The VELUX Group joins the world’s leading corporate renewable electricity initiative RE100
By joining RE100, the VELUX Group commits to source 100% renewable electricity by 2023.
The VELUX Group is the latest new member of a collaborative initiative, bringing together the world’s most influential businesses committed to 100% renewable power.
The corporate clean energy ambition is growing in spite of COVID-19, as more global companies sign up to green their entire electricity usage.
RE100 is a global initiative led by the Climate Group in partnership with CDP, both international non-profit organisations. It now brings together more than 260 of the world’s most influential companies committed to 100% renewable power in more than 140 markets worldwide.
The planet is facing a serious climate and nature crisis and this requires extraordinary action. According to our values as a company, we strive to do more than most, so that’s why we have joined RE100 as part of our Lifetime Carbon Neutral commitment, taking responsibility for not only our future but also historical carbon footprint. Joining RE100 we commit to source 100% renewable electricity already by 2023,
This all forms part of the VELUX Group’s new Sustainability Strategy 2030, committing the Group to dramatically reduce its future carbon emissions following SBTI’s most ambitious 1.5°C path (scope 1,2,3) and capture its historical carbon footprint since it was founded in 1941 – totalling 5.6 million tonnes of CO2 - through forest conservation and nature projects that will tackle climate change and halt nature loss. By 2030 it will be a carbon neutral company (scope 1 and 2) and have halved carbon emissions across its value chain (scope 3). Achieving 100% renewable electricity will, alongside other measures, contribute to the company carbon neutral 2030 goal.
Also today, during Climate Week NYC, major companies joining RE100 include PepsiCo (food & beverage, US), Intel (information technology, US), Asics (apparel, Japan), Sanofi (healthcare, France), SKF (bearing and seal manufacturing, Sweden), and McCain (food & beverage, UK).
Collectively, RE100 members are creating enough renewable electricity demand to power a G20 country. Bloomberg NEF estimates suggest they will need to invest over US$98 billion in clean energy to meet their RE100 goals – a vast source of finance for rebuilding a green economy.
I’m thrilled to see more and more companies leading the way on 100% renewable power. COVID-19 isn’t holding them back – clean energy is here to stay and the time to invest is now,
About Climate Week NYC
Climate Week NYC is the time and place where the world gathers to showcase amazing climate action and discuss how to do more. Run by international non-profit the Climate Group, in association with the United Nations and the City of New York, Climate Week NYC annually brings together voices from across the spectrum to debate and implement climate action now.
About the Climate Group
The Climate Group drives climate action. Fast. Our goal is a world of net zero carbon emissions by 2050, with greater prosperity for all. We focus on systems with the highest emissions and where our networks have the greatest opportunity to drive change. We do this by building large and influential networks and holding organizations accountable, turning their commitments into action. We share what we achieve together to show more organizations what they could do. We are an international non-profit organization, founded in 2004, with offices in London, New Delhi and New York. We are proud to be part of the We Mean Business coalition. Follow us on Twitter @ClimateGroup.
Led by the Climate Group in partnership with CDP, RE100 is a collaborative initiative bringing together the world’s most influential businesses committed to 100% renewable power. Renewables are a smart business decision, providing greater control over energy costs while helping companies to deliver on emission reduction goals. RE100 members, including Global Fortune 500 companies, operate in a diverse range of sectors – from information technology to automobile manufacturing.
Together, they send a powerful signal to policymakers and investors to accelerate the transition to a clean economy. RE100.org | #RE100
About the VELUX Group
For almost 80 years, The VELUX Group has created better living environments for people around the world; making the most of daylight and fresh air through the roof. Our product programme includes roof windows and modular skylights, decorative blinds, sun screening products and roller shutters, as well as installation and smart home solutions. These products help to ensure a healthy and sustainable indoor climate, for work and learning, for play and pleasure. We work globally – with sales and manufacturing operations in more than 40 countries and around 11,500 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company wholly owned by non-profit, charitable foundations (THE VELUX FOUNDATIONS) and family. In 2019, VKR Holding had total revenue of EUR 2.9 billion and THE VELUX FOUNDATIONS donated EUR 178 million in charitable grants. For more information, visit www.velux.com.