Vestas Wind Systems
ESRS disclosure: ESRS S1 \ DR S1.SBM-3
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- Does the undertaking ensure that all individuals within its own workforce, who may be materially impacted by the undertaking, are encompassed within the scope of disclosure as mandated by ESRS 2? This encompasses impacts arising from the undertaking's operations, value chain, products, services, and business relationships. Furthermore, please provide the requisite information as specified.
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Question Id: S1.SBM-3_01
Vestas' workforce comprises more than 35,000 employees, dedicated to accelerating the energy transition. At Vestas, we value our people immensely, and strive to create a safe, diverse and inclusive working environment for all. Securing employment is a foundational element in an effective workplace. It ensures Vestas’ ability to attract and retain the best talent in the industry – enabling us as an organisation to deliver on our strategic ambition. All members of our workforce who could be materially impacted by Vestas are included in the scope of this disclosure. See the Accounting policies for 'Characteristics of employees' for further information about the scope of impact.
Report Date: 4Q2024Relevance: 85%
- Does the undertaking include all individuals within its workforce who may be materially impacted by its operations in the scope of its disclosure under ESRS 2? Provide a concise description of the types of employees and non-employees within your workforce who are subject to material impacts. Specify whether these individuals are employees, self-employed, or provided by third-party undertakings primarily engaged in employment activities. Ensure that the disclosure encompasses impacts connected with the undertaking’s operations, value chain, products, services, and business relationships.
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Question Id: S1.SBM-3_02
Vestas' workforce comprises more than 35,000 employees, dedicated to accelerating the energy transition. At Vestas, we value our people immensely, and strive to create a safe, diverse and inclusive working environment for all. Securing employment is a foundational element in an effective workplace. It ensures Vestas’ ability to attract and retain the best talent in the industry – enabling us as an organisation to deliver on our strategic ambition. All members of our workforce who could be materially impacted by Vestas are included in the scope of this disclosure. See the Accounting policies for 'Characteristics of employees' for further information about the scope of impact.
Report Date: 4Q2024Relevance: 65%
- Has the undertaking ensured that all individuals within its own workforce who may experience material impacts are encompassed within the scope of disclosure as per ESRS 2 SBM-3? Furthermore, does the undertaking provide information on whether any material negative impacts are either widespread or systemic in the operational contexts, such as instances of child labor or forced labor in specific non-EU regions, or are they related to individual incidents like industrial accidents or oil spills?
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Question Id: S1.SBM-3_03
During 2024, Vestas did not identify any areas with operations at significant risk of incidents of child labor. The Vestas Employee Code of Conduct (the Code) sets out the behavioural expectations Vestas has to the members of its own workforce globally. The Code sets the standards and commitments to ensure a safe and ethical workplace, respecting the human rights of all stakeholders engaged, to create a workplace free from discrimination and to respect human rights. The Code therefore governs Vestas’ approach to managing S1 related IROs under working conditions, health and safety, equal opportunities as well as the G1 IROs related to political engagement, see G1-5 page 127.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the activities within your organization that lead to material positive impacts. Specify the categories of employees and non-employees within your workforce who are positively affected or have the potential to be positively affected by these activities. Additionally, indicate whether these positive impacts are localized to specific countries or regions.
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Question Id: S1.SBM-3_04
Vestas has identified equal treatment and opportunities for all to be material in relation to Vestas’ workforce. We identified material positive impacts relating to diversity and training and skills development. All members of our workforce who could be materially impacted by Vestas are included in the scope of this disclosure. Vestas values the diversity of its workforce, which spans our global operations. We strive to strengthen representation and equity within our workforce while fostering an inclusive culture through initiatives such as recruiting from diverse talent pools, conducting unconscious bias training, and implementing our DEIB policy. Vestas supports growing female participation in corporate leadership positions through a range of practical initiatives including setting internally and externally shared goals. A diverse and inclusive working environment positively impacts all members of the workforce through improved well-being, greater psychological safety, and enhanced opportunities for collaboration and innovation. These benefits are evidenced by recent Employee Engagement Survey (EES) results, highlighting that respondents feel accepted at Vestas. This actual positive impact occurs in our own operations in the short term. Beyond its internal benefits, Vestas’ focus on diversity and inclusion supports our long-term growth and enhances our competitive advantage.
Report Date: 4Q2024Relevance: 85%
- Does the undertaking include all individuals within its own workforce who may be materially impacted in the scope of its disclosure under ESRS 2, as per paragraph 48? Furthermore, provide a detailed account of any material risks and opportunities that arise from impacts and dependencies on the undertaking's own workforce, considering the undertaking's operations, value chain, products, services, and business relationships.
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Question Id: S1.SBM-3_05
Vestas' workforce comprises more than 35,000 employees, dedicated to accelerating the energy transition. At Vestas, we value our people immensely, and strive to create a safe, diverse and inclusive working environment for all. Securing employment is a foundational element in an effective workplace. It ensures Vestas’ ability to attract and retain the best talent in the industry – enabling us as an organisation to deliver on our strategic ambition. All members of our workforce who could be materially impacted by Vestas are included in the scope of this disclosure. See the Accounting policies for 'Characteristics of employees' for further information about the scope of impact.
