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European Climate Pact

Overview

Location

Denmark

Sector

Electric Utilities

Organisation type
Business

Company Information

Ørsted is an energy company which focusses on renewable energy. It is publicly listed and headquartered in Fredericia, Denmark. Ørsted's activities includes developing, constructing and operating offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen facilities, and bioenergy plants, and provide energy products. In 2021, the company reported a total of 6,836 employees and a revenue of 77.7 billion DKK .*

*Source

Our progress towards decarbonization

 

GHG Emissions

North Star

  • Ørsted commits to reach net-zero greenhouse emissions across the value chain by 2040 from the base year 2018. The target coverage includes Ørsted's full value chain emissions across scopes 1,2 and 3

Pledge: Have a long-term science-based target to reach net-zero value chain GHG emissions by no later than 2050 in line with the SBTi Net Zero Standard

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

 

GHG Emissions

North Star

  • Ørsted has a target to reduce absolute scope 3 CO2e emissions 50% by 2032 from a base year of 2018. Ørsted has a target to reduce absolute scope 3 CO2e emissions 90% by 2040 from a base year of 2018. Ørsted has a target to reduce intensity of scopes 1 and 2 CO2e emissions 97% per kWh (power and heat generated) by 2025 from a base year of 2006. Ørsted has a target to reduce intensity of scopes 1 and 2 CO2e emissions 99% per kWh (power and heat generated) by 2040 from a base year of 2006. Ørsted has a target to reduce intensity of scopes 1, 2 and 3 CO2e emissions 99% per kWh (power and heat generated) by 2040 from a base year of 2018.

Pledge: Have an officially validated short-medium term science-based GHG emissions reduction targets aligned with a 1.5°C scenario (scope 1+2) in line with the SBTi Criteria and Recommendations

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in production processes
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

 

Energy

Our actions – the Pathway

  • Have a target to increase renewable energy consumption

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

 

Water

Our actions – the Pathway

  • Have an internal price on water 
  • Have a target to reduce product water intensity
  • Publicly disclose data on water-related impact to investors through a public platform
  • Have board-level oversight of water issues
  • Regularly monitor and measure key water security metrics at least for 75% of the company's facilities

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Water 2022

 

Governance & Strategy

North Star

  • Ørsted have a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

 

Buildings

Our actions – the Pathway

  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in buildings

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

North Star

  • Ørsted has a supplier engagement target to get 63.0% of its suppliers by procurement spend to set a science-based emission reduction target

Pledge: Have a supplier engagement target in order to reduce scope 3 GHG emissions, to get a share of our suppliers by procurement spend set science-based GHG emissions reduction targets in line with the SBTi Criteria and Recommendations

MRV: Pact MRV in place

Status date: Submitted (13/07/2022)

Data source: CDP Climate Change 2022