Vestum sets long-term sustainability targets for 2040

Sustainability is a strategically important issue for Vestum and we have made a long-term commitment to contribute to a sustainable society.

Vestum’s board has therefore set long-term sustainability targets for Vestum’s operations. The purpose of the sustainability targets is to create a clear picture for Vestum’s stakeholders, both internal and external, when it comes to Vestum’s long-term sustainability work. The targets extend to 2040 and focus on areas that are deemed to be especially important from a sustainability perspective for the operations that Vestum conducts. The set sustainability targets are described below.

Climate – Vestum shall reach net zero climate impact by 2040

The climate is one of the biggest challenges of our time and Vestum is active in sectors that are currently responsible for considerable climate emissions. Vestum must therefore act to decrease its negative impact on the climate, and any unavoidable negative impact on the climate must be offset through measures that bind carbon dioxide. The target is for Vestum to reach net zero climate impact by 2040 (applies to scope 1, 2 and 3). Vestum’s board has also decided that Vestum shall set science-based climate targets, and a process will be initiated to have these targets approved by the SBTi (Science Based Targets initiative).

Biodiversity – Vestum shall reach net zero impact on biodiversity by 2040

Biodiversity is, along with the climate issue, of central importance to the future stability of our societies. Vestum’s businesses must therefore take into account the environment, nature and ecosystems they operate in to minimise the negative impact on biodiversity from Vestum’s own operations and value chains. Any unavoidable negative impact needs to be offset through measures that promote biodiversity. The target is for Vestum to reach net zero impact on biodiversity by 2040.

Work environment – Vestum shall have no serious work accidents by 2040

The framework for Vestum’s operations includes jobs that are physically challenging or expose workers to other forms of increased risk. Work environment issues therefore have the highest priority for Vestum. The target is for Vestum to have no serious accidents at work by 2040 at the latest.

Gender equality – Vestum shall have an even gender balance by 2040

It is of central importance to Vestum’s success that all available skills are utilised and that Vestum provides a gender equal and inclusive work environment. Vestum also operates in sectors where there is a general need for improved gender equality, which Vestum wants to actively contribute toward. The target is for Vestum to have an even gender balance by 2040, in terms of the total number of employees in the Group.

Skills recruitment – Vestum shall create 1,000 internships and apprenticeships by 2040

Vestum wants to contribute to social sustainability by offering internships and apprenticeships. Vestum can thereby contribute to increased employment opportunities and diversity, while also lowering unemployment. The target is for Vestum to have created 1,000 internships and apprenticeships by 2040.

Vestum’s sustainability work during 2023

During 2023, interim targets will be established for the respective sustainability targets. The purpose of the interim targets is to clarify what must be implemented and achieved in the short term in order for Vestum to have the opportunity to reach its long-term sustainability targets.

Comments from Vestum’s Head of Sustainability Sara Haasmark:

It feels great that Vestum’s long-term sustainability targets have been established and I really look forward to continuing to develop Vestum’s sustainability work through interim targets and activities in order to achieve the long-term targets. It is important that we work systematically and together in our endeavour to reach a sustainable society.