The Danish offshore wind company's 2017 sustainability report shows it is focusing on sustainable biomass, grid stability and energy storage, and adopting a holistic approach to energy transition, reports Claire Manuel
Danish power company Dong Energy last year announced a permanent shift away from fossil fuels and a firm focus on renewables, describing it as a move from "black" to green energy. Along with this change came a new name – Danish Oil and Natural Gas became Ørsted, after Hans Christian Ørsted, the Danish scientist who discovered electromagnetism two centuries ago. Unfortunately, the new name did not sit well with Ørsted’s descendants, who in January threatened legal action.
Ørsted’s latest sustainability report explains how the company has been phasing out fossil fuels over the past decade. It has reduced coal consumption by 73% and committed to completely phase it out by 2023. Carbon emissions have halved and will have reduced by 96% by 2023. Ørsted’s transformation culminated last year in the divestment of its upstream oil and gas business, part of the reason for the name change.
2017 will be remembered as the year when newly built offshore wind became cheaper than black energy
The report also declares Ørsted’s firm commitment to the SDGs and outlines the three key pillars of its sustainability strategy: a world that runs entirely on green energy;...