Plotting a net-zero course: Polestar joins Exponential Roadmap Initiative and UN Race to Zero
The journey towards more sustainable mobility has forced us to get off the beaten track. Not only was the traffic terrible, but it wasn’t getting us to where we need to go. Now, we’re entering uncharted territory. To help us navigate in a rapidly transforming world, we need a roadmap. An exponential roadmap.
That’s why we have joined the Exponential Roadmap Initiative. The initiative connects businesses who are integrating climate deeply into their business strategy and influencing climate action in society towards net zero. Through 36 solutions, aided by policy, funding, digital technology and climate leadership, participants in the initiative can make true progress towards the goal of halving emission before 2030, as outlined in the Paris Agreement. These actions 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.
As a science-based cross-sector collaboration, Exponential Roadmap Initiative shows how we can build a stronger, more resilient and future-proof global economy while at the same time increase human prosperity and health within the planetary boundaries.
Through the partnership, we also join the United Nations’ Race to Zero campaign, just in time for its one-year anniversary. This global campaign is rallying companies, cities, regions, financial and educational institutions, assembling the largest ever alliance committed to halving global emissions by 2030 and achieving net-zero emissions by 2050 at the latest. All members are committed to the same overarching goal: reducing emissions swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets.
“Polestar’s commitment to join the Exponential Roadmap Initiative and the Race to Zero sends a signal that zero emission electrified cars are on the horizon. And not in 30 years – but in 10”, says Johan Falk, Head of Exponential Roadmap Initiative. “Polestar’s initiatives in developing sustainable materials and driving full transparency through the value chain are also important initiatives which we hope to support and accelerate in collaboration with our members.“
The initiative adheres to the Carbon Law, which states that businesses should halve their emissions each decade. For climate solution companies, like Polestar, growth is essential to maximize positive impact. Being a pure electric car maker, our 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. Our commitment also includes leading the development around minimizing the material and manufacturing carbon footprint, increasing usage of the cars, pushing for green charging and working towards full circularity.
To that end, we announced the Polestar 0 project in April 2021, aiming to create the world’s first truly climate-neutral car by 2030, as well as being fully climate neutral across the 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," says Thomas Ingenlath, CEO at Polestar. "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."
“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,” says Fredrika Klarén, Head of Sustainability at Polestar.
By definition, uncharted territory refers to something not recorded on a map. As we plot our route towards sustainable mobility, we must therefore blaze our own trail. But we cannot finish the race to zero without knowing how to get to the finish line.
We need an exponential roadmap.
The End of the Beginning
As of today, June 24th, Polestar is listed on the Nasdaq in New York under the ticker PSNY. This allows us to welcome shareholders, as well as customers, to join our journey towards more sustainable electric performance. This is a confirmation that Polestar has come of age. An end of the beginning. And a beginning of something more.