Power of COP for co-operation, co-creation and action

The Climate Group

No man is an island, and no single stakeholder group – citizens, businesses, policy makers, cities and countries to name but a few – can tackle the climate crisis alone. But together we can, and we must, because we are far from where we need to be to limit the rise in global temperatures to 1.5°C above pre-industrial levels, and to limit greenhouse gas emissions to net zero – between 2050 and 2100.

So, let’s use the momentum of COP28 – where many of us are physically together in Dubai – to solidify our framework for action by partnering up, sharing knowledge, committing to targets and actions, and working together throughout our value chains. If we do so, we will succeed, and with that unleash a multitude of benefits for our society at large.

Crank up ambition and action

There are many elements to a successful climate strategy, but part of the core is improving our building stock. The buildings sector accounts for around 37% [i] of total greenhouse gas emission, more than any other sector. In the EU, it also accounts for around 40% of energy consumption.

So, the impetus to crank up regulatory ambition and industry action on decarbonising our building stock is there. And so is the goal, and a pathway to achieve it. The International Energy Agency (IEA) roadmap for Net Zero Emissions by 2050 sets a clear vision for sustainable buildings across their entire lifecycle. The intermediate target is to make all new buildings zero carbon ready in operation by 2030 and to reduce embedded carbon in materials by a minimum of 40% in 2030.

What we need now is to execute. Doing so will require a total rethink of how and when we build and renovate today – which materials we use, and which partners we work with to generate uptake.

Aligning with the most ambitious to drive change

That’s the journey we are on as the VELUX Group. This is a game, not for the one, or the few, but for the many: co-operating and co-creating across our value chain to find the right solutions and implement them. Our ambitions are high – we want to lead the green transition in the built environment. To do so, we’re aligning with the most ambitious. Our science-based targets have been validated by SBTi to limit global warming to 1.5°C. Our commitments extend beyond scopes 1 and 2 (reduce by 100% by 2030) and scope 3 (by 2030, 50% reduction) to also include biodiversity[ii] and to reduce and remove historical emissions. We are members of various programmes that help drive this agenda, including RE100.

On all our commitments, but especially those on scope 3, we work closely with our suppliers. In partnerships, we test until we come up with the right solutions. In one partnership, we aim to achieve as low as

Shared paths going forward

Our sustainable future must necessarily be built on and with lower carbon – that goes for both the overall manufacturing processes and the raw materials used. To properly unleash that market, governments at all levels play a vital role, both as regulators and as buyers – and a close public-private partnership will help forge the best conditions for a swift energy transition.

COP is the global platform where stakeholders across all nationalities and backgrounds come together to discuss and agree on what’s next when it comes to climate policy. That’s enormously valuable and powerful, and why we at VELUX are sponsoring the Under2 Coalition General Assembly at COP28 – to share our journey, learn from that of others, and together, come up with more shared paths going forward.

[i]Source UN Global Building Alliance 2022)

[ii]By 2030, we want to have improved biodiversity at VELUX Group sites and actively work with suppliers to reduce negative impact on biodiversity to protect and restore nature.

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