Renewable energy sources
One impactful measure is to replace fossil-based energy with renewable energy sources such as wind, solar, biomass and biofuels. The Volvo Group has production facilities in 18 countries, with approximately 100 sites around the world. Currently, six of our sites are certified as renewable energy facilities, powered by 100% renewable energy, and several sites source parts of their energy from renewable sources.
Although renewable energy is not yet available in all markets, we foresee an increase in supply throughout the world. When available at acceptable pricing conditions, renewable energy is always our first choice.
In 2023, 53% of the total energy sourced by Volvo Group’s operations (production, technology centers, warehouses and dealership sites) was from renewable sources.
With 2019 as baseline, our science-based targets include reducing scope 1 and 2 emissions (those created by our operations and supply chain) by 50% by 2030.
This target is set aiming for the 1.5°C ambition in the Paris Agreement and valid across our global organization