The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. "This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonization targets for limiting global warming to 1.5°C," said the company.
Additionally, Ørsted sets a target of achieving a carbon neutral footprint by 2040.
During the last ten years, Ørsted has transformed from a company with fossil fuels at the core of its business to a pure-play renewables company. Ørsted has gradually dismantled its traditional fossil fuel-based business and built a new business in renewable energy which is now among the biggest green energy companies in the world today.
As the leading developer of offshore wind, Ørsted has installed one third of all offshore wind turbines globally. By driving out carbon emissions from its energy generation and operations, the company has reduced its carbon emissions by 86% compared to 2006.
As announced today in its Sustainability report 2019, Ørsted now takes an additional step in its decarbonisation journey by deciding to become a carbon neutral company by 2025.
CEO of Ørsted, Henrik Poulsen, says: "We've come very far in reducing our emissions and Ørsted is more than two decades ahead of what is required by science to limit global warming to 1.5°C. We've now decided to take an additional step by making Ørsted a carbon neutral company already by 2025. Halting climate change requires action at all levels of society, and we need that action now. Especially within production and use of energy which account for 73% of all global emissions."
He continues: "We've transformed from producing energy based on fossil fuels to producing carbon neutral energy. We've seen a real strengthening of our business and shown that a rapid green turnaround is possible. A decade ago, we were one of Europe's most coal-intensive utilities, and by 2025, we'll be carbon neutral."
By becoming carbon neutral by 2025, Ørsted will be the first major energy company to reach net-zero emissions in its operations and energy generation.
"Our change from black to green energy has not been easy but it's been necessary. I hope that our transformation inspires countries and businesses to take more radical actions than they might think possible. There really is no time to lose if the world is to halve emissions by 2030 and stay below 1.5°C of warming."