Products Services Investor Media Careers About Sustainability From Cost to Value We no longer live in an age where net-zero carbon solutions can be achieved simply through economic growth and sustainable policies that give rise to clean industries. To make a real difference, we need to shift political focus from cost to value. Policymakers must make decisions based on system value to realistically measure the impact of policies by taking into consideration not just the cost of energy, but also the broader impacts, encompassing emissions, water footprint, air quality and human health, job creation, energy access and resilience. Adopting the System Value Approach gives us a more holistic evaluation of the economic, environmental, social and technical outcomes of policies and investments decisions. Studies undertaken by WEF’s Electricity Industry Action Group, proves that an acceleration of a Sustainable Energy Transition can really pay off by delivering a higher net benefit than continuing on our current path. Read more Cost focus is not enough To get serious about mitigating the climate crisis and to render societies more resilient to future challenges, we cannot afford to base decisions on imminent costs. It is now more important than ever to consider the broader impacts of our decisions on society and planet – monetary or not. Embrace value Opting for renewables entails a higher upfront investment and will require grid upgrades. However, wind is free and abundant, while fossil fuel prices vary. Renewables displace carbon emissions, air pollution, and reduce water consumption. Netting positive and negative impacts out – a sustainable energy transition has a higher societal return on investment than business-as-usual. Invest to maximize societal return IRENA estimates that a renewable-based Clean Energy Transition will grow employment by 14% and add 2.5% to global GDP compared to current plans. Furthermore, every dollar spent delivers a societal return of three to seven dollars in fuel savings, elimination of fossil fuel subsidies and drastically reduced health and environmental damage. Source: Irena, Transforming the energy system, 2019 Vestas Wind Systems A/S Hedeager 42 8200 Aarhus N, Denmark +45 97 30 00 00 Company reg. no. 10403782 Contact us CONTACT Find Vestas The IR team Press Office PRODUCTS EnVentus™ platform 4 MW platform 2 MW platform Offshore solutions Services ABOUT Who we are Our values Report to EthicsLine NEWS Media overview Discover all blogs Social Media Current share price 223.80 -0.71% November 26, 2021, 17:09 GMT+1 See financial report ©Vestas 2021 All rights reserved Privacy Policy Site Disclaimer Wind. It means the world to us.™