CO2 Emissions to be Cut by 50 Percent

COPENHAGEN, Denmark, - Responsibility for the environment is firmly anchored in the VELUX values and the commitment to behave like a model company.

VELUX is now intensifying its efforts in climate protection by making considerable investments and setting ambitious goals. Its strategy is two-fold: reduction of the company's own environmental impact and environmentally beneficial improvements in the use of the company's products.

"Although we have focused continually on ensuring efficient use of our resources, it is our belief that we now need to do even more by setting concrete objectives for our own efforts. Our climate is changing and there is a need to reduce CO2 emissions and thereby global warming. We all have a responsibility to contribute to alleviating global climate problems -- and we take that responsibility very seriously. So we have drawn up a new and ambitious climate policy," says VELUX CEO Jorgen Tang-Jensen.

VELUX has set the goal of reducing the Group's 2007 global CO2 loads by 20% by 2012 and 50% by 2020. To achieve this goal, the company is making investments of up to DKK 400 million over the next few years in a series of energy-improving initiatives.

According to the VELUX Group's CO2 accounts, CO2 emissions in 2007 amounted to 100,000 tons.

More efficient production and operation

VELUX production accounts for about 95% of the Group's total CO2 emissions, and initiatives to cutting that figure are aimed primarily at reducing the energy consumed by production facilities.

VELUX is well on the way in several areas and current and planned initiatives for operational optimisation include:

* heating by boiler units fuelled on wood chips from production * optimisation of wood-chips suction with compressed air * optimisation of compressor technology.

About 5% of the Group's total CO2 emissions comes from VELUX sales companies and administration, and a series of initiatives will be implemented here too to optimise energy consumption, including energy-saving measures, review of forms of travel, optimisation of use of paper and 'green checks' of activities.

On the way to climate-neutral building

"Apart from focussing on CO2 emissions from our own production, we also work intensively on supplying products that help others to reduce CO2 emissions from buildings. With our products and the way they are used, we wish to contribute to more sustainable building. We call it Sustainable Living. Buildings account for 40% of the western world's total energy consumption. We need to reduce that level, so it is perfectly natural that we, as a building components manufacturer, take our share of the responsibility for doing that," says CEO Jorgen Tang-Jensen.

VELUX has a vision for the sustainable buildings of the future. To demonstrate its vision, over the next two years VELUX will collaborate with a number of building components manufacturers in constructing six CO2-neutral houses intended for experimentation with technological solutions. The houses will be monitored and measured for energy consumption and indoor climate and the experience will be used in future VELUX product development. The concept is called Model Home 2020. Its objective is to create climate-neutral buildings with an optimal indoor climate, fresh air and daylight.

Respect for the climate and financial performance are interconnected

"Reduction of our climate impact is an important part of our social responsibility as a company. At the same time, we believe that by acting in an environmentally responsible manner we also make a contribution to ensuring more efficient and more cost-effective production and operation, the continued relevance of VELUX products and enhancement of our reputation. We also firmly believe that respect for the climate and financial performance are interconnected and give us the competitive edge -- even though certain environment investments will take longer to recoup than other kinds of investment," concludes CEO Jorgen Tang-Jensen.

To document its progress in the climate area, from now on VELUX will publish global CO2 accounts for the VELUX Group. The 2008 accounts are expected to be published on the company's home page in late March 2009.