We need to make better use of valuable, and often finite, materials, within our vehicles, operations, supply chain, and at our vehicles’ end of life. That's why we at Volvo Cars are committed to the circular economy. Adopting circular principles will significantly reduce our environmental footprint, reduce costs, and create new revenue streams.
Join us at Stockholm Climate Week on April 18, in the session “Circularity in complex production” at 14.45 CEST, and listen to our expert Owain Griffiths, Head of Circular Economy at Volvo Cars, sharing what we do and how we work. The world’s natural resources are limited. So at Volvo Cars, we’re committed to becoming a circular business – maximizing resource efficiency across vehicles, components, and materials. We’re focused on eliminating waste, making greater use of recycled material, remanufacturing and reusing parts.
In the circular economy, one of the main principles is to recirculate materials and components to ensure they retain a high value for as long as possible.
Circular ambitions in a seemingly square linear industry
We’re committed to emitting less CO2 and using fewer resources by the mid-decade: reducing our value chain CO2 by 2.5 million tons and generating one billion SEK in cost savings and new revenue streams through circular principles. Circular behaviors also bring other environmental benefits, as reducing the need to extract new materials also protects ecosystems and improves biodiversity in areas that would otherwise be mined.
Based on our recently published Annual Report, we can see that since benchmarking our levels in 2018 we’ve made great strides in reducing our production waste and water usage per vehicle and started using more recycled material in our cars. While these are all positive steps to saving resources and reaching our goals, there are still more ways to improve. Limiting climate change is a responsibility we all share, and it is vital that we work together to address this urgent issue. As the automotive industry is part of the problem, we are making a concerted effort to become part of the solution. One of our circular economy ambitions is to significantly increase the share of sustainable recycled and bio-based materials in our cars by 2025. Focusing on sustainability is not only one of our core values but also central to the success of our business strategy.
We aim to be a circular business
By adopting circular material flows, we aim to reduce annual carbon dioxide emissions by 2.5 million tons per year by mid-decade. We believe that working towards climate neutrality, adopting circular economy principles, and conducting business responsibly enhances our brand, attracts new investment, and sustains profitable growth.
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This is big step ahead to commit to circular economy
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Tremendous! we truly need to reach net-zero value chain emissions.
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Circular economy should be embraced by all!
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Congratulations to @Volvo for this great commitment towards creating a habitable environment.
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Some production processes can be very complex but with dedication, circularity is achievable. Well done Volvo.
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Interesting! It's not often you hear the car industry talk about circularity, looking forward to the discussion on the 18th