Volkswagen

Volkswagen reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 7,160 Kt (+20/+0.3% y-o-y). At the sime time, carbon intensity was down at 24 t (-3.3 /-12% y-o-y).

Volkswagen's Scope 3 emissions declined to 364,140 Kt (-46,990 /-11.4% y-o-y). This is a higher rate of decline than over the period since 4Q'19 (-6.6% CAGR).

The company is committed to reducing Scope 1 + 2 by 30% by 2030 from a base year 2018, which translates into the estimated reduction of -158 Kt per annum over the period of FY2022 - FY2030. This target has beeen submitted to SBTi.

Volkswagen aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2050. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.