While world leaders are gathered in Brazil for COP30, Ørsted is marking a milestone. The company has reduced its CO2 emissions by 98 percent, becoming the first energy company in the world to reach its science-based climate target for 2025, the energy company said in a press release.
The reduction target was set in 2017 and has been approved by the Science Based Targets initiative (SBTi), which assesses companies' climate targets in relation to the latest climate science. The reduction covers Ørsted's direct emissions from its own facilities and energy consumption – the so-called scope 1 and 2 emissions.
Ørsted has reduced its CO2 intensity from scope 1 and 2 emissions by more than 98 percent since 2006, and renewable energy now accounts for 99 percent of energy production. Ørsted has thus gone from being one of Europe's most CO2-intensive energy companies to a global player in offshore wind.
- Reducing CO2 emissions is a matter of great concern to Ørsted. We were founded on a promise to deliver green, cost-effective and secure energy to governments around the world, and over the past few years we have built 18.5 GW of renewable energy. At the same time, we have been working to achieve our own green transition. With a share of renewable energy of 99 percent and a CO2 reduction of 98 percent in line with climate research, we are satisfied that Ørsted has now completed its green transition in its own operations, says Ingrid Reumert, Senior Vice President and Director of Communications and Sustainability at Ørsted.
Ørsted has achieved the reduction through the expansion of offshore wind and other renewable energy sources, the closure of coal-fired CHP plants, conversion to biomass and the divestment of oil and gas activities. In addition, the vehicle fleet has been electrified, and electricity consumption is covered with green certificates.
The next step for Ørsted will be to reduce indirect emissions from the value chain, known as scope 3, so that the company can reach its goal of net-zero emissions by 2040. Towards 2040, Ørsted, in collaboration with partners, will continue to work to reduce emissions across the entire value chain to reach its SBTi-validated goal of net-zero emissions.
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