VELUX Group exceeds expectations and reduces company carbon emissions by more than half within a decade
The VELUX Group today released its Sustainability Report 2020, unveiling a 59% reduction in the company’s carbon footprint1, compared to the 2007-baseline, and thereby exceeding its 2020 goal by 9 percentage points. 2020 was a milestone year for the VELUX Group, marking the conclusion of a decade of work to achieve its Energy and Climate Strategy 2020 goals.
The greater-than-expected CO2 emission reduction is a result of the Group’s long-term carbon reduction strategy, which focuses on energy efficiency improvements, increased on-site renewables, and the purchase of renewable electricity.
During 2020, the Group improved energy efficiency across all its production sites, warehouses, and headquarters in Europe through certified ISO 50001 Energy Management. It also further transitioned from fossil fuels to renewable energy sources, by utilising more on-site waste wood biomass (from FSC/PEFC certified wood used in production) for heat generation. Furthermore, the Group increased the purchase of green electricity with Guarantees of Origin certificates. Looking ahead, the Group committed to purchase 100% renewable electricity by 2023 through Renewable Power Purchase Agreements covering the Group’s European consumption.
Although 2020 was a year notably defined by the COVID-19 pandemic, the VELUX Group nevertheless made progress on its objectives in its Energy and Climate Strategy, with the main achievements being:
- a 59% reduction in CO2 emissions compared to the 2007-baseline, exceeding the 2020 reduction target by 9 percentage points.
- a 97.8% waste reutilisation rate through ISO14001:2015 certification at all VELUX production sites, with waste reutilised either as new materials or as an energy source for heat generation.
- the creation of a safe working culture with safety integrated throughout all production sites and headquarters, with the result being that the Group’s accident frequency is now almost four times lower than the comparable industry benchmark2.
The VELUX Management Group and a COVID-19 task force took decisive action during the pandemic to safeguard the health and well-being of employees, secure deliveries to customers, and mitigate the spread of the virus.
2020 was a challenging year across the globe and although the pandemic affected much of our work, it did not hinder efforts to achieve our sustainability ambitions. We are proud to have concluded a decade of great achievements in our Energy and Climate Strategy 2020. We continue to be committed to even more sustainable actions as the world continues to face an increasing number of complex and interconnected challenges, with the climate crisis and loss of biodiversity being the most critical. It is against this backdrop that we launched our new ‘It’s our nature’ 2030 sustainability strategy to transform the way we do business.
“It’s our nature” — towards 2030 and beyond
In 2020, the VELUX Group launched its 2030 sustainability strategy called ‘It’s our nature’, which contains more ambitions for the coming decade than the previous strategy. This new 10-year strategy represents the beginning of an extensive sustainable transformation and its 15 targets will enable the VELUX Group to ‘Pioneer climate and nature action’, ‘Innovate sustainable products’ and ‘Secure a responsible business’. The pioneering commitment in the new strategy is to become Lifetime Carbon Neutral by the Group’s 100-year anniversary in 2041. It means the Group has committed to capture its historical carbon footprint, reduce its future carbon emissions in line with science and the Paris Agreement’s 1.5°C scenario, and thereby become Lifetime Carbon Neutral by partnering with World Wide Fund for Nature (WWF) on forest conservation projects around the world.
About the VELUX Group
For more than 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 36 countries and around 11,000 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 2022, the VELUX Group had total revenue of EUR 2.99 billion, VKR Holding had total revenue of EUR 4.29 billion, and THE VELUX FOUNDATIONS donated EUR 181 million in charitable grants.
For more information about VELUX Group, visit velux.com.