Gothenburg, Sweden, April 17, 2024 – Polestar (NASDAQ: PSNY), the global luxury electric performance car brand, has released its 2023 Polestar Sustainability Report. Polestar continues to make significant progress towards its climate goals, reducing greenhouse gas emissions by an average of 9% per Polestar car sold in 2023.
Every Polestar car sold in 2023 reduced greenhouse gas emissions by 9%.
This equates to a reduction of 3.4 tonnes of carbon dioxide equivalent (CO2e) per Polestar car sold compared to 2022. Polestar's success in reducing greenhouse gas emissions is due to three main factors: the use of carefully selected materials with a low climate impact, the use of renewable energy in the production of cars and batteries, and the improvement of energy efficiency in the use of vehicles. Polestar's 2023 achievements in climate neutrality and ambitious targets for the future show that decoupling development from increased emissions is achievable.
Fredrika Klaren, Polestar's Global Sustainability Officer, said: "Our vision is clear – to accelerate the electrification of the automotive industry while introducing more sustainable and innovative solutions to make electric vehicles better. We must acknowledge that there is still significant potential for improvement across the industry when it comes to disclosing concrete plans to meet climate commitments. This year, we will continue to share the work we are doing to make our climate roadmap more concrete and clear, and to move towards the goal of climate neutrality across the value chain by 2040. ”
Fredrika klaren, Global Sustainability Officer, Polestar
In 2023, Polestar is also focusing on enhancing traceability from raw materials to finished products and expanding the number of risky materials for tracking batteries. The ability to trace lithium and nickel used in Polestar 3 batteries is a major advancement, in addition to cobalt and mica that began to be traced using blockchain technology in 2020 and 2021 respectively.
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The 2023 Polestar Sustainability Report clearly demonstrates Polestar's ability to use appropriate due diligence processes to identify and remediate sustainability-related risks. In 2023, Polestar introduced a digital middle office to streamline the process of collecting sustainability-related data to ensure transparency and compliance throughout the process.
Polestar Sustainability Report 2023