Volvo is very active in working towards reducing CO2 emissions and the Swedish brand has put forward a plan which will help in saving them billions of emissions. It aims for annual savings of SEK 1 billion and reductions of 2.5 million tonnes in carbon emissions from 2025 using circular business principles.
In order to achieve this, the Swedish firm will focus on resource efficiency and “retaining the value created in materials and components for as long as possible during the lifecycle.”
Volvo will look to eliminate waste re-using materials and components. Earlier also Volvo used to do this by remanufacturing parts such as gearboxes and engines to make better use of material and reduce CO2 emissions. In 2020 alone Volvo remanufactured 40,000 parts and in turn reduced 3,000 tonnes of carbon dioxide emissions.
â€śVolvo Cars has one of the most ambitious climate plans in the car industry, and if we are to reach our goals, we need to embrace the circular economy,â€ť said Anders KĂ¤rrberg, head of global sustainability at Volvo. â€śThis requires us to rethink everything we do and how we do it. We put a strong focus on integrating sustainability into the way we think and work as a company, and we are making it as important as safety has always been to us.â€ť
Volvo has set its sights on becoming a circular business by 2040 under which it will reuse every part made by the firm or its suppliers.