Polestar reduces relative CO2 emissions by eight percent in continued efforts to decouple business growth from increased emissions
- Relative CO2e-emissions reduced by eight percent compared to 2021, during a year of record global volume growth
- Polestar on track towards its climate goal of halving emissions by 2030
- Updates include increased traceability on risk materials and new partners to the Polestar 0 project
The Swedish EV-maker confirms it has reduced relative CO2e-emissions per car sold by eight percent compared to 2021 levels, and this during a year of record global volume growth, as the company delivered nearly 51,500 cars in 2022, an increase of 80 percent since 2021. While absolute emissions have increased as a result of the scale-up, relative emissions on a per-unit-basis have reduced by 13 percent since 2020. This is the second consecutive year the company combined rapid growth with carbon cuts. This puts Polestar on track towards its goals of halving relative emissions by 2030.
The reductions come down to several factors, for example reduced average transports, high sales in markets with more renewable energy on grids, but also ongoing updates, pushed through by Polestar’s sustainability team within its car programs. One example of this is a change of supplier providing aluminum for the wheels and battery trays for Polestar 2, where a change to a hydro-powered smelter resulted in a 1.2 tonne reduction per car. Other contributing factors are the factory where Polestar 2 is built now running on 100 percent renewable electricity, as well as a diversified product portfolio with a larger share of single motor vehicles which have a lower energy demand during production.
Fredrika Klarén, Head of Sustainability at Polestar, says: “We wear our emissions on our sleeve – measuring and scrutinizing every detail ensures we keep our eye on the ball. Electrification alone is not enough and pure EV-makers like Polestar have a lot of work ahead of us. Our focus remains unchanged as we double down on cutting emissions in our supply chain.”
In addition to their environmental footprint from production, EVs also come with a social footprint. Polestar uses blockchain to trace risk materials back to the mine, mitigating social and environmental risks in complex supply chains. Material traceability is now increased to include cobalt, mica, lithium, nickel as well as leather and wool.
The Polestar 0 project, the company’s goal to create a truly climate-neutral car by 2030, has now been joined by over 20 leading players from various industries, all focused on finding solutions to eliminate CO2e and re-think processes, instead of relying on misleading offsetting schemes.
During 2022 Polestar teamed up with Circle Economy and
Polestar also received additional certification in
Find the 2022 sustainability report here. Separately, Polestar now expects to file its Annual Report on Form 20-F with the
Notes to editors
- Polestar’s sustainability report is created according to 2021 GRI Standards, the European Union’s Non-Financial Reporting Directive (as implemented by the Swedish Annual Accounts Act’s requirements on the statutory sustainability report) and details disclosures in line with the
Taskforce on Climate-related Financial Disclosures(TCFD).
- Polestar’s partnership with Circulor provides a unique transparency precedent for the automotive sector. Blockchain technology gives Polestar the ability to track a wide range of raw materials used throughout vehicle and parts production, particularly any risk materials that may have significant environmental impact or pose human rights challenges. Circulor provides a private blockchain that doesn’t come with the heavy carbon emissions of public blockchains.
- The Polestar 0 project is Polestar's goal of creating a truly climate-neutral car by 2030, which was announced in the company’s first annual review, published in
April 2021. The Polestar 0 project aims to cut carbon emissions by changing the way that cars are made, rather than using traditional processes and then planting trees to offset CO2e. The approach aims to encompass collaboration across the entire development process and value chain, from suppliers to retailers. The project targets what Polestar can measure and control: zero carbon emissions in the production of the car, delivery to customer, and end-of-life. The use phase of an electric car can already today be close to climate-neutral if the car is charged with renewable energy. Polestar is firmly dedicated to the Polestar 0 project and have assigned an internal taskforce as well as an important R&D-budget, however, this is not a normal car project and the usual delivery guarantees cannot be given. The Polestar 0 project is a moonshot goal, aimed at challenging ourselves, the industry and intended to create a sense of urgency. We want to galvanize innovation and exponential thinking, convinced it will lead to big leaps in the right direction.
Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in
Polestar 2 launched in 2019 as the electric performance fastback with avant-garde Scandinavian design and up to 350 kW. Polestar 3 launched in late 2022 as the SUV for the electric age – a large high-performance SUV that delivers sports car dynamics with a low stance and spacious interior. Polestar plans to release three more electric performance vehicles through to 2026.
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