With a goal to become climate-neutral by 2040 via a push towards the electrification of the Volvo lineup, Volvo Cars has a stunningly ambitious climate plan. In fact, Volvo Cars was the first major automaker to commit to going all-in on electrification, and the lineup offers a plug-in hybrid variant of every model. Of course, shaking up the Volvo lineup isn't the only thing that our favorite automaker is doing during this leap. Volvo Cars also has a Green Finance Framework in place.
What is a Green Finance Framework?
The Green Finance Framework established by Volvo Cars allows the automaker to gain funding for the electrification of the Volvo lineup through green bonds and green loans. Funds raised are for environmental and climate-related projects. This framework serves to specify exactly how such projects are chosen, managed, and identified so that investors have full transparency.
The Green Finance Framework has also been reviewed by Cicero, and it received the highest possible rating. Cicero specializes in the evaluation of green bond investment frameworks, and they issued the Green Finance Framework a Dark Green rating, which represents the peak of possible ratings.
What else is Volvo Cars doing to go green?
The road to 2040 is paved with projects and plans to go more electric over time. The first big step on this path is for Volvo Cars to reduce its carbon footprint per car by 40 percent by 2025. This step also includes a massive 50 percent reduction in tailpipe emissions per car. But that's not all. Another element of this goal is to reduce operation carbon emissions by 25 percent per car. That includes emissions from manufacturing.
This is just a brief glimpse at what the future holds for Volvo Cars and what it could look like for us here in the Allen and Dallas areas. If you're eager to learn more, please feel free to get in touch with us at our Volvo dealership today!
