Volvo Cars Achieves Top 1% in EcoVadis Sustainability Rating

[Asia Economy Reporter Ki-min Lee] Volvo Cars announced on the 9th that it has received the 'Platinum Medal Rating,' awarded to the top 1% of companies, in the global corporate sustainability performance survey conducted by EcoVadis, a global sustainability assessment organization.

EcoVadis evaluates over 75,000 companies across more than 160 countries and 200 industries based on four main categories: environment, labor and human rights, ethics, and sustainable procurement.

Volvo Cars was recognized positively for ▲carbon dioxide reduction measures across the entire supply chain ▲a sustainability strategy approved by the Science Based Targets initiative (SBTi) ▲efforts to improve energy efficiency and the efficient use of materials and resources, placing it in the top 1% among all companies. ▲Efforts to promote diversity and inclusion ▲initiatives to protect labor rights ▲a comprehensive ethical business education program and sustainable procurement practices implemented worldwide also received high evaluations.

Volvo Cars has a comprehensive plan to address carbon emissions in all operations and products, aligned with its vision to become a climate-neutral company by 2040. The plan addresses not only reducing vehicle exhaust emissions but also carbon emissions across broader operations, including the manufacturing network, supply chain, and recycling and reuse of materials.

Accordingly, in South Korea, all business sites and brand-hosted events have restricted the use of single-use plastics, and all printed materials used for customer communication have been converted to digital platforms.

Last year, Volvo Cars became the first in the world to completely stop diesel sales and established all models as hybrid lineups (MHEV·PHEV). This year, the brand plans to launch its first pure electric vehicle, the XC40 Recharge.

Anders Karrberg, Head of Global Sustainability at Volvo Cars, stated, "Sustainability is as important a value to Volvo Cars as safety. To this end, we are making company-wide efforts to become a sustainable company, including reducing carbon emissions. It is very encouraging to confirm through EcoVadis's rigorous evaluation that we are currently on the right path."

Volvo Cars XC40 Recharge AWD

[Photo by Volvo Cars]

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