Geely Holding aims for carbon neutrality across the entire value chain by 2045
Shanghai (Gasgoo)- Zhejiang Geely Holding Group (“Geely Holding”) aims to achieve carbon neutrality across the entire value chain by 2045, according to the 2021 sustainability report it released on June 27.
Geely Holding said it has completed GHG emissions verification (Scope 3) and its 11 manufacturing bases have been classified as nationally green factories by China’s Ministry of Industry and Information Technology (“MIIT”) ).
The group has invested more than 140 billion yuan ($20.94 billion) in R&D over the past 10 years and has so far held around 18,000 valid patents.
Geely Holding recorded a total vehicle sales volume of more than 2.2 million units in 2021. Notably, its 2021 New Energy Vehicle (“NEV”) sales jumped 94% year-on-year. ‘other.
Photo credit: Geely Holding
The group also unveiled the carbon emission reduction targets set for each brand. Geely Auto is committed to reducing total carbon emissions over the lifecycle of a single vehicle by 25% by 2025 (compared to 2020) and to achieving carbon neutrality by 2045. Volvo Cars is committed to expects battery electric vehicles (“BEVs”) to account for 100% of its annual sales by 2030. Youxing Technology has the ambition to achieve operational carbon neutrality and net zero emissions for all mobility orders from by 2023 and 2035 respectively. Polestar hopes to launch a climate-neutral car in 2030 and become a climate-neutral company (scope 1-3) in 2040.
Geely Holding said it has integrated sustainability across the entire value chain, from raw material selection and design to manufacturing, packaging, logistics and recycling. For example, the frame of the ZEEKR 001 is made of 15% recycled steel and 25% recycled aluminum alloy. Starting with the new C40 Recharge, all new fully electric Volvo models will be completely leather-free.
When it comes to green manufacturing, Geely Holding aims to achieve three zeros in the production and manufacturing cycle: zero waste water discharge, zero waste discharge and zero hazardous substance discharge.
In 2021, Geely Auto’s installed photovoltaic capacity reached 110MW and its recycling rate of industrial water resources reached 97.57%. Meanwhile, the disposal of solid waste and the discharge of sewage, waste gas, noise and other pollutants at each of Geely Auto’s production bases were 100% up to standard.