Renault Trucks

Climate Impact & Sustainability Data (2021, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:286 million tons/year (Scope 1, 2 & 3)

Scope 1 Emissions:Not disclosed

Scope 2 Emissions:Not disclosed

Scope 3 Emissions:Not disclosed

Renewable Energy Share:Not disclosed

Total Energy Consumption:Not disclosed

Water Consumption:Not disclosed

Waste Generated:Not disclosed

Carbon Intensity:Not disclosed

ESG Focus Areas

Climate
Resources
People

Environmental Achievements

Total calculated emissions amounted to 286 million tons compared with 323 million tons in 2019. The main reason for the reduction of emissions is related to lower sales volumes of trucks compared with the baseline in 2019.
Volvo Trucks had a 42.2% market share in fully-electric heavy-duty trucks and Renault Trucks 19.4% in 2021 in Europe.
Delivered 942 fully-electric vehicles, mainly in Europe and North America. Order intake for fully-electric vehicles was 1,683 units.
World’s first vehicle made of fossil-free steel.

Social Achievements

Continued to deliver good profitability and took several important steps in our efforts to lead the transition to a climate-neutral transport system.
The health and safety of our colleagues, suppliers and customers has been our first priority.
Further strengthened our work with the principles of the UN Global Compact regarding business ethics, human rights, labor law and the environment.
Upskilling for employment at Zamita Academy in Zambia.

Governance Achievements

Moody’s raised its long-term rating from A3, stable to A2, stable, and S&P raised its rating from A-, stable to A-, positive.
Volvo Group has a Green Finance Framework for the financing of investments and projects in the area of clean transportation.

Climate Goals & Targets

Long-term Goals:

We have committed to reach net zero emissions by 2040.

Medium-term Goals:

More than 35% of our vehicle sales should be electric by 2030
Our ambition is that by 2030, electric vehicles should account for at least 35% of our vehicle sales.
To have a rolling fleet that is completely net zero by 2050, our ambition is that all Volvo Group products delivered from 2040 should enable customers to go fossil free.

Short-term Goals:

More than 50% of Group revenues should come from services and solutions by 2030
We will lead by example with a world-class, sustainable in-house logistics system by 2025
We will implement at least 100 transport and infrastructure solutions together with our customers by 2025.

Environmental Challenges

The situation in the global supply chain for semiconductors and other components continued to be a challenge in 2021. It was unstable, characterized by disruptions, unpredictability and lack of freight capacity.
The ongoing and accelerating transformation of the transport and vehicle industry towards climate-neutral and sustainable transportation and infrastructure solutions entails various transitional risks for the Volvo Group.
Changes in investor preferences and sentiment could significantly affect the Volvo Group’s business plans and financial performance.
The covid-19 pandemic may lead to major disruptions in the economies of many countries, including the Group’s key markets, and may impact global economic activity as well as Group performance negatively going forward.

Mitigation Strategies

Our decentralized organization was crucial. It provided us with the ability to act quickly, dare to make decisions and take responsibility locally and regionally.
Continuous investments in new business models by innovation and new technologies
Building resilience is key to our long-term profitability.
The Volvo Group has, during the last couple of years, continuously invested in new business models and new technologies to be able to offer safer, more sustainable and more productive solutions to its customers.

Supply Chain Management

Supplier Audits: 97% of direct material purchasing spend from suppliers having made a CSR self-assessment

Responsible Procurement

Strengthened our Supplier Code of Conduct with firmer requirements and targets including more explicit due diligence requirements on our direct suppliers to cover further tiers in the supply chain.

Climate-Related Risks & Opportunities

Physical Risks

Extreme weather

Transition Risks

Regulatory changes, market shifts

Opportunities

Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

Goal 7
Goal 11
Goal 12
Goal 13

The Volvo Group’s commitment to achieving development without exceeding the planetary boundaries includes all 17 SDGs.

Sustainable Products & Innovation

Electric trucks, buses and construction equipment
Fuel cell trucks
Vehicles made of fossil-free steel

Awards & Recognition

Engine of the Year for the new off-road 16-liter Stage V/ Tier 4F engine
Assisted Docking System received both a category award and the overall award at the 2021 Metstrade Show

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:30,585 tCO2 (Scope 1 and 2 in 2022)

Renewable Energy Share:100% (hydroelectric at French sites since 2019)

Total Energy Consumption:208,7 GWh (scope 1 and 2 at French sites in 2023)

Water Consumption:6.5 m³/vehicle (2023)

Waste Generated:60,000 tons (2023)