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Volvo AB is a Swedish multinational company that operates in the commercial vehicles manufacturing sector. The company has a rich history dating back to 1927 when it was founded in Gothenburg, Sweden. Volvo AB is known for its high-quality commercial vehicles, including trucks, buses, and construction equipment. The company has a global presence, with operations in more than 190 countries.

In recent years, Volvo AB has been at the forefront of the decarbonisation movement, which seeks to reduce carbon emissions and combat climate change. The company has made significant investments in renewable energy and has implemented various initiatives to reduce its carbon footprint.

One of the key ways that Volvo AB is working towards decarbonisation is through its corporate energy strategy. The company has set ambitious targets to reduce its energy consumption and increase its use of renewable energy sources. For example, Volvo AB aims to reduce its energy consumption by 20% by 2025 and to source 50% of its energy from renewable sources by 2025.

To achieve these goals, Volvo AB has implemented various energy-saving measures, such as upgrading its lighting systems, improving the efficiency of its production processes, and investing in energy-efficient equipment. The company has also installed solar panels at some of its facilities to generate renewable energy on-site.

In addition to these measures, Volvo AB has also entered into corporate power purchase agreements (PPAs) with renewable energy providers. A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for the purchase of renewable energy. By entering into these agreements, Volvo AB is able to secure a reliable source of renewable energy while also supporting the growth of the renewable energy sector.

One example of a corporate PPA that Volvo AB has entered into is with a wind farm in Sweden. Under the agreement, Volvo AB will purchase all of the electricity generated by the wind farm for a period of ten years. This will enable the company to source a significant portion of its energy from renewable sources and reduce its carbon footprint.

Volvo AB has also made significant investments in renewable energy projects. In 2019, the company announced that it would invest SEK 150 million (approximately $16 million) in a new solar panel factory in Sweden. The factory will produce high-quality solar panels for use in Volvo AB's own facilities as well as for sale to other companies.

In addition to its focus on renewable energy, Volvo AB is also committed to reducing its carbon emissions in other ways. The company has set a target to reduce its CO2 emissions from its products and operations by 50% by 2025. To achieve this goal, Volvo AB is investing in the development of electric and hybrid vehicles, which produce significantly lower emissions than traditional diesel and gasoline-powered vehicles.

One example of Volvo AB's commitment to electric vehicles is its partnership with the Swedish city of Gothenburg to create a zero-emissions public transportation system. The project, known as ElectriCity, involves the development of electric buses, charging infrastructure, and other related technologies. The goal of the project is to create a sustainable and efficient public transportation system that can serve as a model for other cities around the world.

In conclusion, Volvo AB is a leading company in the commercial vehicles manufacturing sector that is committed to decarbonisation and the use of renewable energy. The company has set ambitious targets to reduce its energy consumption and carbon emissions, and has implemented various initiatives to achieve these goals. Through its corporate energy strategy, corporate PPAs, and investments in renewable energy projects, Volvo AB is leading the way in the transition to a more sustainable future.

✓ Current offtaker under Corporate PPA's
✓ Climate Action 100+ company
✓ Science Based Targets member
✓ Declared Net Zero commitment