Tag: Ørsted

Ørsted sets course for ‘next zero’ – targeting emissions across the entire value chain

Stuart Mitchell

Ørsted is moving beyond its green transformation to focus on reducing emissions from how offshore wind farms are designed, built, and operated, with the ambition to reach net-zero emissions across its entire value chain by 2040. Reducing emissions in the value chain is both a climate imperative and a business necessity. It reduces exposure to fossil fuel price volatility, strengthens strategic supplier partnerships and enhances market competitiveness as evolving regulations drive higher carbon costs. In a new paper launched at London Climate Action Week, The Next Zero, Ørsted sets out…

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Ørsted will be the first energy company in the world to complete a green transformation with a 98 % reduction in carbon emissions

Stuart Mitchell

As global leaders are gathered in Brazil for COP30, Ørsted will be the first energy company in the world to reach its sector-leading and science-based 2025 decarbonisation target, having reduced its carbon emissions by 98 %. 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…

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SBTi approves Ørsted’s strengthened pathway to net-zero in 2040

Stuart Mitchell

Ørsted has set new 2030 climate targets to enhance visibility on the actions needed to reach its science based 2040 net-zero target. The 2030 targets, which cover the full value chain emissions (scope 1-3) and align with the 1.5C pathway, have now been formally approved by the Science Based Targets initiative (SBTi). Ørsted was the first energy company to set a science-based net-zero target in 2021. Since then, the company has continued its actions to deliver on its science-based climate strategy. Over a period of only 15 years Ørsted has…

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Ørsted signs agreement with Equinor for carbon removal credits

Stuart Mitchell

In a new agreement, Ørsted will sell carbon dioxide removal (CDR) credits amounting to 330,000 tonnes of CO2 to Equinor over a ten-year period. This is part of Ørsted’s CO2 capture and storage project, ‘Ørsted Kalundborg CO2 Hub’, which will capture 430,000 tonnes of biogenic CO2 annually from two of Ørsted’s biomass-fired CHP plants from 2026. The CO2 that is captured comes from sustainable biomass and will be permanently stored under the North Sea seabed. In this way, CO2 will be removed from the atmosphere and contribute to negative emissions.…

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Ørsted shuts down its last coal-fired heat and power plant

Stuart Mitchell

Ørsted is one of the largest renewable energy companies in the world and the global leader in offshore wind power. Earlier, Ørsted was one of the most coal-intensive energy companies in Europe, but since 2006, the company has reduced its coal consumption significantly through a reduction in the number of heat and power plants as well as conversions to certified sustainable biomass instead of coal. With this, the company will have shut down its last coal-fired heat and power plant, and Ørsted’s entire energy generation will be essentially fossil-free. Ole…

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