Reporting principles

This is the seventh annual CSR report published by the VELUX Group.

The purpose of our CSR report is to provide stakeholders with a transparent, fair and balanced view of how the VELUX Group works with Corporate Social Responsibility and Sustainability to fulfil our objective to be a Model Company.

The VELUX Group compiled the company’s CSR report 2017 using the Global Reporting Initiative (GRI), Sustainability Reporting Guideline as methodology.

Governance

Corporate Social Responsibility is governed by the VELUX Management Group.

We have identified the economic, environmental and social issues that are of importance to the assessment and decisions of our stakeholders and where we, as a business, have significant influence throughout the value chain: upstream in our supply chain, at our suppliers and our own operations; and downstream in the supply chain, through our products and how we act in the market.

Collecting and processing data

The data is collected annually according to a fixed reporting procedure. Data was compiled for the calendar year 2017 as end-of-year data except for brand and satisfaction tracking, which was compiled during the year.

Product quality:

The data on warranty service in the first three years was collected and processed by the VELUX Group’s quality function.

Fair competition:

Data on anti-corruption e-learning comes from completed registrations in the e-learning software. Anti-competitive behaviour (Annual Declaration) is based on the number of general managers who signed the declaration. The declarations were collected by Legal Affairs in early 2018, declaring no breaches to competition law had occurred during the year.

People development and diversity:

The data was collected and processed by the VELUX Group’s HR function. The term senior managers is used for general managers in sales and production companies, for employees referring directly to the VELUX Management Group and for other selected key employees. Employee numbers are defined as head count and calculated at end of year.

Our performance results from the Global Employee Survey are compared to the external benchmark: Ennova’s Global Employee and Leadership Index survey. www.ennova.com

We compare gender diversity to the external benchmark from the Confederation of Danish Industry’s analysis of women in senior management and boards.

Employee Foundation:

The data was collected and processed by the Employee Foundation. The figures are based on financial registrations also used in the annual report of the foundation, and hence subject to financial audits.

Safe and healthy workplace:

The health and safety data in the report was collected, compiled and validated by the VELUX Group’s HS&E function.

Climate and energy:

The environmental data in the report was collected, compiled and validated by the VELUX Group’s HS&E function.

Waste and environment:

The environmental data in the report was collected, compiled and validated by the VELUX Group’s HS&E function.

Sustainable wood:

The data is from FSC and PEFC chain of custody registrations of purchased wood for the European factories. These are consolidated SAP registrations that are subject to FSC and PEFC audits. We benchmark our own performance with the global performance level evaluated by UNECE and FAO “Forest Products – Annual Market Review 2014-2015”.

Code of conduct:

The data on the number of product-related suppliers that have signed our Code of Conduct was collected, compiled and validated by the VELUX Group’s purchasing function.