Accelerating change Through innovation.

At Northvolt, our commitment to sustainability is a driving force for strategy, decision-making and action. We are open about where we stand, the challenges we face and the path we’re taking. We invite you to see how we’re performing as we work to pave a new way forward for the battery industry.

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Sustainability & Annual Report 2023

This is Northvolt’s second integrated Sustainability & Annual report. It outlines what we are doing, how we are doing it, and the challenges we face as we work to enable the future of energy.

Northvolt reports its sustainability work for 2023 in accordance with Global Reporting Initiative (GRI) Standards.

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The report at a glance

Our Sustainability & Annual Report covers everything from our strategy and operations to our approach to sustainability.

We invite you to explore our progress and the challenges we faced in 2023 as we worked to enable the future of energy.

Chapter #1

Our
world

We aim to play a key role in the energy transition by delivering battery solutions which act as an enabling technology for the future of industry. Read about our unique approach to battery manufacturing and how we’re establishing ourselves as a sustainability leader in the battery industry.
  • Arrow IconOur year in brief 
  • Arrow IconOur goals 
  • Arrow IconLetters from our Chair and CEO 
  • Arrow IconOur strategy 
  • Arrow IconKey ratios 
  • Arrow IconInnovation 
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Chapter #2

Our
impact

We continue to see the positive environmental impact from adopting a data-driven and action-oriented approach to managing our value chain. Learn about our efforts in impact reduction, responsible sourcing, and our approach to working with health and safety across our sites.
  • Arrow IconOur climate impact 
  • Arrow IconResponsible sourcing & production 
  • Arrow IconCarbon Roadmap 2030 
  • Arrow IconHealth & Safety 
  • Arrow IconEnvironmental responsibility 
  • Arrow IconLife cycle assessment 
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Chapter #3

Our people
& culture

As we expand our company, we aim to grow in more than just numbers. We are committed to fostering and developing the Northvolt culture. Here’s what that work looks like today.
  • Arrow IconThe Northvolt way 
  • Arrow IconEncouraging growth and potential 
  • Arrow IconGrowing an unparalleled talent base 
  • Arrow IconCreating an inclusive & diverse workplace 
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Chapter #4

Our
structure

The rapid growth of our company requires blending structural resilience with organizational adaptability. Our business structure is built to enable progress towards our goals and adherence to our values. Here’s how we work today.
  • Arrow IconGovernance report 
  • Arrow IconRisk management 
  • Arrow IconSustainability governance 
  • Arrow IconBoard of Directors 
  • Arrow IconExecutive Management team 
  • Arrow IconEthical business conduct 
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Chapter #5

Our
performance

We have high ambitions for ourselves across key areas where results have an impact on our business. We’ve built a high-performing company which is purpose-driven, meritocratic and ethical. As we grow, we intend to continue refining the structures which underpin our operations.
  • Arrow IconTaxonomy report 
  • Arrow IconFinancial statements 
  • Arrow IconSustainability performance 
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2030 goals

Recycling

By 2030, we aim for Northvolt cells to consist of 50% recycled material

Carbon footprint

Our target is to have a carbon footprint of 10 kg CO2e/kWh on a cell level by 2030

Sourcing

By 2030, we aim for 90% of our cell components to be sourced locally in Europe (excluding raw materials)

Northvolt report archive

Sustainability & Annual Report 2022

Read our first integrated Sustainability & Annual Report, published in 2023.

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TCFD Report

TCFD Report 2023

Read our TCFD Report, which covers our activities through the year.

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Framework

Green Finance Framework

To support the financing of our expansion plans, we established our first Green Finance Framework in 2022, which outlines our approach towards green investments.

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Sustainability Report 2021

Sustainability Report 2021

Read our first Sustainability Report, covering our activities through 2021.

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#environment

17 May, 2023

Breaking a dependency: why Europe needs to minimize the reliance on Russia for battery minerals

29 September, 2022

Introducing Labhouse: a greener kind of office building

16 June, 2022

Introducing Northvolt’s Sustainability Report 2021