Thursday 5 November 2020

The Volvo Group commits to the Science Based Targets initiative

The Volvo Group has committed to the Science Based Targets initiative and pledged to become a net zero company by 2050.

The Swedish manufacturing company said it will establish a roadmap to reach the targets during 2021 to further accelerate decarbonisation of its operations.

According to figures from a company report, regarding its manufacturing operations, energy-saving projects totalling 170GWh have been implemented since 2015.

Together with an increased share of renewable energy, these have resulted in a 35% reduction in carbon dioxide emissions from the company's manufacturing operations during the period from 2013 to 2019.

Martin Lundstedt, President and Chief Executive Officer of the Volvo Group said: "Being the leader in sustainable transport and infrastructure solutions is good for the company and its stakeholders, but even better for the world.

"With our transformation comes a responsibility to openly and transparently report our progress, now we take the next step and commit to set Science Based Targets."