Volvo Cars Becomes Founding Member of Accelerating to Zero Coalition

Volvo Cars announces joining the Accelerating to Zero Coalition, which will be launched later today at this year’s UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt.

During COP27 and ahead of the forthcoming G8 meeting in Bali, Indonesia, Volvo Cars called on countries to step up their climate action and meet the threat of global warming.

The Accelerating to Zero Coalition consists of a broad group of stakeholders committed to facilitating and increasing the pace of the transition to zero-emission mobility.

It builds on last year’s Glasgow Declaration on Zero Emission Vehicles at COP26. Signatories committed to working towards making 100 per cent of global car and van sales free of tailpipe emissions by 2040 and no later than 2035 in leading markets (Europe, China, Japan and the US).

The formation of the Coalition addresses the need for an international platform for global zero tailpipe emission vehicle (ZEV) leadership. The close collaboration aims to help create the right conditions to boost zero-tailpipe emission cars and vans, including the electrification of corporate fleets and the development of comprehensive charging infrastructure.

Volvo Cars chief executive Jim Rowan will welcome its formation and collaborative approach as part of the Coalition launch during COP27 and encourage more manufacturers to sign the Declaration and join the Coalition.

With its ambition to be a fully electric car company by 2030, Volvo Cars intends to influence the pace of the automotive industry’s transition to full electrification.

He will state: “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.”

The announcement comes a week after the launch of Volvo Cars‘ new fully electric flagship, the Volvo EX90. The company intends 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, organised by the We Mean Business Coalition, on national governments to increase their climate ambition and delivery.

So, only 29 out of 194 countries have done so after COP26, despite pledging to do so under the Glasgow Climate Pact. The call clarifies that 1.5 degrees of global warming are a limit rather than a target and that urgent national action is essential if the world does not exceed this limit.

In addition, during a panel discussion hosted by Volvo Cars, its head of sustainability, Anders Kärrberg, also announced it is endorsing the Call on Carbon initiative. Together with Inter IKEA, H&M Group, SSAB and others, the industry urges governments to introduce a practical policy framework for carbon pricing.

“We recognise the role carbon pricing has in helping tackle climate change,” said Anders Kärrberg. “When announcing our internal carbon price of 1,000 SEK for every tonne of carbon emissions at COP26, we became the first carmaker to implement a global carbon pricing mechanism, covering its complete value chain emissions.”

“By endorsing the Call on Carbon, we are once again demonstrating our willingness to contribute to leading the entire automotive industry towards a more sustainable future. We must urgently work against re-orientated financial mechanisms to help us stay within the limit of 1.5 degrees of global warming. This can both add stability for investors and support a just transition for affected workers and farmers, families and communities that will be affected due to such changes.”

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