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European Climate Pact

Overview

Location

Germany

Sector

Transport manufacture, management and services

Organisation type
Business

Company Information

Volkswagen AG is a publicly owned automobile manufacturer with headquarters in Wolfsburg, Germany. In 2021 it reported 660,000 employees and a sales revenue of 250.2 billion Euro.

Our progress towards decarbonization

 

GHG Emissions

North Star

  • Volkswagen AG has a target to reduce absolute scopes 1 and 2 CO2e emissions 50% by 2030 from a base year of 2018

Pledge: Have an officially validated short-medium term science-based GHG emissions reduction targets aligned with a 1.5°C scenario (scope 1+2) in line with the SBTi Criteria and Recommendations.

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in production processes
  • Have an initiative in place to drive GHG emissions reduction through low-carbon energy consumption
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Climate Change 2022

Water

Our actions – the Pathway

  • Have an internal price on water 
  • Engage our suppliers to improve their water management and stewardship through onboarding and compliance measures
  • Publicly disclose data on water-related impact to investors through a public platform
  • Have board-level oversight of water issues
  • Integrate water-related issues into the company's financial planning
  • Integrate water-related issues into the company's long-term business objectives
  • Integrate water-related issues into the company's strategy to achieve long-term business objectives
  • Regularly monitor and measure key water security metrics at least for 75% of the company's facilities

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Water 2022

 

Governance & Strategy

North Star

  • Volkswagen AG have a publicly available 1.5°C aligned low-carbon transition plan​​​​​​​

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

   

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Climate Change 2022

 

Buildings

Our actions – the Pathway

  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in buildings​​​​​​

MRV: Pact MRV in place

Status date: Submitted (22/07/2022)

Data source: CDP Climate Change 2022