'More viable returns' | Wind giant Vestas named world's greenest company
Danish turbine OEM tops sustainability ranking by Corporate Knights on circularity and ambitious emission reduction targets while utility Orsted secures energy crown
Vestas has been named the world's most sustainable company in the 18th ranking of Corporate Knights, which stressed leading green performers like the Danish wind turbine manufacturer will in future deliver more viable returns than global peers.
The ranking is based on an assessment across a range of sustainability metrics at 6,014 companies with more than $1bn in revenue. Circularity and ambitious carbon emission reduction targets were highly prevalent among high performers on the index.
“We are rapidly moving towards a future where leading sustainability performers like Vestas will drive more viable returns than their global corporate peers,” Corporate Knights chief executive Toby Heaps said.
“This will form a strong foundation towards achieving a carbon-neutral economy in line with global climate goals.”
Vestas in 2020 had launched a sustainability strategy that placed sustainability as a core priority across the entire value chain, including supplier networks.
“Vestas has successfully helped our partners avoid more than 1.7 billion tonnes of carbon emissions over the past four decades,” said Vestas chief executive Henrik Andersen.
“Building a more sustainable future for our planet however, demands that we do more.
“As the energy transition accelerates, Vestas is dedicated to making sure this transformation unfolds sustainably, in close collaboration with our partners.”
“Improving our sustainability performance has been an opportunity for Vestas to create more value for our partners,” said Vestas sustainability head Lisa Ekstrand.
“Through establishing sustainability as a priority across our entire value chain, including our supplier network, we have created many more opportunities for collaboration, and for driving maturity and scale for the renewables industry.”
The OEM recently has also become a member of the Dow Jones Sustainability Index for Europe.
While Vestas was ranked the most sustainable company in general, fellow Danish company Orsted topped the Corporate Knights ranking of most sustainable energy companies – for the fourth consecutive time.
“We’ve transformed our company completely to get where we are today, and I truly believe that sustainability will be a fundamental premise of all businesses in only a few years’ time,” Orsted CEO Mad Nipper said.
“It’s a leadership challenge, and we don’t have another month, week, or day to waste,” Nipper said.
“Energy is still responsible for over 70% of global emissions, and without an immediate ramp-up in action, the world will not halve emissions by 2030, and our shot at a 1.5 °C future is lost.”