Volvo, the Swedish truck maker, has recently entered into an agreement with CRH, an Irish building-materials supplier, in an effort to accelerate the development of net-zero technologies for on-road vehicles and off-road equipment used in construction. This memorandum of understanding will focus on deploying next-generation technology, achieving operational efficiency, and scaling sustainable solutions.
CRH, which recently relocated its primary listing to New York, aims to explore opportunities to maximize the value of sustainable innovation in the construction industry. Volvo, on the other hand, will contribute its expertise from its truck and construction equipment brands to drive sustainable transport and infrastructure solutions.
With ambitious targets set, Volvo aims to achieve 35% fully electric sales by 2030 and be completely net-zero across its value chain by 2040. CRH has also set its sights on reducing groupwide emissions by 30% by 2030 and becoming a net-zero business by 2050.
This partnership between Volvo and CRH holds great promise for shaping the future of sustainable construction practices and pushing the boundaries of what is possible in the industry.