Polestar (Nasdaq: PSNY) has published its Sustainability Report for 2023. The Swedish electric performance car brand continues to make significant progress on its climate targets, achieving a reduction of 9% in relative greenhouse gas emissions per sold car in 2023.
This equates to a reduction of 3.4 tCO2e compared to 2022 and was achieved by a focus on three main areas: the use of carefully chosen materials with lower climate impact, renewable electricity in car and battery production, and energy efficiency in use phase. The achievements in 2023 and future ambitions illustrate that it is possible to decouple growth from increased emissions.
Fredrika Klarén, Polestar's Head of Sustainability, says: 'Our vision is clear - we want to accelerate the EV-transition while bringing in more sustainable and innovative solutions to make electric cars even better. We need to acknowledge that our industry still has a huge potential for improvement when it comes to disclosing concrete plans for achieving its climate pledges. This year we are sharing the work we do to make our climate roadmap more concrete, as we navigate towards our 2040 climate goal.'
In 2023, Polestar also focused on enhancing its traceability practices and expanding the number of battery risk minerals tracked. A significant advancement is the ability to trace lithium and nickel used in Polestar 3's batteries, adding to cobalt and mica that have been monitored with blockchain technology since 2020 and 2021, respectively.
The sustainability report transparently discloses how Polestar is adopting a due diligence approach to improve the ability to identify and remediate sustainability related risks. During 2023, Polestar introduced a digital platform to streamline the collection of sustainability related data to support transparency and compliance with standards and regulations.
Find the report here.
Photo credit: Polestar posted on conceptcarz.com
