Geely Holding Targets Carbon Neutrality Across Entire Value Chain by 2045

geely carbon neutrality
  • Geely Holding Group targets carbon neutrality across entire value chain by 2045
  • Joined UNGC with commitment to the ten principles of the Compact and 17 UNSDGs
  • Commitment to ESG elevated with board level Environmental, Social and Governance Committee
  • Sales of plug-in hybrid and battery electric vehicles across the Group increased approximately 94% YoY
  • Total installed solar power capacity in China reach 110MW with appr. 79,548 MWh used
  • Industrial water recycling rates at manufacturing sites reach 97.57%
  • Phase out of single-use plastics across manufacturing bases planned
  • Usage of recycled sustainable materials prioritized in production

Geely Holding Group publishes their Sustainability Reports and the reports can be found here on Geely Holding Group official website.

By joining the United Nations Global Compact(UNGC), Geely committed itself to upholding the 10 principles of the compact that relate to human rights, labour, the environment and anti-corruption as well as contributing  to the 17 UN Sustainable Development Goals in its strategies and operations. By 2045, the Group plans to achieve carbon neutrality across its entire value chain in alignment with these commitments. Individual businesses and brands under the Group have also formulated their own carbon neutrality strategies and goals with step-by-step roadmaps.

  • Geely Auto have announced their goal of achieving carbon neutrality by 2045 and reducing whole vehicle lifecycle carbon emissions 25% by 2025.
  • Volvo Cars have announced their goal of achieving carbon neutrality by 2040, climate neutral manufacturing and operations by 2025, and become a 100% BEV company by 2030.
  • Polestar have announced their goal of introducing a fully carbon-neutral automotive product and eliminating carbon emissions from their supply chain and production by 2030.

Taking sustainability management seriously, the Group has established a board level Environmental, Social and Governance Committee to guide and facilitate sustainability initiatives across its businesses and brands. Furthermore, a Collaboration Steering Group was established consisting of Geely Holding’s CEO and CEOs of affiliated brands and businesses to facilitate resource sharing and mutual empowerment.

The Group’s sales of plug-in hybrids and battery electric vehicles increased approximately 94% year-over-year in 2021, encouraging greener and more sustainable mobility.

Solar power at the Group’s facilities has increased to 110MW, using clean energy for green factories. This year, solar power was used for approximately 79,548 MWh.

In addition to encouraging the use of clean energy, the Group also cares about the impact its operations have on the environment. The company’s industrial water recycling rates have reached 97.57% at its production facilities.

As part of its effort to reduce resource use and waste creation, the Group has adopted circular packaging and encourages the reuse and recycling of sustainable packaging across its manufacturing bases. Recycling targets have been set by the Group with the aim of eliminating disposable single-use packaging.

The use of sustainable materials by the Group has extended beyond just packaging. Across its entire value chain, the Group is prioritising the use of eco-friendly sustainable materials in the manufacturing of vehicles including recycled steel, aluminium, plastics, and natural fibres. Successful implementation can be seen in many of the Group’s affiliated brands products such as the Zeekr 001 chassis made with 15% recycled steel and 25% recycled aluminium alloy, interior fabrics in the Geometry models obtaining the highest-level European eco-friendly material certification, Polestar development of biodegradable composite materials, Volvo’s partnership with SSAB to use fossil-free zero-carbon emission steel.

Geely Holding Group has released an annual Corporate Social Responsibility Reports (“CSR Report”) for eight consecutive years since 2012. In 2020, the “CSR Report” was renamed the “Sustainability Report” to reflect the Group’s commitment to embrace the challenges and opportunities that come with global sustainability.

Delayed due to the initial outbreak of the global Covid-19 pandemic, the 2020 Sustainability Report is concurrently being released with the 2021 Sustainability Report.

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