Ørsted named the most sustainable energy company in the world

By Grimsby Telegraph | Posted: 22 Jan 2019

Ørsted is the most sustainable energy company in the world according to a new ranking.

The global leader in offshore wind, and Grimsby's biggest inward investor in the burgeoning sector, is also the fourth best across all industries, surpassing more than 7,500 international, billion-dollar companies.

Analysis features in Corporate Knights' 2019 index of the Global 100 Most Sustainable Corporations in the World.

Unsurprisingly, it performs particularly well in the ranking because a high share of the company's revenue is earned from products or services that have environmental or well-defined social benefits.

Henrik Poulsen, chief executive of Ørsted, said: "Climate change is one of the defining challenges of our time. We must dramatically accelerate the transformation of the world's energy systems from fossil fuels to renewables to help protect our planet for future generations.

"At Ørsted, we have reduced our carbon emissions from our energy production by 67 per cent over the past decade towards our vision of a world that runs entirely on green energy. Being ranked among the world's most sustainable companies makes us both humble and proud, and encourages us to pursue our global investments in sustainable energy."

MORE: Ørsted to address Grimsby Prenewables Partnership 2019 Conference

Over the past decade, Ørsted - formerly Dong Energy - has transformed from a coal and gas intensive utility to a global green energy company, and it is well on track to meet its target of more than 95 per cent green energy by 2023. The substantial progress in Ørsted's ambitious decarbonisation programme is reflected in the company's leap to a fourth place in the 2019 Global 100 index, ranking 70th in 2018.

Matthew Wright, UK managing director of Ørsted, said: "The UK, with the world’s largest offshore wind operation, is leading the way when it comes to developing a green energy system to combat the profound global challenge of climate change.

“Being ranked as the world’s most sustainable power company is an achievement to be hugely proud of, and now we must renew our mission to build a clean and affordable energy future.”

Ørsted recently announced ambitious new targets towards 2025, including:

  • Increasing its share of renewable energy generation to 99 per cent by 2025 (up from 64 per cent in 2017)
  • Installing 15GW offshore wind by 2025 - enough to power 32 million people
  • Investing DKK 200bn (around USD 30bn) in renewable energy towards 2025

Ørsted will announce its full-year financial and sustainability results for 2018 at the end of the month, as in the Humber region it continues the build out of Hornsea Project One, onshore work begins for Hornsea Project Two and development of the October-announced Race Bank Extension progresses, while Lincs, Westermost Rough and Race Bank are all operated from the £10 million East Coast Hub.

Canada-based Corporate Knights analysed more than 7,500 companies, mainly from the industrials, financial IT, consumer and health care sectors, against their global industry peers.

The top 100 come from 21 countries, mainly in North America and Western Europe.

Corporate Knights says Global 100 companies tend to last longer and perform better than comparison companies in the MSCI All Country World Index.

MORE: Grimsby's path to 8GW of installed offshore wind energy capacity

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