Volvo Joins Emission Coalition at COP27
AB Volvo (publ)
Volvo Cars joined the Accelerating to Zero Coalition, which was launched at the COP27 meeting of the United Nations in Sharm El Sheikh, Egypt.
The Accelerating to Zero Coalition is made up of many groups that all want to make the transition to zero-emission mobility easier and faster.
It expands on last year's COP26 Glasgow Declaration on Zero Emission Vehicles, in which signatories pledged to make all global vehicle and van sales zero-emission by 2040.
"We must work urgently to reorient financial mechanisms to help us stay within the 1.5 degree global warming limit. This can both add stability for investors as well as support a just transition for affected workers and farmers, families, and communities that will be affected as a result of such changes,” said Head of Sustainability Anders Kärrberg.
The goal of forming the coalition is to meet the need for an international platform for global zero-tailpipe-emission vehicle (ZEV) leadership. This will create the right conditions to boost sales of zero-tailpipe-emission cars and vans, including the electrification of corporate fleets and the development of complete charging infrastructure.
“Combustion engines are the technology of the past, and we must abandon them if we are to meet the greatest threat facing humanity – climate change,” said CE Jim Rowan. The announcement comes a week after the launch of Volvo Cars’ new fully electric Volvo EX90. The company intends to launch one new electric car every year in the coming years.
Separately, Volvo Cars joined over 200 other businesses and civil society organisations in signing a call to national governments to increase their climate ambition and delivery, organised by the We Mean Business Coalition.
Despite agreeing to do so under the Glasgow Climate Pact, only 29 of 194 countries have done so since COP26. The call emphasises that 1.5 degrees Celsius of global warming is a limit, not a target and that urgent national action is required if the world is not to surpass this limit.
In addition, Volvo announced its participation in the Call on Carbon initiative. “We recognise the role carbon pricing has in helping tackle climate change,” said Kärrberg, adding, “When announcing our internal carbon price of 1,000 SEK for every tonne of carbon emissions at COP26, we became the first car maker to implement a global carbon pricing mechanism, covering its complete value chain emissions.”
Source: Electric & Hybrid
