Vestas Wind Systems
ESRS disclosure: GOV-3_02
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- Provide a detailed description of the key characteristics of the incentive schemes and remuneration policies linked to sustainability matters for members of the undertaking's administrative, management, and supervisory bodies, as required under Disclosure Requirement GOV-3.
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Question Id: GOV-3_02
The remuneration of the Executive Management team is linked to the results of Vestas’ financial and sustainability performance, through incentives. The annual process for selecting KPIs and setting targets for the incentives is based on Vestas’ strategic direction, and the KPIs are approved by the Board in the second quarter of the annual meeting cycle. The process includes input from each business area and leads to consolidated strategic prioritisation from the Executive Management and the Board when deciding KPIs and targets. For the Executive Management team, 10 percent of the short-term incentive scheme is linked to climate-related KPIs in the form of the KPI 'GHG emissions avoided.' During the year, no short-term incentives were paid to the Executive Management team linked to climate-related targets as the said targets were not met. The long-term incentives are not linked to sustainable targets, nor is the base remuneration. For the Board, 0 percent of the remuneration is linked to climate-related considerations.
Report Date: 4Q2024Relevance: 85%