The Velux Group is committed to “carbon neutrality for life” in partnership with WWF

The VELUX Group has announced its new commitment to achieve “lifetime carbon neutrality” by its 100th anniversary in 2041. This commitment will lead the Group, leader in the roof window market, to capture the equivalent of its footprint historical carbon^[1], i.e. 5,6 million tonnes of CO² (scope 1 and 2^[2]) issued since its creation in 1941. This ambition will materialize through forest conservation projects supervised by WWF.

In accordance with the ambitious objectives set by the Paris climate agreement, which aims to limit the increase in global temperature to 1,5 ° C, the VELUX Group has embarked on this trajectory in order to significantly reduce emissions of carbon linked to its activity and its value chain (scopes 1, 2 and 3^[3]).

“Lifetime carbon neutrality” is a new pioneering commitment developed by the VELUX Group in collaboration with WWF International, aiming to take responsibility for past and future carbon emissions. This innovative ambition aims to capture the equivalent of the historical carbon emissions of the VELUX Group and aims at the same time to preserve the invaluable natural forests and the fauna of the whole world.

“The planet is now facing a serious crisis in terms of climate and biodiversity, which requires exceptional measures. In line with our corporate values, we always seek to do more than the majority; This is why we have developed the commitment to "carbon neutrality for life". This innovative commitment involves a 20-year partnership with WWF International, in order to capture the equivalent of our historic carbon emissions by 2041. We will also significantly reduce our future CO² emissions and ask our suppliers to do the same. We hope that this will inspire other companies to achieve "lifelong carbon neutrality" themselves, in order to create a sustainable future for all. "
- David Briggs, CEO of the VELUX Group

To achieve “lifetime carbon neutrality”, the VELUX Group is working with WWF by investing in forestry and biodiversity conservation projects until 2041. These will help to stop the deterioration of natural habitats, deforestation and land degradation threatening biodiversity, working alongside and for the benefit of local communities. The first two forestry projects will see the light of day in Uganda and Burma.

In Uganda, the focus will be on restoring degraded forests, creating new forests and protecting existing natural forests through a wide range of measures, including afforestation, reforestation, revegetation and sustainable forest management. This project will also allow trees to grow in woodlands, agroforestry systems and plantations outside protected areas, in order to meet the demand for various forest products and reduce pressure on natural forests. The project in Myanmar will aim to conserve the unique biodiversity and forest landscapes of the Burmese township of Tanintharyi, working closely with local communities.

“With the impact of current climate and biodiversity crises becoming increasingly clear, strong will and action are now urgently needed to create a sustainable future for all. The VELUX Group's commitment to "carbon neutrality for life" is an important example, which others can then follow. "

"Make a pledge consistent with the goal of limiting global temperature rise to 1,5 ° C while protecting important forest landscapes and biodiversity - and the critical services they provide to communities and economy- is a positive and ambitious project in line with responsible climate commitments serving as a foundation for achieving the Sustainable Development Goals. Together, we hope that other companies will be inspired by VELUX's "lifetime carbon neutrality" in order to raise the global ambition of companies in terms of climate action or in favor of nature. "
- Marco Lambertini, Director General of WWF International

The partnership with WWF is more broadly in line with the VELUX Group's “Sustainability Strategy 2030” sustainable development strategy in order to become a CO2030 neutral company by XNUMX. This emission reduction objective is based on science , thanks to the “Science Based Targets Initiative” program^[4]. In order to revolutionize its activity, the VELUX Group is stepping up its investments in energy efficiency at its production sites, the transition to renewable energies and the purchase of 100% renewable electricity. It is also committed to significantly changing the way it selects and purchases materials.

For more information on VELUX's “lifetime carbon neutrality” and the forest conservation projects at the heart of the partnership with WWF, visit velux.com / itsournature.com.

NOTES

^[1] - No standard methodology exists today to calculate a historical carbon footprint. Accurate data on past emission factors and energy consumption often does not exist. The VELUX Group has therefore developed a method for calculating its historical carbon emissions. This method is based on the globally recognized “Greenhouse Gas Protocol Corporate Standard” and applied to historical data. This unique methodology, along with its underlying assumptions, is independently verified by the Carbon Trust and analyzed by WWF experts.

^[2] - Definition of scopes 1 and 2. Scope 1 (direct emissions generated by sources owned or controlled by a company, such as company infrastructure or company vehicles). Scope 2 (indirect emissions from the generation of electricity, steam, heating or cooling used in the activity of the company concerned).

^[3] - The definition of scope 3 includes all other indirect emissions produced within a company's value chain (such as during the purchase of goods and services or the generation and transport of waste).

^[4]- The initiative " Science-based targets Aims to encourage companies to set science-based goals and increase their competitive advantage as they transition to a low-carbon economy. It is part of a collaboration between the CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and is one of the commitments of the We Mean Business coalition. This initiative defines and promotes good practice in the development of science-based goals, provides resources and guidance to reduce barriers to their adoption and analysis, and independently endorses corporate goals.