Ørsted has delivered on its industry-leading decarbonisation target, transforming from one of Europe’s most fossil-fuel-intensive utilities to a market leader in offshore wind. Renewable energy now accounts for 99 % of the company’s energy production, while its scope 1 and 2 emissions intensity has been reduced by more than 98 % compared to 2006. As Ørsted will meet its 2025 target, it will become the world’s first energy company to complete a green transformation from fossil fuels to renewable energy.
“Decarbonisation is at the heart of Ørsted. We were founded on a promise to deliver green, affordable, and secure energy to governments around the world, and over the past years, we’ve built 18,5 GW of green energy. In parallel, we’ve delivered on our own green transformation. With a 99 % renewable energy share and 98 % emissions reduction in line with science, we’re pleased to share that Ørsted’s green transformation is effectively complete,” says Ingrid Reumert, Senior Vice President for Global Stakeholder Relations at Ørsted.
“As the past ten years are the warmest on record, emissions reductions societies are more important than ever. We’ll continue to build out offshore wind in our core markets and will take the next steps in our decarbonisation journey with a focus on reducing our upstream and downstream carbon emissions towards 2040,” says Reumert.
Ørsted has reached this major milestone on its net-zero journey through a combination of several levers: deploying offshore wind power and other renewable energy sources, closing coal-fired combined heat and power plants and converting the remaining plants to certified sustainable biomass, divesting oil and gas activities, electrifying the vehicle fleet, and covering its own electricity consumption with renewable electricity certificates.
Going forward, Ørsted will collaborate with partners and continue to systematically drive down its emissions across the full value chain (scopes 1-3) towards its science-based 2040 net-zero target. A net-zero road map has been established, including efforts to decarbonise remaining emissions from e.g. steel, copper, and maritime fuels.
Accelerated climate commitment needed at COP30Ørsted’s decarbonisation landmark comes at a pivotal moment, as COP30 kicks off in Brazil and the world struggles to meet the climate targets set out in the Paris Agreement.
“This COP is about action. Rapid electrification through renewables is key to meeting climate targets. But in order to scale technologies such as offshore wind, governments need to provide predictability, attractive frameworks and certainty. In return, industry can unlock the investments needed to meet governments’ climate targets and help shape a clean, secure and affordable energy future,” says Reumert.