Volvo Cars was honored for its overall sustainability performance by EcoVadis, which provides corporate sustainability assessments, according to the automaker.
Volvo Cars’ sustainability performance achieved an advanced ranking from EcoVadis, based on the agency’s methodology, according to the company. The resulting “Platinum Medal” rating places Volvo Cars in the top 1% among all 75,000 companies assessed by EcoVadis.
EcoVadis looks at how companies implement sustainability across their supply chain. International companies in a variety of industries, and in particular large fleet buyers, use the ratings published by EcoVadis for their purchasing decisions to move more toward sustainable suppliers, the automaker said.
“Sustainability is as important as safety to us at Volvo Cars,” said Anders Kärrberg, head of global sustainability 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.”
Volvo Cars has 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 company said.
Beyond vehicle 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 toward its 2040 vision, the company aims to reduce its lifecycle carbon footprint per car by 40% heading into 2025.
The methodology used by EcoVadis is based on international sustainability standards and supervised by a scientific community of sustainability and supply chain experts, according to the company.
To date, EcoVadis has rated over 75,000 companies globally. When assessing companies, it divides its report based on four main categories: environment, labor & human rights, ethics and sustainable procurement.
In its rating of Volvo Cars, 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.