Polestar was founded as a standalone car manufacturer in 2017, with the purpose of accelerating the shift to sustainable mobility. Today, the Swedish electric car maker joins the Exponential Roadmap Initiative.
The initiative connects innovative, transformative and disruptive businesses committed to taking action in line with the 1.5-degree climate target, through exponential climate action and solutions. The target, outlined in the Paris Agreement[1], means restricting a global temperature increase to 1.5°C above pre-industrial levels. This will be crucial to hold off some of the worst impacts of climate change, and avoid irreversible damage to societies, economies and the natural world.[2]
Joining the initiative, Polestar commits to going further than the decarbonisation of its own products and reduction of value chain emissions. The brand aims to integrate climate action deeply into its business strategy while working to influence wider society, towards net zero.
In April 2021, Polestar announced the Polestar 0 project, a moonshot goal to create a truly climate neutral car by 2030, without the use of offsetting through measures like tree-planting. Polestar aims to be fully climate neutral across its value chain by 2040.
“We listen to the science that tells us that we are not moving fast enough to stay within the 1.5-degree climate target. The automotive sector can have a profound effect on this and we have to step up. Our partnership with the Exponential Roadmap Initiative will give us the opportunity to collaborate on climate strategies with companies who share our level of ambition. We also hope to use this platform to influence decision makers and climate policy,” says Thomas Ingenlath, CEO of Polestar.
Polestar’s Head of Sustainability, Fredrika Klarén, says: “We want to help change the narrative around climate change so that we start focusing on what actually creates impact. And we want to inject hope. Our company contributes to the exponential growth of solutions that can transform our world and build a sustainable society, and we are open to share what we do and collaborate to make that transformation happen.”
Traditional companies joining the Exponential Roadmap Initiative commit to halving their emissions each decade. For climate solution companies, like Polestar, growth is essential to maximise positive impact. Being a pure electric car maker, Polestar’s most important mission is to scale up business exponentially, enabling a faster phasing out of fossil fuel vehicles. The reduction targets are therefore relative, focusing on cutting emissions on each car. Polestar also commits to lead development around minimal material and manufacturing carbon footprints, increased usage of the cars, green charging, and work towards full circularity.
Johan Falk, Head of the Exponential Roadmap Initiative, comments: “We state that sales of new chargeable personal vehicles can reach 90% by 2030 if we continue to follow an exponential growth trajectory. Traditional consultancy companies believe we will still sell fossil cars 20 years from now. I disagree. Electric cars will be superior in terms of price and performance and manufacturers will start to cut their fossil production lines for economical reasons – sooner than later. Disruptive companies like Polestar play an important role in accelerating this transformation.”
[1] https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement
[2] https://www.ipcc.ch/sr15/
SOURCE: Polestar
