The independent Science Based Targets Initiative confirmed in 2020 that Volkswagen Group’s climate targets meet the terms of the Paris Climate Agreement. The Group’s plans call for a 30 percent reduction in CO2 emissions in production and vehicle use worldwide by 2030 compared to 2018. This is in line with the requirement to limit global warming to well below two degrees Celsius.
Volkswagen is not working alone to achieve the Paris climate targets, but together with other companies in the European CEO Alliance. The members represent various industries, generate a combined annual turnover of 600 billion euros and employ 1.7 million people. They support the Paris 2050 climate targets, the EU Green Deal and the ambition to increase EU climate targets. The alliance consists of ABB, AkzoNobel, Eon, Enel, Iberdrola, A.P. Møller Maersk, Philips, SAP, Scania, Schneider Electric, Siemens and Volkswagen Group.
CEO Herbert Diess also advocates better political framework conditions for climate protection – such as an accelerated energy turnaround and appropriate pricing of climate-damaging emissions. “A cross-sector and pan-European CO2 price directs resources and activities to where the most is achieved quickly. It reduces the regulatory burden and accelerates change,” Diess points out.