Vestas, a global leader in sustainable energy solutions, has been named the most sustainable company in the 18th annual ranking of the world’s most sustainable corporations, published by Corporate Knights.
The ranking is based on a detailed assessment of 6,914 companies, each with more than US$1 billion in revenue, where performance across a range of sustainability metrics is evaluated.
The index revealed circularity and ambitious carbon emissions reduction goals as highly prevalent amongst high performers. The ranking is linked to the industry-leading progress of Vestas’ sustainability strategy.
Launched in 2020, the strategy has established sustainability performance as a core priority across the entire value chain, including across its supplier network.
As part of the strategy, Vestas recently launched an ambitious circularity roadmap and governance structure, along with having its carbon emissions reduction targets for internal operations validated by the Science Based Targets initiative, as being in line with the 1.5 degree scenario of the Paris Agreement.
“Vestas has successfully helped our partners avoid more than 1.7 billion tonnes carbon emissions over the past four decades. Building a more sustainable future for our planet however, demands that we do more. As the energy transition accelerates, Vestas is dedicated to making sure this transformation unfolds sustainably, in close collaboration with our partners”, said Henrik Andersen, CEO and President, Vestas.
“Improving our sustainability performance has been an opportunity for Vestas to create more value for our partners. Through establishing sustainability as a priority across our entire value chain, including our supplier network, we have created many more opportunities for collaboration, and for driving maturity and scale for the renewables industry. Although we still have a long journey ahead, we are proud to be paving the way for renewables to expand without compromising the interests of future generations”, said Lisa Ekstrand, Vice President and Head of Sustainability, Vestas.
“We are rapidly moving towards a future where leading sustainability performers like Vestas will drive more viable returns than their global corporate peers. This will form a strong foundation towards achieving a carbon-neutral economy in line with global climate goals”, said Toby Heaps, CEO, Corporate Knights.
Since its launch, Vestas’ sustainability strategy has elevated sustainability performance across several areas. Ongoing sustainability initiatives include circular product design initiatives, reducing CO2 emissions and waste production from manufacturing, alignment of sustainability goals with strategic suppliers and replacing all combustion vehicles with electric vehicles in Service, as well as benefit cars.
In addition to being the strongest performer within the Corporate Knights ranking, Vestas has recently been recognised as a leading performer by CDP, and is now also a member of the Dow Jones Sustainability Index for Europe.
Vestas is the energy industry’s global partner on sustainable energy solutions. The company designs, manufactures, installs and service onshore and offshore wind turbines across the globe, and with more than 145 GW of wind turbines in 85 countries, it is a market leader.
Through its industry-leading smart data capabilities and unparalleled more than 123 GW of wind turbines under service, Vestas uses data to interpret, forecast, and exploit wind resources and deliver bestin-class wind power solutions. Together with its customers, Vestas’ more than 29,000 employees are bringing the world sustainable energy solutions to power a bright future.
Corporate Knights Inc. includes the sustainable-business magazine Corporate Knights and a research division that produces rankings and financial product ratings based on corporate sustainability performance.
About the Global 100 Methodology
All companies are scored on applicable metrics relative to their peers, with 50% of the weight assigned to Clean Revenue and Clean Investment. Nine of the indicators have fixed weights; the rest are assigned weights according to each industry’s relative and total impact in relation to the overall economy. After quantitatively analyzing data for 23 key performance indicators, this year’s overall scores were converted to letter grades.