Offshore wind leader Ørsted is the world’s most sustainable company according to the Global 100 ranking announced today
Having completed a transformation from fossil fuels to renewables over the past decade, Ørsted urged all countries and companies to reduce their carbon emissions to help limit global warming to 1.5°C.
The global leader in offshore wind outperformed more than 7,300 global companies with billion-dollar revenues to rank number one in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world. Ørsted is the first energy company to top the index.
Ørsted chief executive Henrik Poulsen said, “We’re immensely proud to rank as the world’s most sustainable company. From our origins as a traditional fossil fuel-based energy company, we’ve transformed into one of the largest renewable energy companies in the world. Every day, we deliver green energy solutions at scale to combat climate change, the defining challenge of our time.”
Since 2006, the company has reduced carbon emissions from its energy generation and operations by 83% and will be carbon-neutral by 2025. Offshore windfarms built by Ørsted bring green power to more than 13M people. Ørsted aims to increase this number to 50M people by 2030.
The company’s ability to significantly grow its business, while substantially reducing its carbon emissions, has been central to attaining the top rank in the Global 100 index.
Offshore wind is now significantly cheaper than newly built coal- or gas-fired power plants in most parts of the world, making it a key technology in the global transition to green energy. According to the International Energy Agency, offshore wind has the potential to provide green power to hundreds of millions of people. However, almost 75% of all global greenhouse gas emissions still come from fossil-based energy, and carbon emissions continue to rise.
“While we’re grateful to be named the most sustainable company in the world, we’d prefer to see the world develop more sustainably. Global greenhouse gas emissions have been rising for decades and are now at their highest level ever. We have no time to lose if we want to halt global warming and halve global emissions by 2030 as recommended by science,” said Mr Poulsen.
He continued, “We have the necessary green technologies at hand to transform the world’s energy systems. