Volvo Cars receives highest possible sustainability performance rating from EcoVadis
Along with electrification of cars, Volvo plans to be climate-neutral by 2040
Volvo Cars have received the highest rating for its sustainability performance from EcoVadis, who are a leading provider of corporate sustainability assessments. According to EcoVadis, Volvo Cars’ sustainability performance deserves an Advanced ranking, based on the agency’s methodology.
The resulting platinum medal rating places Volvo Cars in the top one percent among all 75,000 companies assessed by EcoVadis. The accreditation serves as further evidence that sustainability is as important as safety to Volvo Cars and has the highest priority throughout its operations.
Volvo Cars have a comprehensive climate plan which addresses carbon emissions across all its operations and products, towards its ambition to become a climate-neutral company by 2040. The plan goes beyond addressing tailpipe emissions through electrification.
The company will also tackle carbon emissions in its manufacturing network and wider operations, its supply chain and through recycling and reuse of materials. As a first tangible step towards its 2040 vision, the company aims to reduce its lifecycle carbon footprint per car by 40 percent between 2018 and 2025.
EcoVadis highlighted several of the company’s ongoing sustainability activities and initiatives. It positively mentions its CO2-reduction actions across the supply chain, the verification of its sustainability strategy by the Science Based Targets Initiative (SBTI) and Volvo Cars’ work to improve energy efficiency and the efficient use of material and resources.
Elsewhere, EcoVadis also highlights Volvo Cars’ work to promote diversity and inclusion, its initiatives around protecting labour rights, the company’s extensive ethical business training programme and its focus on sustainable procurement around the globe.
Anders Kärrberg, head of global sustainability at Volvo Cars, said: “Sustainability is as important as safety to us at Volvo Cars. We are taking action across the board to ensure we become a more sustainable business, including through reduction of our carbon footprint. It is encouraging that EcoVadis, through its rigid assessment, now confirms that we are on the right track.”