- Geely Holding Group targets carbon neutrality across entire value chain by 2045
- Joined UNGC with commitment to the ten principles of the Compact and 17 UNSDGs
- Commitment to ESG elevated with board level Environmental, Social and Governance Committee
- Sales of plug-in hybrid and battery electric vehicles across the Group increased approximately 94% YoY
- Total installed solar power capacity in China reach 110MW with appr. 79,548 MWh used
- Industrial water recycling rates at manufacturing sites reach 97.57%
- Phase out of single-use plastics across manufacturing bases planned
- Usage of recycled sustainable materials prioritized in production
2022 June 27th, Hangzhou, China. Geely Holding Group publishes their 2020 and 2021 Sustainability Reports. The reports can be found here on Geely Holding’s official website.
In 2021, Geely Holding Group joined the United Nations Global Compact (UNGC), committing itself to upholding the ten principles of the Compact covering human rights, labour, the environment, and anti-corruption as well as contributing to the 17 UN Sustainable Development Goals in its strategies and operations. Aligning with those commitments, the Group has announced in its report that it is aiming to achieve carbon neutrality across its entire value chain by 2045. Individual businesses and brands under the Group have also formulated their own carbon neutrality strategies and goals with step-by-step roadmaps.
- Geely Auto have announced their goal of achieving carbon neutrality by 2045 and reducing whole vehicle lifecycle carbon emissions 25% by 2025.
- Volvo Cars have announced their goal of achieving carbon neutrality by 2040, climate neutral manufacturing and operations by 2025, and become a 100% BEV company by 2030.
- Polestar have announced their goal of introducing a fully carbon-neutral automotive product and eliminating carbon emissions from their supply chain and production by 2030.
Elevating the importance of sustainability management, the Group has established a board level Environmental, Social and Governance Committee to guide and facilitate the implementation of sustainability initiatives across the Group’s businesses and brands. In addition, a Collaboration Steering Group has been established composed of the CEO of Geely Holding and CEOs of affiliated brands and businesses to encourage ESG resource sharing and mutual empowerment across the Group.
Encouraging greener and more sustainable mobility, sales of plug-in hybrid and battery electric vehicles across the Group increased approximately 94% YoY in 2021.
Using clean energy for green factories, the Group has increased total solar power capacity at its facilities to 110MW. Approximately 79,548 MWh of solar power have been used throughout the year.
Not only encouraging the usage of clean energy, the Group also cares about the environmental impact of its operations. Industrial water recycling rates at its production facilities have reached 97.57%.
Aiming to reduce resource use and waste creation, the Group has adopted circular packaging and encourages the reuse and recycling of sustainable packaging across its manufacturing bases. With an aim to phase out the use of disposable single-use packaging, the Group has set annual targets for recyclable packaging.
The use of sustainable materials by the Group has extended beyond just packaging. Across its entire value chain, the Group is prioritizing the use of eco-friendly sustainable materials in the manufacturing of vehicles including recycled steel, aluminum, plastics, and natural fibers. Successful implementation can be seen in many of the Group’s affiliated brands products such as the Zeekr 001 chassis made with 15% recycled steel and 25% recycled aluminum alloy, interior fabrics in the Geometry models obtaining the highest-level European eco-friendly material certification, Polestar development of biodegradable composite materials, Volvo’s partnership with SSAB to use fossil-free zero-carbon emission steel.
Geely Holding Group has released an annual Corporate Social Responsibility Reports (“CSR Report”) for eight consecutive years since 2012. In 2020, the “CSR Report” was renamed the “Sustainability Report” to reflect the Group’s commitment to embrace the challenges and opportunities that come with global sustainability.
Delayed due to the initial outbreak of the global Covid-19 pandemic, the 2020 Sustainability Report is concurrently being released with the 2021 Sustainability Report.