Ab Volvo

AB Volvo, headquartered in Sweden and operating in the motor vehicles, trailers, and semi-trailers industry, has reported its carbon emissions and committed to ambitious reduction targets.

In 2025, AB Volvo's reported emissions included approximately 203 million kg CO2e for Scope 1, 54 million kg CO2e (market-based) for Scope 2, and about 237.6 billion kg CO2e for Scope 3. The Scope 3 emissions were broken down into approximately 228.4 billion kg CO2e from the use of sold products and 9.2 billion kg CO2e from purchased goods and services.

Looking back, in 2024, the company reported approximately 207 million kg CO2e for Scope 1, 60 million kg CO2e (market-based) for Scope 2, and roughly 258.9 billion kg CO2e for Scope 3. The Scope 3 breakdown included about 249 billion kg CO2e from the use of sold products and 9.9 billion kg CO2e from purchased goods and services.

Further historical data shows that in 2019, the baseline year for several targets, AB Volvo's Scope 1 emissions were approximately 256 million kg CO2e, Scope 2 market-based emissions were 126 million kg CO2e, and Scope 3 emissions included about 331.3 billion kg CO2e from the use of sold products and 12.1 billion kg CO2e from purchased goods and services.

AB Volvo has set several climate commitments, including near-term and long-term Science Based Targets initiative (SBTi) validated targets. The company commits to reduce absolute Scope 1 and 2 GHG emissions by 50% by 2030 from a 2019 base year. For Scope 3, AB Volvo aims to reduce absolute GHG emissions from the use of sold construction equipment by 30% by 2030 and from the use of sold industrial and marine engines by 37.5% by 2034, both from a 2019 base year. Additionally, they commit to reducing Scope 3 GHG emissions from the use of sold heavy-duty trucks and buses by 40% per vehicle km by 2030, also from a 2019 base year.

The company also has internal targets to reduce Scope 1 and Scope 2 emissions to near zero by 2025, starting from a 2023 baseline. For Scope 3, there has been a reported 31% reduction in GHG emissions from products' use phase and a 24% reduction from purchased goods and services between 2019 and 2025. AB Volvo is also committed to achieving net-zero emissions by 2050.