Here Is Volvo's Latest Sustainability Action
Volvo has become the first car maker to sign up for the global SteelZero initiative, to potentially help quicken the transition to fossil-free steel for our industry and beyond.
Climate change poses a genuine threat to our planet and all the beings living on its surface. As the globally successful car maker that Volvo are, they understand and recognise that they’re a part of the problem. The good thing about it is that Volvo also can and will be part of the solution!
Volvo’s action plan for fighting climate change is already one of the most ambitious in the auto industry. As you may know, the Swedish brand aims to be climate neutral by 2040 and a fully electric car maker by 2030. They have now taken yet another step that points the brand and the world we live in towards a greener and more alluring future.
Volvo can’t overlook the fact that the process of making the steel that their models are made of is one of the major sources of CO2 emissions for the automotive industry. In fact, last year it represented an average of 33 per cent of all production-related emissions for a new Volvo car. Bottom line, steel must become cleaner, which very fittingly is perfectly in line with the Scandinavian manufacturer’s fossil-free ambitions.
On May the 30th, 2022, Volvo became the first car maker ever to join the SteelZero initiative, which aims to increase demand for fossil-free steel and accelerate a transition to carbon neutrality in the steel industry. Signing up means Volvo commits itself to stringent CO2-based steel procurement targets, by 2030. By 2050, all of the steel they source should be net-zero.
Kerstin Enochsson, Volvo’s Chief Procurement Officer says: “A sustainable approach to steelmaking is not just good news for the environment, it is also good for business. We are pleased to join the SteelZero initiative and support its ambitions to transform the steel industry. By signalling our demand for low and zero-carbon steel, we aim to help drive an increased supply to our sector.”
SteelZero was launched by ResponsibleSteel, a steel industry-wide standard and certification body that they’re also joining. But it’s not just about Volvo committing to things; they will also gain access to reliable, third-party verified and audited information about our steel supply chain and relevant sustainability credentials – all of which will help them ensure that the steel in our cars is responsibly sourced.
As well as CO2 reductions, ResponsibleSteel also focuses on other important issues in the steel supply chain like labour and human rights, engagement with local communities, water use and biodiversity impact.
If you’re an avid follower of Volvo news, you’ll know that the SteelZero signing is not their only initiative to address one of car-making’s most intensive sources of CO2 emissions. Last year, they announced a collaboration with Swedish steel maker SSAB to jointly explore the development of fossil-free, high-quality steel for use in the automotive industry.
With today’s actions, Volvo is underlining its commitment to limiting the impact it has on the environment and to constantly reduce emissions wherever possible.