Vestas boss hails Paris agreement as a major step in the right direction

Not so much in the short term, but wind giant sees long-term benefits of COP21 deal

Morten Dyrholm, the vice president of public affairs at Vestas, has said the historic climate agreement adopted at the COP21 climate summit in Paris will have a positive effect on the company’s markets in the long term.

“The agreement that was signed in Paris is a big step in the right direction,” said Dyrholm. “It will contribute to the momentum that wind energy and other sustainable energy solutions have built up over the past few years and thereby strengthen the existing foundation for sustainable investment.”

New rules, new possiblities
Dyrholm believes that sections of the agreement – including the national climate plans, increased transparency and mandatory updates every five years instead of ten years – will create the stability and confidence necessary to ensure long-term progress.

“It is our opinion that the agreement in the long run will contribute positively to Vestas, wind power and other forms of sustainable solutions,” said Dyrholm. “But the agreement will not be reflected in our business in the short term.”

READ MORE: Danish companies hoping for ambitious climate agreement

Investors also reacted positively to the announcement of the climate agreement, pushing Vestas’s shares to the top of the Danish C20 cap index thanks to an increase of 2.8 percent.