GOTHENBURG, SWEDEN – April 16, 2024: Polestar, the Swedish electric vehicle (EV) company listed on Nasdaq (PSNY), has released its 2023 Sustainability Report, detailing significant strides in reducing environmental impact. Over the past year, the company has cut its greenhouse gas emissions per vehicle sold by 9%, which translates to a substantial reduction of 3.4 tonnes of CO2 equivalent compared to 2022.
This reduction was accomplished by focusing on three strategic areas: selecting materials with a lower environmental footprint, incorporating renewable energy sources in vehicle and battery production, and improving energy efficiency during the vehicle’s usage phase. These efforts demonstrate Polestar’s commitment to growing its operations without proportionally increasing emissions.
Fredrika Klarén, the Head of Sustainability at Polestar, emphasized the company’s proactive stance, stating, “Our vision is clear—we aim to expedite the transition to electric vehicles while incorporating sustainable, innovative solutions to enhance the EV experience. It’s crucial for our industry to be transparent about the actionable steps being taken to fulfill climate commitments. This year, we have made our climate action plan more tangible as we progress toward our 2040 climate objectives.”
In 2023, Polestar also enhanced its traceability initiatives, particularly in monitoring battery risk minerals. Notably, the company has achieved traceability for lithium and nickel in the batteries of its Polestar 3 model, complementing the tracking of cobalt and mica using blockchain technology since 2020 and 2021, respectively.
The report clearly outlines how Polestar is implementing rigorous due diligence processes to identify and mitigate sustainability-related risks effectively. This year, the introduction of a digital platform has streamlined the collection and management of sustainability data, bolstering the company’s commitment to transparency and adherence to regulatory standards and norms.
