The VELUX Group establishes final forest portfolio in partnership with WWF
A new 275,000-hectare forest protection and conservation project in Madagascar is the fourth and final forest project in the VELUX Group’s portfolio across Viet Nam, Uganda, and Madagascar. All four projects are now under implementation as part of the 20-year VELUX-WWF partnership.
In 2020, the VELUX Group committed to reducing and removing 4.5 million tonnes of CO2, reflecting the scale of the company’s estimated historical scope 1 and 2 carbon footprint since its founding in 1941. This ambition will be met through tropical forest conservation and restoration projects, developed and delivered by WWF.
The final project in the partnership’s forest portfolio is located in the Northern Highlands of Madagascar. Together, the four projects span some of the world's most biodiverse landscapes including tropical forests in Viet Nam and Uganda, as well as mangrove forests and terrestrial rainforests in Madagascar. Each of the projects delivers benefits for climate, nature and people.
“Together with WWF, we have now identified the areas where our projects will reduce and remove millions of tonnes of CO2 once they are fully implemented. We are convinced that sustainability will continue to shape successful businesses in the future, and I am extremely proud that six years into our partnership, we are on track towards a historic and ambitious target. Establishing our complete portfolio is an important milestone, yet we remain fully committed to delivering on our targets, taking responsibility for our past, present and future.”
2041 marks the VELUX Group’s 100th anniversary.
Projects extend beyond the value chain
The partnership between WWF and the VELUX Group is separate from the company's decarbonisation efforts. The forest projects are considered beyond value chain mitigation, as they contribute to global climate action and nature protection beyond the company's own operations and value chain. The projects are designed to protect existing forests, prevent the release of stored CO2, and restore degraded areas where trees can absorb CO2 from the atmosphere as they grow.
The partnership's ambition is for the climate benefits generated by the projects to contribute to broader climate action, including support for host countries' climate goals. The VELUX Group will not use verified carbon units from the partnership to offset its emissions.
WWF Denmark recognises the VELUX Group’s leadership and commitment to high-quality nature and biodiversity initiatives and encourages more companies to follow.
“According to the World Economic Forum, more than half of the world’s GDP depends on nature, so we need private companies to truly step up in addressing climate change and rapidly growing biodiversity loss. We therefore hope that more companies will be inspired by the VELUX Group, which has now reached a major milestone by committing to financing a very ambitious forest protection project in Madagascar. We look forward to continuing our partnership for the benefit of both nature and people.”
The VELUX-WWF partnership has created a strong platform for landscape-scale conservation, and additional partners are now being mobilised to further scale forest protection and restoration efforts over the coming years.
About the VELUX Group
VELUX roof windows have been bringing daylight and fresh air into peoples’ homes around the world for more than 80 years, creating better living environments. We offer a range of products including roof windows and modular skylights, decorative blinds, sun screening products, and roller shutters, as well as installation and smart home solutions. They help create bright, healthy, and energy-efficient places for people who live, work, learn, and play under the roof. We work globally – with sales and manufacturing operations in 37 countries and around 11,300 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company owned by the Villum Foundation and members of the Kann Rasmussen family. In 2025, the VELUX Group had a total revenue of EUR 2.97 billion while VKR Holding had a total revenue of EUR 4.11 billion. The same year, the Villum Foundation and the VELUX FOUNDATION donated a total of EUR 306 million in charitable grants. For more information about the VELUX Group, visit velux.com.
About WWF
WWF is an independent conservation organization, with over 30 million supporters and a global network active in over 100 countries. WWF's mission is to stop the degradation of the Earth's natural environment and to build a future in which humans live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. For more information, visit www.panda.org or www.wwf.dk.