Report Date: 4Q2024Relevance: 65%
- Does the undertaking's disclosure under ESRS 2 encompass all individuals within its workforce who could be materially impacted by the company's operations, including those within its value chain and business relationships? Specifically, provide detailed information on any material impacts on the workforce that may result from transition plans aimed at minimizing environmental harm and achieving climate-neutral operations. This should include impacts related to the undertaking's strategies and actions to reduce carbon emissions in accordance with international agreements, addressing potential restructuring, employment loss, as well as opportunities for job creation and workforce reskilling or upskilling.
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Question Id: S1.SBM-3_06
We have identified two overarching decarbonisation levers. We allocate financial resources and dedicated resources to meet our emission reduction targets:
- Transition to renewable energy across our own operations to reduce scope 1 and 2 emissions.
- Work with suppliers to reduce supply chain scope 3 emissions from materials and transport.
Scope of priority actions: We prioritise the implementation of our transition plan through priority actions, which are actions that have the greatest potential to reduce our GHG emissions. The scope of these priority actions includes our own operations (scope 1 and 2) and upstream value chain (scope 3). We track progress on these actions across all geographical areas where we operate, and we work in implementation with stakeholders across manufacturing, construction, and service operations, as well as with our suppliers. Vestas acknowledges that transition plans for GHG reductions could potentially have some material impacts on workers. For example, we acknowledge the need to continue to assess and consider the feedback from our colleagues in Service and Manufacturing, and our transitioning to electric vehicles (EVs), to ensure these EVs meet all requirements for standard vehicles and that sufficient training is provided to operate the vehicles.
Report Date: 4Q2024Relevance: 65%
- Does the undertaking include all individuals within its workforce who could be materially impacted by its operations in the scope of its disclosure under ESRS 2, specifically concerning material impacts, risks, and opportunities as outlined in ESRS 2 SBM-3? Furthermore, provide detailed information regarding operations that are at significant risk of incidents of forced labour or compulsory labour, specifying the type of operation, such as a manufacturing plant.
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Question Id: S1.SBM-3_07
During 2024, Vestas did not identify any areas with operations at significant risk of incidents of child labor. The Vestas Employee Code of Conduct (the Code) sets out the behavioural expectations Vestas has to the members of its own workforce globally. The Code sets the standards and commitments to ensure a safe and ethical workplace, respecting the human rights of all stakeholders engaged, to create a workplace free from discrimination and to respect human rights. The Code therefore governs Vestas’ approach to managing S1 related IROs under working conditions, health and safety, equal opportunities as well as the G1 IROs related to political engagement, see G1-5 page 127.
Report Date: 4Q2024Relevance: 50%
- Does your organization include all individuals within its workforce who could be materially impacted by your operations in the scope of your disclosure under ESRS 2? Additionally, identify and disclose any countries or geographic areas where your operations are considered to be at significant risk of incidents involving forced or compulsory labour, in accordance with the requirements of paragraph 48 of ESRS 2 SBM-3.
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Question Id: S1.SBM-3_08
During 2024, Vestas did not identify any areas with operations at significant risk of incidents of child labor. The Vestas Employee Code of Conduct (the Code) sets out the behavioural expectations Vestas has to the members of its own workforce globally. The Code sets the standards and commitments to ensure a safe and ethical workplace, respecting the human rights of all stakeholders engaged, to create a workplace free from discrimination and to respect human rights. The Code therefore governs Vestas’ approach to managing S1 related IROs under working conditions, health and safety, equal opportunities as well as the G1 IROs related to political engagement, see G1-5 page 127.
Report Date: 4Q2024Relevance: 50%
- Provide a detailed account of the types of operations within your organization that are at significant risk of incidents involving child labor. This disclosure should align with the requirements set forth in ESRS 2 SBM-3, focusing on material impacts, risks, and opportunities, and their interaction with your strategy and business model. Ensure that the scope of this disclosure encompasses all individuals within your workforce who may be materially impacted by your operations, including those within your value chain, products, services, and business relationships. Specify the type of operation, such as a manufacturing plant, that is at risk.
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Question Id: S1.SBM-3_09
During 2024, Vestas did not identify any areas with operations at significant risk of incidents of child labor. The Vestas Employee Code of Conduct (the Code) sets out the behavioural expectations Vestas has to the members of its own workforce globally. The Code sets the standards and commitments to ensure a safe and ethical workplace, respecting the human rights of all stakeholders engaged, to create a workplace free from discrimination and to respect human rights. The Code therefore governs Vestas’ approach to managing S1 related IROs under working conditions, health and safety, equal opportunities as well as the G1 IROs related to political engagement, see G1-5 page 127.
Report Date: 4Q2024Relevance: 50%
- Does the undertaking include all individuals within its workforce who may be materially impacted by its operations in the scope of its disclosure under ESRS 2, specifically addressing material impacts, risks, and opportunities as they relate to its strategy and business model? Furthermore, does the undertaking identify and disclose any countries or geographic areas where its operations are considered to be at significant risk of incidents of child labour, in accordance with the requirements set forth in paragraph 48?
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Question Id: S1.SBM-3_10
During 2024, Vestas did not identify any areas with operations at significant risk of incidents of child labor. The Vestas Employee Code of Conduct (the Code) sets out the behavioural expectations Vestas has to the members of its own workforce globally. The Code sets the standards and commitments to ensure a safe and ethical workplace, respecting the human rights of all stakeholders engaged, to create a workplace free from discrimination and to respect human rights. The Code therefore governs Vestas’ approach to managing S1 related IROs under working conditions, health and safety, equal opportunities as well as the G1 IROs related to political engagement, see G1-5 page 127.
Report Date: 4Q2024Relevance: 60%