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Volvo Group
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Volvo Group at World Economic Forum: “Tight collaboration between purchasing and engineering accelerates going net zero"
During the 2023 World Economic Forum in Davos, Switzerland, Volvo Group hosted a summit for the First Movers Coalition, gathering business executives and government officials for an open dialogue on how to accelerate Decarbonization Through Procurement Innovation. The summit was hosted by Martin Lundstedt, President and CEO of Volvo Group, who emphasized the importance of indirect, or scope 3, emissions for companies.
It is crucial that companies work with organizations like the Science Based Targets Initiative to ensure that their entire carbon footprint, including emissions that come from suppliers, products, and services, are accounted for and reduced. Volvo Group is working towards making all products fossil-free by 2040.
Volvo Group hosted the First Movers’ Coalition Summit at the World Economic Forum in Davos, inviting leaders from business and government to discuss net zero partnerships.
Secretary John Kerry, the U.S. Special Presidential Envoy for Climate Change, joined the summit to explain why he founded the First Movers’ Coalition, as well as his enthusiasm regarding the action they take: “We have a brave group of really smart, creative, visionary CEOs, and obviously their whole value chain of personnel within their companies, who have come together to say that we’re going to do our part to try to help accelerate this transition. And what we’re finding is that when we send a demand signal through the marketplace [for green products], there are so many ways that people can make a difference.”
The key to success for Volvo Group’s work on decarbonizing through procurement innovation comes from Purchasing and Technology working close together and in parallel, as opposed to historically more sequential work in silos. This way of working at Volvo Group was presented by two Volvo Group representatives: Andrea Fuder, Chief Purchasing Officer, and Lars Stenqvist, Chief Technology Officer. They shared their joint way of working in the transition toward net zero. The key is innovating new technologies to eliminate the tailpipe emissions of our trucks, while at the same time working with purchasing and suppliers to reduce the emissions tied to our materials and construction.
The First Movers Coalition is now composed of 70 global companies with high-level commitments to decarbonizing their company, including supply chain and end customers. The list of high-level speakers during the summit included executives from Vestas, EY, Breakthrough Energy, and the Swedish government.
We encourage you to watch the whole summit below:
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All the right signals from Volvo
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Wonderful signal
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An encouraging signal from Volvo
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Really encouraging to see this coalition of global corporations leading the way! Thank you Volvo for hosting!
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Definitely a strong signal for other players in the industry. Great example set by Volvo!
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Important message - the solutions are there to reach the 2030 climate goals - it is up to us to use them.
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Great event, with very interesting discussions about the First Movers Coalition, an impactful initiative!
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This summit is a great example of how progressive companies can work together to tackle climate change.
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This was a very good discussion. Thanks for leading the way and inspiring others to follow Volvo!