ESG related
Vestas Sustainability Report 2021
The turbines produced and shipped in 2021 are expected to avoid 532 million tonnes of CO2e over their lifetime. We launched the Circularity Roadmap, recycled our first 285 blades, and initiated the CETEC project to design the world's first circular blade. We achieved a record low total recordable injury rate of 3.1 per million working hours, increased our women in leadership from 19 to 21 percent, and reached 8,236 direct community beneficiaries through our CSR work. More information about these topics and many others can be found in the Sustainability Report 2021 titled "Leading the energy transition".
"Sustainability in everything we do"
In 2020, Vestas launched a Sustainability Strategy with four key goals and ambitious targets:
1. Carbon neutrality by 2030 without carbon offsets
2. Zero-waste wind turbines by 2040
3. To be the safest, most inclusive, and socially responsible company in the energy industry
4. Leading the transition to a world powered by sustainable energy
ESG questionnaires and ratings
At Vestas we welcome the increased focus on and need for transparent ESG reporting. At the same time, we see a growing demand for providing the needed data and have therefore implemented a yearly evaluation process to determine which ratings and indices to support in the coming year.
Much of the information and data investors are looking for is readily availabe in our Sustainability Reports, and hence we encourage you to start here, if you have questions related to our approach to and data on environmental, social, and governance topics.
Corporate Governance Reports
The Board is continuously vigilant of the guidelines and processes that are in place for the running of Vestas. This ensures that – at any given time – management has the necessary framework to be able to conduct business in the spirit of Vestas’ values – accountability, collaboration, simplicity, and passion.
Pursuant to the Danish Financial Statements Act section 107 b and the rules of Nasdaq Copenhagen, listed companies must state their position to the Committee’s recommendations by using the “comply or explain” principle.
Vestas’ position with regard to each individual recommendation is described in Vestas’ statutory reports. It is specified in the recommendations on corporate governance that it is just as legitimate to explain a deviation from a specific recommendation as to comply with the recommendation. The key issue is to create transparency in the corporate governance of the company.
Statutory reports on corporate governance, cf. section 107 b of the Danish Financial Statements Act
- File title:
- 2021 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2020 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2019 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2018 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2017 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2016 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2015 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2014 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2013 Corporate Governance Report

- Description:
Statutory Report on Corporate Governance
- File title:
- 2012 Corporate Governance Report
Remuneration reports
As of 2020, the Remuneration Report has been prepared in accordance with section 139 b of the Danish Companies Act and the European Commission Guidelines on the standardised presentation of the remuneration report.
The Remuneration Report provides the overview of the total remuneration received by the Board of Directors and the Executive Management of Vestas Wind Systems A/S during a financial year with comparative figures for the past five years.
Remuneration Policy
The overall objective of the Remuneration Policy is to attract, motivate, and retain qualified members of the Board and Executive Management, to align the interests of the Board and Executive Management with the interests of our shareholders and stakeholders as well as to support Vestas’ strategic goals and promote value creation aligned to the interest of the shareholders.
Our vision of becoming the global leader in sustainable energy solutions requires Vestas to sustain a talented, agile, and cost-effective organisation. This combined with the long-term performance of the Company and the corporate values – Simplicity, Collaboration, Accountability, and Passion – guides the overall principles for and the individual elements of remuneration for both the Board and Executive Management. To ensure that Vestas’ remuneration promotes both strategic goals as well as long-term value creation and sustainability, the remuneration includes both fixed remuneration, short-term incentives, and long-term incentives.
Statutory remuneration reports, cf. section 139 b of the Danish Companies Act
- File title:
- 2021 Remuneration Report

- Description:
Remuneration Report
- File title:
- 2020 Remuneration Report

- Description:
Remuneration Report
- File title:
- 2019 Remuneration Report
Additional reports
Statutory report on gender distribution
Pursuant to the Danish Financial Statements Act section 99 b Vestas prepares a statutory report on gender distribution.
As of the financial year 2020, our reporting regaring gender distribution and diversity is inclueded in the annual sustainability report.
Other reports
Other reports or documents that we are obligated to make available online.
Statutory gender distribution reports, cf. section 99 b of the Danish Financial Statements Act
- File title:
- 2020 Sustainability Report
- Description:
- Vestas - Statutory Report on Gender Distribution 2019
- File title:
- 2019 Report on Gender Distribution
- File title:
- 2018 Report on Gender Distribution