Volvo Cars has announced it is expanding its sustainability strategy, with the Swedish automaker setting new “ambitious” goals for the next decade and beyond. So, let’s take a look at the Gothenburg-based brand’s new sustainability ambitions for 2030.
For starters, Volvo plans to reduce its CO2 emissions per vehicle by 75 per cent (compared to 2018 levels); reduce the energy usage of its operations per average vehicle by 40 per cent (compared to 2018 levels); reach 30 per cent average recycled content across its fleet, with new vehicles, released from 2030, having at least 35 per cent recycled content; reduce water usage by 50 per cent average per vehicle (compared to 2018 levels); and ensure that at least 99 per cent of all waste from its operations can either be reused or recycled.
So, what does the firm plan for the decade beyond 2023? Well, Volvo Cars aims to reach zero greenhouse gas emissions by 2040. According to the carmaker, this expands on its previous ambitions of being climate neutral by the year 2040, and also clarifies its intention to use carbon removals only to mitigate any unavoidable emissions.
In addition, Volvo Cars also believes in taking a complete value chain approach to its impact on biodiversity. However, together with the latter, the automaker will also pursue restorative actions. What’s more, by next year, the manufacturer 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,” said 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.”