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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Vestas Wind Systems A/S    VWS   DK0010268606

VESTAS WIND SYSTEMS A/S

(VWS)
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Delayed Quote. Delayed NASDAQ OMX COPENHAGEN - 09/25 11:09:59 am
956.8 DKK   -0.10%
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Vestas Wind A/S : becomes first renewable energy manufacturer with verified climate targets in line with 1.5°C scenario

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08/05/2020 | 08:04am EDT

News release from Vestas Wind Systems A/S
Aarhus, 5 August 2020

As a leading renewable energy company, Vestas is proud to announce that the Science Based Targets Initiative[[1]] (SBTi) has validated our greenhouse gas reduction targets and confirmed them as in line with the levels required to keep global warming to 1.5°C above pre-industrial temperatures, the most ambitious goal of the Paris Agreement. Vestas is the first renewable energy manufacturer to have its targets validated by the SBTi as consistent with a 1.5°C scenario. The target validation follows Vestas' announcement in January 2020 to become carbon neutral, without the use of offsets, by 2030.

"At Vestas, we are proud to reach this milestone with SBTi. Becoming carbon neutral by 2030 is a key element within Vestas' goal of becoming the global leader in sustainable energy solutions", said Henrik Andersen, CEO and President of Vestas. "With several nations and global businesses outlining intentions for a green economic recovery from COVID-19, the renewables industry is set to become a more dominant resource in the global energy mix. As the world's leading supplier of wind energy, Vestas is determined to ensure that the industry continues to minimize environmental impacts as it scales".

"Vestas' science-based targets put the company on a pathway to reach zero emissions faster than what science tells us is needed," said Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners. "By setting targets that are grounded in climate science, Vestas is positioning themselves as leaders in their sector and setting themselves up for success in the transition to a net-zero economy".

The 1.5°C target classification is the most ambitious designation available through the SBTi validation process and covers Vestas' targets to reduce emissions from direct operations (scope 1 and 2 emissions) by 100 percent by 2030 from a 2019 base year. Separately, Vestas' target for reducing emissions from its supply network (scope 3 emissions) by 45 percent per MWh generated by 2030 has also been validated as notably ambitious. In a recent report, the IPCC stipulates that limiting the rise in the global temperature to 1.5°C, as opposed to 2°C, will significantly reduce the risk of extreme impacts from climate change.

The 1.5°C scenario of the Paris Agreement outlines the measures required to limit the global temperature increase to 1.5°C above pre-industrial temperatures. Ensuring that all direct operations are closely aligned with the 1.5°C scenario is necessary for Vestas to ensure that the company can remain sustainable as it scales its position within the energy sector's supply chain. A recent report from the Carbon Disclosure Project (CDP) found that company supply chains produce on average five times more emissions than direct operations. The research also found that increasing the proportion of renewable energy within supply chains is an effective pathway to address emissions.

"Limiting global warming to 1.5°C above pre-industrial temperatures cannot be achieved if all global actors work in isolation, we must adopt a collaborative approach," said Lisa Ekstrand, Head of Sustainability at Vestas. "At Vestas, we recognize that as a global leader within the renewable industry's value chain, we have a responsibility to be ambitious in our approach to reducing greenhouse gas emissions. This has been the driving force behind devising our strategy for becoming carbon neutral, and for reducing emissions in our supply chain."

Company cars are gradually being replaced across Vestas with more sustainable alternatives. Close to 100 green service vehicles are now in operation, signalling Vestas' first step within direct operations toward its 2030 goal. Moving forward, Vestas will be also be focusing on fulfilling its ambitions for reducing greenhouse gas emissions within its own supply chain, in line with its target of a 45 percent reduction. To support this goal, Vestas has already established partnerships with several suppliers, including DSV, to improve its emission reductions within transport and turbine manufacture.
For more information, please contact:
Anders Riis, Head of Communications
Tel: +45 4181 3922
Mail:  anprr@vestas.com
About Vestas
Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service wind turbines across the globe, and with more than 115 GW of wind turbines in 81 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 98 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas' more than 25,500 employees are bringing the world sustainable energy solutions to power a bright future.

For updated Vestas photographs and videos, please visit our media images page on: https://www.vestas.com/en/media/images.
We invite you to learn more about Vestas by visiting our website at www.vestas.com and following us on our social media channels:

· www.twitter.com/vestas 
· www.linkedin.com/company/vestas
· www.facebook.com/vestas  
· www.instagram.com/vestas   
· www.youtube.com/vestas
 

[1] SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). SBTi is a global initiative that defines and promotes best practice in science-based target setting and independently assesses and approves company targets.

https://news.cision.com/vestas-wind-systems-a-s/r/vestas-becomes-first-renewable-energy-manufacturer-with-verified-climate-targets-in-line-with-1-5-c-,c3164426

https://mb.cision.com/Public/18886/3164426/9e50b62dae91ea46.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 14 445 M 16 800 M 16 800 M
Net income 2020 581 M 676 M 676 M
Net cash 2020 2 368 M 2 754 M 2 754 M
P/E ratio 2020 43,5x
Yield 2020 0,78%
Capitalization 25 146 M 29 229 M 29 245 M
EV / Sales 2020 1,58x
EV / Sales 2021 1,53x
Nbr of Employees 25 865
Free-Float 99,4%
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Mean consensus HOLD
Number of Analysts 23
Average target price 117,83 €
Last Close Price 128,41 €
Spread / Highest target 20,5%
Spread / Average Target -8,24%
Spread / Lowest Target -45,1%
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Managers
NameTitle
Henrik Andersen President & Group Chief Executive Officer
Anders Erik Runevad Chief Executive Officer
Bert Åke Stefan Nordberg Chairman
Tommy Rahbek Nielsen Chief Operating Officer
Marika Fredriksson Chief Financial Officer & Executive Vice President