unveiling new social and environmental initiatives in the year ahead, aimed towards helping protect people and the planet.

The small print

  • On across its fleet by 2030: This refers to all models currently being produced at that time.
  • On net positive across its value chain: Aiming towards net positive means that Volvo Cars will take actions to avoid and reduce its impacts, as well as engage in restoration and regeneration of nature to the extent that it positively balances its negative impacts.
  • On nature positive: Volvo Cars’ aim to contribute towards nature positive means that it will not only aim to be net positive but also aim at continuously reducing its negative impact relative to a 2021 baseline. 
  • On injury rate (LTCR): Injury rate (LTCR) is defined as the number of work and occupational accidents reported with at least one day sick leave, divided by hours worked and multiplied by 200,000.
  • On risk-based due diligence processes to trace, identify, assess and address human rights risks: Risk-based due diligence processes implemented globally to assess the potential or actual adverse impact and prioritise actions to cease, prevent, mitigate and remedy identified human rights violations. The processes should fulfil upcoming EU Corporate Sustainability Due Diligence Directive (CSDDD) and its human rights compliance programme. This includes a responsible sourcing management system aiming to introduce a formalised and consistent process to proactively manage human rights and environment-related risks in Volvo Cars’ supply chains for all its identified Raw materials of concern (RMOC)
  • On together with like-minded partners: Recent examples in this space are Volvo Cars’ financial and in-kind support to Save the Children and UNICEF’s Ukraine response and collaboration with Girls Who Code.
TAGGED:Green Financing FrameworksustainabilityVolvo Cars

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow
- Advertisement -
Ad imageAd image

You Might Also Like

Latest News

Volvo Cars reports new global sales record in 2024

By Itumeleng Garebatshabe
January 7, 2025
Latest News

Volvo Cars sales up 18 per cent in August

By Itumeleng Garebatshabe
September 6, 2023
Latest News

Volvo Cars to establish a mobility innovation centre for emerging technologies

By Itumeleng Garebatshabe
February 7, 2024
Latest News

Volvo Cars appoints new head of procurement and supply chain

By Itumeleng Garebatshabe
September 13, 2023
Latest News

New Volvo Car Design Studio opens in Shanghai

By Itumeleng Garebatshabe
May 10, 2023
Latest News

Volvo Cars sales increased 10 per cent in Q1 2023

By Itumeleng Garebatshabe
April 27, 2023

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Made by Intellegere Media. All rights reserved. 2023

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner