Over the period of nine months, Nordic Sustainability supported the Viessmann Group (+14,5k employees, 4 bn EUR revenue) with a Future-Fit baseline assessment and a co-creative sustainability strategy process.
The family-owned provider of heating and cooling solutions has now embarked on an ambitious path towards becoming a fully circular business, while working to eliminate any negative harm on their global supply chain – besides its existing focus on becoming a net zero business and value chain.
Viessmann has shifted its product portfolio towards low-carbon solutions due to Europe’s transition away from fossil fuels and launched a decarbonization strategy called LEAP. However, they realised they also needed a comprehensive sustainability strategy across ESG dimensions to secure the future of the company, increase resilience, and comply with tightening regulations. The task was to guide the organisation in creating a holistic sustainability strategy with long-term goals and short-term actionable project roadmaps.
Subject matter experts
Our approach to the baseline assessment roots in our deep expertise with the Future-Fit Business Benchmark. Nordic Sustainability analysed Viessmann’s negative and positive impact on the 23 Break-Even Goals and 24 Positive Pursuits defined by Future-Fit. This involved a comprehensive data gathering phase, stakeholder engagement and onboarding, qualitative analysis and quantitative scoring of key insights. Additionally, we assessed Viessmann’s data management and sustainability governance throughout the baseline assessment.
Functions across business areas
Wrapping up the baseline assessment, Future-Fit’s Break-Even Goals were screened for materiality. While recommending a dedicated strategic focus on few high-priority Break-Even Goals, the remaining topics were clustered to facilitate and inform rapid improvements within functional responsibilities. Ultimately, several different dashboards were translated into a high-level change narrative supporting executive management conversations leading towards the strategy co-creation phase.
Nordic Sustainability began the strategy phase by developing initial recommendations for material impacts areas based on absolute reductions of negative and scaling of positive impacts. 42+ stakeholders were onboarded and their feedback was incorporated into the strategy. A core group of key stakeholders then further matured the strategy, including creating short-term project roadmaps for the next 2-3 years, which involved estimating the FTE, CAPEX, and OPEX needs. This exercise resulted in high stakeholder engagement and prepared the company for a smooth transition to strategy execution.
Viessmann recognizes our two-pronged approach to stakeholder engagement as a key success factor across both phases. Simultaneously keeping senior management informed and involved while building skills and capacity with functional subject matter experts de-risked the project and fostered collaboration, ownership and operational readiness.
As a result of our work with Viessmann, the company embarked on an ambitious transformation towards becoming a fully circular business with a zero-harm supply chain – besides its existing focus on becoming a net zero business and value chain. In addition, all other areas of negative and positive impact have been assessed in-depth, laying the foundation for progress within functions and regions.
I could not have wished for a better partner for this project. We worked seamlessly as one Viessmann-Nordic-Team and co-created a highly ambitious sustainability strategy.