Volvo Cars joins FMC: A sustainable move for automotive
The Volvo name has been associated with safety for many years, but these days the company focuses on that of the planet as it strives to reduce its carbon footprint. A major component of this is electrification; introduction of a number of electric vehicles (EVs) into its range.
As the COP28 climate summit takes shape in Dubai, discussions over the next few days have, and will continue to, spark further initiatives to generate a more significant rush to reduce emissions that will meet the trends of the modern day. Climate, economy, and technology will all come together to facilitate such a shift.
With extensive commitments in place, Volvo Cars now turns to the World Economic Forum’s (WEF’s) First Movers Coalition (FMC).
What is the WEF’s First Movers Coalition?
The FMC marks a combined effort between businesses to use their purchasing power for early markets and innovative new technologies built to decarbonise and optimise for efficiency. The Coalition targets hard to abate industries that account for 30% of global emissions, which will only increase further with little action to support them.
The initiative was set up as a result of the 2021 COP26 based in Glasgow, UK, and resulted in decarbonisation commitments for industries like aviation, shipping, steel production and trucking.
Volvo’s decarbonisation initiatives aligned with the FMC
Volvo’s impact will be seen through the steel sector as it collaborates with SSAB—a Swedish steel producer—exploring near-zero-emission, high-quality steel for automotive, in which the company continues to electrify.
“COP28 is a historic accountability moment for climate action,” says Javier Varela, Chief Operating Officer and Deputy CEO of Volvo Cars.
“The world urgently needs to come together and act, to avoid the worst effects of climate change. We’re committed to doing our part and we call on corporate and political leaders around the globe to also do theirs.”
Continued innovation in this space sees Volvo deliver many prototypes and commercially available EVs, which are bound by its incredible safety status, and packed with digital technologies such as artificial intelligence (AI) to secure the company’s reputation. The EX90 model showcased some incredible potential with the inclusion of NVIDIA DRIVE, Qualcomm’s Snapdragon Cockpit Platform, and intelligent safety mechanisms supplied by Luminar.
In 2024, drivers can also expect to get their hands on the pure-electric EX30, which is one of the most inclusive Volvo EVs yet. As industries descend on COP28, Volvo will look for further insights and inspiration to inform its vehicle launches in the future and decarbonisation its supply chain and manufacturing.
“We have previously used the COP summits to push collective climate action and COP28 will be no different,” says Jonas Otterheim, Head of Climate Action, Volvo Cars.
“What we and other like-minded companies are trying to do is develop and scale up transformational technologies to decarbonize sometimes ancient industrial processes. By joining the FMC and showing tangible progress in our partnership with SSAB, we hope to demonstrate that this vital shift is not just possible but is already underway.”
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