Volvo AB
Volvo's GHG Emissions Data Preview
In 2024, Volvo completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Volvo has also provided a category-level breakdown for 1 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Verified Sources Behind Volvo’s Greenhouse Gas (GHG) Emissions Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Volvo’s data sources below and access millions more through our Disclosure Search.
Insights into Volvo's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions of Volvo amounted to 374,000 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Volvo decreased by 6.03%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
Volvo's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Volvo's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Volvo were 209,000 metric tons of CO₂ equivalent (tCO₂e). a
Has Volvo reduced its Scope 1 emissions over time?
Since 2018, Volvo's Scope 1 emissions have decreased by 5.86%, reflecting a declining long-term trend in Scope 1 emissions over time. a c
Compared to the previous year (2023), Volvo's Scope 1 emissions decreased by 8.33%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a
What are Volvo's Scope 2 emissions?
In 2024, Volvo reported Scope 2 greenhouse gas (GHG) emissions of 60,000 tCO₂e using the market-based method and 165,000 tCO₂e using the location-based method. a
Has Volvo reduced its Scope 2 emissions over time?
Compared to the previous year (2023), Volvo's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Volvo 's emissions have plateaued with no significant change in its energy consumption footprint. a
What methodology does Volvo use for Scope 2 reporting?
In 2024, Volvo reported its Scope 2 emissions using the market-based method and using the location-based method. a
Volvo's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Volvo's Value Chain Emissions
In 2024, Volvo reported 249,000,000 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2024 disclosure of Volvo includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year. a
Volvo's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Volvo's Scope 3 emissions?
In 2024, Volvo reported total Scope 3 emissions of 249,000,000 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 0% of these emissions originated from upstream activities such as purchased goods and capital goods, while 100% came from downstream activities like product use, distribution, and end-of-life treatment. a
Compared to the previous year (2023), Volvo's Scope 3 emissions remained relatively stable, indicating that Volvo 's emissions have plateaued with no significant change in its value chain footprint. a
What categories of Scope 3 emissions does Volvo disclose?
In 2024, Volvo reported emissions for 1 out of the 15 Scope 3 categories defined by the GHG Protocol. a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
What are the main sources of Volvo's Scope 3 emissions?
In 2024, the largest contributors to Volvo's Scope 3 emissions were: a
- Use of Sold Products (Cat. 11): 249,000,000 tCO₂e (100%)
Volvo's Scope 3 Emissions by Categories
Insights into Volvo’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Volvo reported Scope 1 greenhouse gas (GHG) emissions of 209,000 tCO₂e and total revenues of USD 47,805 millions. This translates into an emissions intensity of 4.37 tCO₂e per millions USD. a
Volvo's Scope 1 Emissions Intensity Compared to Peers
How does Volvo's GHG emissions intensity compare to its peers?
In 2024, Volvo reported a Scope 1 emissions intensity of 4.37 tCO₂e per millions USD. Compared to the peer group median of 5.71 , this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors. a
Where does Volvo rank on GHG emissions intensity within its industry?
In 2024, Volvo ranked 9 out of 21 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
Volvo is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency. a
Insights into Volvo's Total Carbon Footprint
In 2024, Volvo reported a total carbon footprint of 249,374,000 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 8.45% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output. a
The largest contributor to Volvo's total carbon footprint was Scope 3 emissions, accounting for 99.85% of the company's total carbon footprint, followed by Scope 1 emissions at 0.08%. a