The VELUX Group has committed to a 100% reduction in scope 1&2 by 2030. By 2023, we have already more than halved our scope 1&2 emissions, from 52 tonnes CO2e to 23 tonnes CO2e since 2020. This puts us on track to achieving our operational emissions target. This reduction target is part of our commitment to the Science Based Targets initiative in line with the most ambitious pathway of the Paris Agreement.
To achieve our target, we are currently transitioning to 100% renewable energy and investing in energy efficiency across all our sites. We are investing in bioboilers that use onsite wood waste from certified forestry, heat pumps, and other renewable solutions for our production sites. Once all the currently planned projects become operational in 2027, they are expected to save about 10,000 tonnes of CO2e annually.
Committed to 100% renewable electricity
In 2020, the VELUX Group joined RE100. This global initiative brings together influential businesses committed to accelerating change towards zero carbon grids at scale. By joining RE100, VELUX has committed to sourcing 100% renewable electricity by 2023. This target was met in 2023.
To secure additional renewable electricity, we have signed two renewable Virtual Power Purchase Agreements (PPAs) enabling two new solar (photovoltaic) PV parks in Spain. Once connected to the grid in 2024 and 2025, these new solar parks will generate 167GWh of renewable electricity each year. That is enough power to cover all VELUX Group European operations today - and several years ahead - and it constitutes about 90% of our current global electricity consumption.
The remaining renewable power is supplied by onsite solar PV installations and purchase of renewable power certificates in countries where PPAs are not yet possible.
The VELUX Group signed virtual power purchase agreements with BayWa r.e. that will drive the development of two new solar parks in southern Spain.
When both projects are completed and connected to the grid, the solar plants will generate enough power to cover all the VELUX Group’s European operations.
Energy efficiency – the first fuel
We are constantly looking for new ways to enhance energy efficiency. Since 2010 this has been our strategy and we started with a focus on investing in our production sites with the biggest energy consumption. As a result of this, we have already increased our energy efficiency by 49% from 2010 to 2020 measured in total energy consumption per revenue (MWh/EUR net sales). We will continue to improve further by continued investments in energy efficiency on our sites.
In the VELUX Group, 98% of our carbon footprint relates to scope 3 emissions and comes from outside our own operations - the majority from the materials used in our products. To reach our ambitious targets of reducing CO2e from our value chain, we have identified and are working with several decarbonisation levers.