Volvo Reinforces its Dedication to Sustainability Through Its Latest Strategic Objectives

• Volvo is planning to transform into a fully electric vehicle (EV) manufacturer by 2030, targeting a 75% reduction in CO2 emissions per vehicle from the 2018 baseline. Furthermore, the company aims to achieve zero greenhouse gas emissions by 2040.

• The automaker is working towards realizing its sustainability objectives by exclusively offering electric vehicles (EVs) and reducing emissions in both its operations and supply chain by 30%.

Volvo reaffirms its sustainability stance by establishing fresh objectives for 2030 and 2040. This dedication to sustainability underscores Volvo Cars' corporate responsibility and is a proactive response to the increasing consumer demand for eco-friendly vehicles.

Volvo aims to connect all its debt to its Green Financing Framework by the year 2025. CEO Jim Rowan highlights that the transition to electric vehicles (EVs) and strategies to combat climate change represent crucial measures in their sustainability strategy, addressing societal well-being, emissions, and biodiversity.

Since 2019, Volvo has dedicated significant efforts to fulfill its sustainability targets. It has successfully transitioned to 100% climate-neutral electricity in its global production plants, up from the previous 80%. Furthermore, in corporate operations, the company has increased its use of climate-neutral energy to 69%, compared to the previous 55%. Additionally, since 2018, Volvo has effectively reduced CO2 emissions per vehicle by 19%.

Volvo has established a fresh objective of reaching net-zero greenhouse gas emissions by 2040. The automaker places greater emphasis on reducing emissions rather than carbon removal and urges its suppliers to adopt similar practices.

Volvo aims to transition into a fully electric vehicle (EV) manufacturer by 2030, intending to reduce CO2 emissions per vehicle by 75% compared to the 2018 baseline. Through the exclusive sale of EVs and a 30% reduction in emissions across its operations and supply chain, the automaker is working towards fulfilling its objectives.

Volvo is dedicated to embracing a circular economy, aspiring to incorporate 35% recycled material in all models and maintain an average of 30% recycled content across its entire fleet by 2030. Additionally, the company is striving for the recycling or repurposing of 99% of its waste by the same year, reinforcing its commitment to a circular economy.

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