Volvo receives platinum medal in corporate sustainability rating from EcoVadis

EcoVadis awards Volvo highest corporate sustainability accreditation placing it in top one per cent of companies

Volvo Cars has received the highest rating for its sustainability performance from EcoVadis, a leading provider of corporate sustainability assessments, which has assessed over 75,000 companies in 160 countries.

According to EcoVadis, Volvo Cars’ sustainability performance deserves an Advanced ranking, based on the agency’s methodology. The resulting Platinum Medal rating places Volvo Cars in the top 1 percent among all 75,000 companies assessed by EcoVadis.

Volvo claims that this accreditation serves as further evidence that sustainability is as important as safety to Volvo Cars and has the highest priority throughout the company’s operations. Volvo Cars is already planning to manufacture all-electric vehicles exclusively in line with tightening emissions regulations from EU member countries.

“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. It is encouraging that EcoVadis, through its rigid assessment, now confirms that we are on the right track.”

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 plan goes beyond addressing tailpipe emissions through 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.

The XC40 Recharge is the first of many battery electric vehicles planned for Volvo’s product lineup. Image: Volvo Cars

As a first tangible step towards its 2040 vision, the company aims to reduce its lifecycle carbon footprint per car by 40 percent between 2018 and 2025.

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 away from unsustainable and unethical suppliers.

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.

Elsewhere, EcoVadis also highlights Volvo Cars’ work to promote diversity and inclusion, its initiatives around protecting labor rights, the company’s extensive ethical business training program and its focus on sustainable procurement around the globe.