Bold Steps Towards Net Zero: Hydro and Volvo Group Forge Transformative Partnership
In a groundbreaking announcement at COP28, Hydro and Volvo Group have unveiled a strategic partnership aimed at propelling the global transport manufacturer towards its 2040 goal of delivering net zero vehicles. Pledging their commitment to each other’s pursuit of zero-emission value chains within the First Movers Coalition, this alliance marks a pivotal move towards a sustainable and greener future.
Charting a Green Course: Roadmap Towards Low-Carbon Aluminium
Under the First Movers Coalition, initiated by U.S. President Joe Biden and the World Economic Forum at COP26, Hydro and Volvo Group plan to collaborate on a roadmap to supply primary aluminum by 2030 with an impressive 80 percent reduction in carbon footprint compared to the current global industry average. The partnership sets the stage for a paradigm shift in green procurement, showcasing the power of collaboration in advancing demand for net-zero technologies.
Celebrating Partnership: Endorsement from Climate Leaders
John Kerry, U.S. Special Presidential Envoy for the Climate, commends the collaboration, stating, “Partnership is the new leadership.” Expressing delight in two First Movers Coalition partners joining forces, he emphasizes the role of such partnerships in steering the shift towards green aluminum and expediting the demand for net-zero technologies.
Key Elements of the Hydro and Volvo Group Partnership:
- Roadmap to Near Zero Aluminium (Pre-2030): Hydro and Volvo Group are committed to establishing a roadmap aimed at supplying near-zero aluminum before 2030.
- Low-Carbon Aluminum Integration: The partnership focuses on collaborative efforts to enhance the use of low-carbon aluminum in Volvo’s production processes, moving towards the supply of net-zero aluminum by 2040.
- Innovative Recycling Standards: Validating new recycling standards for alloys is a joint initiative, aiming to optimize material reuse and explore closed-loop value chains for increased scrap utilization.
- Synergizing Innovative Solutions: The collaboration extends to exploring how Volvo Group’s innovative transport solutions can contribute to Hydro’s mining operations in Brazil, further reducing the carbon intensity of the aluminum value chain.
Hydro’s Green Aluminium Transition: Pioneering Sustainability
Hydro, with a current carbon footprint of one-fourth of the global industry average, is committed to reducing emissions by an additional 30 percent by 2030. The company’s ambitious goal is to produce net-zero aluminum by 2050, contributing to a nature-positive future through initiatives focused on biodiversity, waste handling, and land use.
Shared Commitment to a Net Zero Future: Hydro and Volvo Group Visionaries Speak Out
Hilde Merete Aasheim, President and CEO of Hydro, underscores the importance of every step in transforming the industry and achieving decarbonized end-products. Volvo Group President and CEO Martin Lundstedt affirms their commitment to a net-zero value chain by 2040, emphasizing the belief in making a positive impact on climate through collaborative efforts.
This alliance between Hydro and Volvo Group not only signifies a powerful partnership but also exemplifies the shared dedication of Scandinavian pioneers in shaping a sustainable, low-carbon future. As they stand at the forefront of innovation, Hydro and Volvo Group are redefining the future of transportation and aluminium production with a united vision for a net-zero tomorrow.
Source: Volvo Group with additional information added by GlassBalkan
