This is the VELUX Group’s fifth annual Corporate Responsibility Report.
Purpose of the report
The purpose of the VELUX Corporate Responsibility Report is to provide stakeholders with an overall transparent, fair and balanced picture of the VELUX Group as a Model Company, which is the foundation of how we work with Corporate Responsibility. Corporate Responsibility reporting is a journey and we believe we are making good progress towards achieving the purpose of the report.
The Corporate Responsibility Report is targeted at our international customers, politicians and authorities, interest groups, journalists, CR professionals, as well as current and potential employees globally.
Unless otherwise stated, the data and reporting relates to the entire VELUX Group, i.e. production sites, distribution centres, administration and sales offices. Suppliers and other third parties are included only in the specific reporting on business partners. The report covers the 2015 calendar year.
The report was compiled using the principles of the Global Reporting Initiative (GRI), Sustainability Reporting Guideline as guidance.
The topics that are important for us to report on to our audience were identified through a number of activities. Most of these activities are part of daily operations and reflect an understanding of and response to stakeholder concerns. Other activities were conducted with the purpose of developing the understanding of our Corporate Responsibility performance. These include surveys and benchmark studies.
Defining key issues
To define our most important areas in Corporate Responsibility, we have identified the issues ‒ based on where the organisation has economic, environmental and social impacts ‒ that significantly impact the success of our business and are of great importance to our stakeholders. This includes risk management, legal matters and market prediction as well as an assessment of Corporate Responsibility in relation to our business strategy.
The environmental and health and safety data in the report was collected, compiled and validated by the VELUX Group’s HS&E function, the human resource data by the VELUX Group’s Human Resource function. Data on anti-corruption and anti-competitive behaviour has been collected by the relevant internal issue owners, whereas brand and satisfaction tracking was carried out by an external party. The data is collected annually according to a fixed reporting procedure. Data was compiled for the calendar year 2015 as end-of-the-year data with the exception of brand and satisfaction tracking, which was compiled during the year.
In 2015, there have been two major updates on the Carbon Footprint accounting. The influence of weather (cold/warm year) on heating energy consumption has been neutralised by using degree day corrected figures. To present a more accurate and detailed Carbon Footprint, we are now using a national CO2 equivalent of energy conversion factors for all factories. The changes have resulted in recalculation of VELUX Group emissions between 2007 and 2015.