Vestas Wind Systems
ESRS disclosure: ESRS E1 \ DR E1.SBM-3
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- Provide an explanation for each identified material climate-related risk, specifying whether the entity classifies the risk as a climate-related physical risk or a climate-related transition risk, in accordance with the Disclosure Requirement related to ESRS 2 SBM-3 concerning material impacts, risks, and opportunities and their interaction with strategy and business model.
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Question Id: E1.SBM-3_01
Scope 1 and 2 GHG emissions: The emissions from Vestas' own operations have a material negative impact on the climate, with 105 thousand tonnes of combined scope 1 and 2 emissions in 2024. This actual negative impact occurs in our own operations across the short, medium and long term.
Scope 3 GHG emissions: Scope 3 emissions represent a material negative impact for Vestas, as 98.8 percent of our total greenhouse gas emissions occur in our value chain. In 2024, 7.99 million tonnes of CO2e were emitted from our value chain, and our value chain scope 3 emission intensity was 56.6 kg/MWh. This actual negative impact occurs across the short, medium and long term.
Report Date: 4Q2024Relevance: 50%
- Provide a detailed account of the resilience of your strategy and business model concerning climate change. Include a comprehensive description of the scope of the resilience analysis as per the Disclosure Requirement related to ESRS 2 SBM-3, focusing on material impacts, risks, and opportunities and their interaction with your strategy and business model.
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Question Id: E1.SBM-3_02
Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of the resilience analysis conducted on your strategy and business model concerning climate change. Include specifics on the timing and methodology of the analysis, particularly the application of climate scenario analysis as outlined in the Disclosure Requirement related to ESRS 2 IRO-1 and its associated application requirement paragraphs.
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Question Id: E1.SBM-3_03
Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.
Report Date: 4Q2024Relevance: 70%
- Provide a detailed account of the resilience analysis conducted on your strategy and business model concerning climate change. Include specifics on the timing and methodology of the analysis, particularly the application of climate scenario analysis as outlined in ESRS 2 IRO-1 and its associated application requirements.
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Question Id: E1.SBM-3_04
Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.
Report Date: 4Q2024Relevance: 20%
- Provide a detailed explanation of the time horizons applied in your resilience analysis, ensuring alignment with the climate and business scenarios used to determine material physical and transition risks, as well as in setting GHG emissions reduction targets. This disclosure should correspond to the requirements outlined in paragraphs AR 11 to AR 12 and should be consistent with the information reported under Disclosure Requirement E1-4.
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Question Id: E1.SBM-3_05
Scope 1 and 2 GHG emissions: The emissions from Vestas' own operations have a material negative impact on the climate, with 105 thousand tonnes of combined scope 1 and 2 emissions in 2024. This actual negative impact occurs in our own operations across the short, medium and long term.
Scope 3 GHG emissions: Scope 3 emissions represent a material negative impact for Vestas, as 98.8 percent of our total greenhouse gas emissions occur in our value chain. In 2024, 7.99 million tonnes of CO2e were emitted from our value chain, and our value chain scope 3 emission intensity was 56.6 kg/MWh. This actual negative impact occurs across the short, medium and long term.
Report Date: 4Q2024Relevance: 30%
- Provide a detailed account of the resilience of your strategy and business model concerning climate change. This account should encompass the outcomes of the resilience analysis, incorporating results derived from scenario analysis, as stipulated under Disclosure Requirement ESRS 2 SBM-3 regarding material impacts, risks, and opportunities and their interaction with strategy and business model.
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Question Id: E1.SBM-3_06
Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed explanation of your company's capacity to modify or adapt its strategy and business model in response to climate change over the short, medium, and long term. This should include an assessment of your ability to maintain access to finance at a reasonable cost of capital, the potential to redeploy, upgrade, or decommission existing assets, the capability to shift your products and services portfolio, and the initiatives to reskill your workforce. This disclosure should align with the resilience analysis results as required under paragraph 19 (c) and should address the anticipated financial effects from significant physical and transition risks, as well as potential climate-related opportunities, in accordance with Disclosure Requirement E1-9 and ESRS 2 SBM-3.
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Question Id: E1.SBM-3_07
Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.
Report Date: 4Q2024Relevance: 60%