Sustainability Report 2024

The VELUX Group has seen a steady reduction in its emissions from own operations (scope 1 and 2) from 52kt CO₂e in 2020 to 21kt CO₂e in 2024. This is a total reduction of 60% - whereof 11% is achieved in 2024 primarily due to an ongoing switch to renewable energy sources and improvements in energy efficiency at VELUX productions sites.

The VELUX Group also continued its efforts on reducing scope 3 emissions in its value chain in 2024. Scope 3 emissions decreased slightly to 1,153kt CO₂e - a 0,53% decrease compared to 2023. This is primarily due to efforts to procure and incorporate lower carbon materials in VELUX products. VELUX furthermore entered a long-term agreement with ArcelorMittal to ensure a ten-year guaranteed supply of lower-carbon-emission-steel.

A strengthened focus on circularity and biodiversity

In line with the VELUX Group’s ambition to integrate circularity across its value chain, the company initiated four circularity projects across different markets in 2024 to test circular business opportunities in customer offerings. The aim is to gather insights into areas such as take back schemes, refurbishment and maintenance service to be able scale the principles.

In 2024, the VELUX Group accelerated its efforts to protect and enhance biodiversity - an essential foundation for resilient ecosystems and long-term business success. A new methodology was developed to assess biodiversity at VELUX sites, along with a catalogue of concrete actions to improve local ecosystems. The first assessments at six sites in Denmark, Poland, Italy, and Hungary established a baseline to guide future improvements.

“I am very pleased that we continue to make progress on our CO₂ emissions reductions as this is an important task for all companies. As a leader within the roof window category, we have an ambition to drive the circularity agenda together with our partners to further decarbonise the building industry. In 2024, we took important steps to strengthen the circularity of our business, and we are already getting good indications from these projects. Next step will be to focus on how to implement circularity across our business – from the product design all the way to end of use – and most importantly, to do this together with our customers. I’m also pleased that we have increased the number of women in management globally to 31% - an important step towards making VELUX an even more diverse and inclusive company,” says Lars Petersson, CEO of the VELUX Group.  

Additional sustainability highlights from 2024:

·       3-percentage point increase in both women in management (to 31%) and women in senior management (to 35%) and compared to 2023

·       For the second consecutive year, VELUX received a gold rating from the global sustainability ratings organization EcoVadis.

·       VELUX signed up to the EV100 and increased its share of electric cars as part of its total car fleet by 8,74% in 2024

·       VELUX set a new target on Energy intensity of a 56% reduction from baseline year 2015 to 2030 by increasing energy efficiency and energy management

·       VELUX joined the coalition behind the Children’s Living Places project, led by SOS Children’s Villages Denmark. A project aiming to reform the childcare sector in Ukraine and help rebuild homes to foster families with a low CO₂ footprint and a healthier indoor climate based on the Living Places principles.

See more sustainability highlights from 2024: VELUX Sustainability 

Read the full 2024 Sustainability Report here.