Our ambition is that all products delivered from the Group by 2040 enable our customers to go 100% fossil free. This is needed to reach the ambitions of the Paris Agreement and net zero emissions in the industry by 2050.
This transition requires collaboration never before seen and Volvo Group works with both governments and industry associations to help inform the debate. Our approach takes a science-based approach based on life-cycle impact.
The Volvo Group acknowledges that there is not one single solution to reduce emissions, but different segments and markets will need to use a range of technical solutions to decarbonize. In our work we see the main ones being:
With this approach, we support and advocate for the ambitions of the Paris Agreement’s goal to limit the rise in global average temperatures this century to well below two degrees Celsius above pre-industrial levels, and strive to limit the warming to 1.5° C. We also seek to use our memberships in industry associations to support this ambition.
As part of our annual reporting we provide a list of memberships in our main markets.
We follow the agenda development more closely in a number of organizations to secure that our membership does not hinder the transition but contributes positively in advocating for the goals of the Paris Agreement.
We are in the process of strengthening our governance around lobbying activities throughout the company and to perform risk-based reviews of our direct and indirect corporate climate lobby activities. We will start making relevant disclosures in alignment with the IIGCC’s recommendations as we progress in this work.
Volvo Group's advocacy efforts, direct or indirect, related to public policy are based on the following guiding principles, set by the Executive Board:
In addition to trade organizations, the Volvo Group collaborates in a number of specific cross-industry groups to progress carbon neutral transportation such as:
Science Based Targets initiative (SBTi) - a partnership between CDP, the United Nations Global Compact, World Resources Institute and the WWF. The purpose is to provide technical assistance and expert resources to companies who set science-based targets in line with the latest climate science.
H2Accelerate - an industry collaboration focusing on creating the conditions for the mass-market roll-out of hydrogen trucks in Europe.
Energy Transition Commission - a global coalition from across the energy landscape committed to achieving net-zero emissions by mid-century.
The Global Battery Alliance - a public-private collaboration platform working to help establish a sustainable battery value chain.
Responsible Minerals Initiative - a broad industry collaborative platform addressing responsible mineral sourcing issues in global supply chains. Develop and provide tools and resources to make sourcing decisions that improve regulatory compliance.