The 2024 resilience analysis of our strategy demonstrates capability to address material IROs with our current strategic and operational initiatives and to take advantage of material opportunities. The changes to IROs compared to the previous reporting period had not been extensive, thus Vestas has been working with managing and pursuing many of the IROs in a strategic perspective for several years. Nevertheless, it is the first time we assess some of these areas both in terms of financial impact and dependency, and more insight remains to be gained.

The analysis was conducted based on input from our climate and biodiversity resilience analysis, evaluation of mitigation actions, financial impact assessments, and dependency analysis on natural and social resources. All areas were assessed in line with a short-term time horizon that is current year to less than three years, which correlates with our corporate strategy and enterprise risk management approach.

In 2025, the plan is to strengthen this analysis further vis-à-vis material IROs by improving the methodology, including mid- and long-term time horizons in line with the CSRD requirements. Therefore, Vestas has chosen not to disclose a more in-depth analysis overview for 2024 as defined by ESRS 1, SBM-3.