Volvo Cars has just received acclaim from a third-party company for its climate action plan, one of the most ambitious climate plans in the automotive industry.
Science Based Targets initiative (SBTi) has just scientifically verified Volvo's climate plan, under which the automaker strives to become a climate-neutral company by 2040.
According to SBTi, Volvo Cars’ emissions reduction targets are "in line with the required carbon reduction levels to limit global warming to well below 2°C, compared to pre-industrial levels."
In its validation process, SBTi specifies just how much and how quickly companies work to reduce their greenhouse gas emissions in order to meet the conditions as laid out in the Paris Agreement.
“As a mobility provider, we are part of the problem of climate change, but we can also be part of the solution,” said Hanna Fager, Head of Corporate Functions at Volvo Cars. “We have a responsibility to act. That is why carbon reduction has the highest priority within our company. Having our climate ambitions validated by SBTi gives us valuable reassurance that we are on the right track.”
Volvo Cars launched its comprehensive climate plan last year, addressing carbon emissions across all its operations and its entire product line, towards its vision to become climate neutral by 2040.
The plan goes way beyond addressing just tailpipe emissions through electrification; the company also aims to tackle carbon emissions in its manufacturing network, plants, and wider operations, including its supply chain and through recycling and reuse of waste materials.
As a first, tangible step towards its 2040 goal the company aims to reduce its lifecycle carbon footprint per car by 40 per cent by the year 2025.
The climate plan also includes the following goals: a 50 percent reduction in tailpipe emissions per car, a 25 percent reduction per car in operational carbon emissions, including from manufacturing and logistics, and a 25 per cent reduction per car in supply chain carbon emissions.
Volvo Cars was the first established car maker to commit to an all-out electrification and is the only brand in the world to offer a plug-in hybrid variant on every model in its line-up. The brand is also set to introduce a range of fully electric models in coming years, starting with the XC40 Recharge , deliveries of which will start in late 2020.
Sales of Volvo's plug-in hybrid cars amounted to almost a quarter of its total sales in Europe during the first half of 2020. During the period, Volvo Cars was the number one plug-in hybrid premium brand in the continent as measured by market researcher IHS, and by 2025 Volvo Cars aims for its global sales volume to consist of 50 per cent fully electric cars, with the rest being hybrids.
Photo/s from Volvo