Polestar is reducing greenhouse gas emissions by 9% for every vehicle sold and is on track to become climate neutral by 2040.

Polestar (Nasdaq: PSNY) has published its 2023 sustainability report. The Swedish electric performance car brand continues to make significant progress in its climate goals and has reduced greenhouse gas emissions by 9% per vehicle sold by 2023.

That percentage corresponds to a reduction of 3.4 tCO2e compared to the previous year. Low emissions were achieved by focusing on three key areas: the careful use of materials with a low climate impact, the use of renewable electricity in the production process of vehicles and battery packs, and promoting energy efficiency in the consumption phase. . Polestar’s 2023 results and future prospects show that growth is possible without increasing production.

Fredrika Klarén, Head of Sustainability at Polestar: “Our vision is clear – we want to accelerate the transition to electric driving while introducing sustainable and innovative solutions to make electric vehicles even better. We recognize that our industry still has a lot of room for improvement when it comes to meeting climate goals. This year we’re raising awareness of what we’re doing to make our climate map more robust as we work towards our 2040 goals.”

In 2023, Polestar aimed to further improve its monitoring protocols, expanding the number of traceable hazardous minerals for battery production. A major breakthrough is the ability to trace the lithium and nickel used in Polestar 3 batteries. Cobalt in micatwo other dangerous minerals, have been tracked by Polestar using blockchain technology since 2020 and 2021 respectively.

The sustainability report provides insight into how Polestar diligent approach used to identify and remediate sustainability-related risks. In 2023, Polestar introduced a digital system to simplify the collection of sustainability-related data to support transparency and ensure effective compliance with standards and regulations.