As the 2035 Euro ban on ICEs draws closer, Volvo Cars is setting the bar higher in the fight against climate action. The Swedish automaker has become the first auto manufacturer to sign up for the SteelZero initiative. Volvo Cars commits itself to stringent CO2-based steel sourcing requirements by supporting the group's initiative.
Steel is one of the most widely used materials in the automotive industry and a major source of C02. But despite current technologies existing for production to be decarbonized, steel making is still one of the biggest CO2 emitters globally, responsible for about 7 percent of all greenhouse gas emissions.
Volvo Cars isn't the only company accentuating its position as a leader in climate action. Vattenfall, Iberdrola, and Siemens Gamesa are the latest to sign up for the climate group's initiative using 100% net zero emissions steel for products.
Kerstin Enochsson, chief procurement officer at Volvo Cars, said a sustainable approach to steelmaking is not only good news for the environment but also good business since it limits exposure to future climate risks.
"We are pleased to join the SteelZero initiative and support its ambitions to transform the steel industry. By signaling our demand for responsibly-sourced low-and zero-carbon steel, we aim to help drive an increased supply to our sector," he added.
Building environmentally safe cars isn't a new thing for Volvo Cars. The Swedish carmaker has developed its brand by producing exceptionally safe and comfortable vehicles for its consumers.
Last year, the automaker made an ethical stand for animal welfare. Instead of using leather on its future EVs, Volvo will only use high-quality, sustainable, bio-based materials such as Nordico and textiles derived from PET bottles.
Climate Group launched the SteelZero initiative in partnership with ResponsibleSteel. The initiative brings together leading organizations to speed up the transition to a net-zero steel industry.
Part of Volvo Cars' climate action plan is to be climate neutral by 2040, one of the most ambitious in the auto industry. By signing up for the SteelZero initiative, all four companies, including Volvo, have set targets of using 50% low-carbon steel by 2030, building towards the overall aim of using net-zero steel by 2050.
Volvo Cars isn't the only company accentuating its position as a leader in climate action. Vattenfall, Iberdrola, and Siemens Gamesa are the latest to sign up for the climate group's initiative using 100% net zero emissions steel for products.
Kerstin Enochsson, chief procurement officer at Volvo Cars, said a sustainable approach to steelmaking is not only good news for the environment but also good business since it limits exposure to future climate risks.
"We are pleased to join the SteelZero initiative and support its ambitions to transform the steel industry. By signaling our demand for responsibly-sourced low-and zero-carbon steel, we aim to help drive an increased supply to our sector," he added.
Building environmentally safe cars isn't a new thing for Volvo Cars. The Swedish carmaker has developed its brand by producing exceptionally safe and comfortable vehicles for its consumers.
Last year, the automaker made an ethical stand for animal welfare. Instead of using leather on its future EVs, Volvo will only use high-quality, sustainable, bio-based materials such as Nordico and textiles derived from PET bottles.
Climate Group launched the SteelZero initiative in partnership with ResponsibleSteel. The initiative brings together leading organizations to speed up the transition to a net-zero steel industry.
Part of Volvo Cars' climate action plan is to be climate neutral by 2040, one of the most ambitious in the auto industry. By signing up for the SteelZero initiative, all four companies, including Volvo, have set targets of using 50% low-carbon steel by 2030, building towards the overall aim of using net-zero steel by 2050.
Steelmaking is a major source of CO2 emissions. We want to change that. As the first car maker to join the #SteelZero initiative, we commit to sourcing more zero-carbon steel. By 2050, all the steel we source should be net-zero steel.
— Volvo Cars (@volvocars) May 31, 2022
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