A commitment to reduce carbon emissions
Published on 16th April 2019
It is with pleasure that we can announce Vestas’ formal signature to the Science Based Targets Initiative (SBTi) led by the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature.
Climate change is the biggest challenge of our times and the reason why Vestas exists as a global business. Despite the introduction of climate change mitigation measures by governments, companies, civil society and other actors, total global greenhouse gas emissions continue to increase. This increase means that global mean temperatures are projected to increase by 3.7 to 4.8°C by the end of this century, far beyond the levels of warming that the international scientific community has identified as safe.
Our work at Vestas is to reduce greenhouse gas emissions by driving the transition to replace carbon-based energy generation with renewable energy. With an aspiration to be the Global Leader in Sustainable Energy Solutions, our 24,000 employees are committed to developing competitive energy solutions that can meet the world’s growing electricity demand. However, for Vestas, a Global Leader in Sustainable Energy Solutions means going beyond delivering sustainable solutions. It means taking full responsibility for our company’s footprint on this planet.
That is why Vestas is committing to improve on its sustainability performance by developing a measurable and science-based emission reduction target aligned with climate science.
Within a period of twenty-four months or less, Vestas will develop a carbon emission reduction target for review by SBTi experts. Once reviewed and approved by the SBTi, that target will be publicly announced. In making this commitment, Vestas joins at least 548 other leading companies who have already committed to reduce their greenhouse gas emissions under the umbrella of the SBTi.
The implications of this commitment mean that Vestas will launch a process to further understand our current greenhouse gas emissions footprint and consider additional means of reducing that footprint, in collaboration with suppliers, customers, and other stakeholders across our business.
“This marks a significant step in our journey to become the Global Leader in Sustainable Energy Solutions. Vestas’ to date 66,000 installed wind turbines have saved the world from hundreds of millions of tonnes of CO2. Now we are taking our ambitions to save CO2 emissions one step further, and the SBTi framework offers the opportunity to do so in a clear, timely and transparent manner. We look forward to work with other committed companies and to learn from each other and be inspired”, says Lisa Malmquist Ekstrand, Senior Director and Head of Sustainability at Vestas – a newly-created position that will coordinate Vestas’ efforts to become an even more sustainable company.
About the SBTi:
- Science Based Targets is a joint initiative by CDP, the UN Global Compact, the World Resources Institute, and WFF that aims to raise corporate ambition and help businesses pursue solutions to climate change.
- The initiative supports companies to set emission reduction targets in line with the level of decarbonisation required to keep global temperature increase below 2°C compared to pre-industrial temperatures, as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC AR5).”
- Companies committing to the SBTi have 2 years to develop a science-based target, and which will be independently validated by the SBTi’s team of technical experts.
To read more, please visit: www.sciencebasedtargets.org/companies-taking-action/