Volvo continues its path of sustainability by adding a new piece by joining the initiative SteelZero which plans to contribute to the growth in demand for fossil-free steel, thereby accelerating the transition to carbon neutrality in the global steel industry. The Swedish brand is thus the first car manufacturer to engage in this project, agreeing to respect the stringent requirements for the supply of steel based on CO emissions2 by 2030, for example by ensuring that this is certified ResponsibleSteel (or equivalent) and is produced in sites that have a long-term emission reduction program and a medium-term quantitative target for corporate greenhouse gas emissions .
By 2050, all steel should be zero-emission, in line with the company’s desire to become climate neutral by 2040. “A sustainable approach to steelmaking is not only good news for the environment, but also good news for the business, as it limits our exposure to future climate risks and related regulations”, said Kerstin Enochsson, Volvo Cars Chief Procurement Officer. “We are happy to join the SteelZero initiative and support its transformation goals for the steel industry. By reporting our request for low carbon and zero carbon steel of responsible origin, we intend to contribute to the increase of the offer for our sector “.
SteelZero is a project launched by the Climate Group in collaboration with ResponsibleSteel, a certification and standardization body for the steel industry to which Volvo Cars will also join. Through ResponsibleSteel, Volvo Cars has access to reliable, verified and certified information from third parties about its steel supply chain and related sustainability credentials to ensure responsible sourcing. In addition to the reduction of CO emissions2, ResponsibleSteel focuses on other important aspects of the steel supply chain, such as labor and human rights, commitment to local communities, water use and impact on biodiversity. The decision to join SteelZero is just the latest in a long series of steps taken by Volvo to reduce CO emissions2 in automotive manufacturing. In 2021, for example, the Scandinavian brand signed an agreement with the Swedish steel producer SSAB to jointly deepen the development of high-quality fossil-free steel for use in the automotive sector through the HYBRIT initiative.
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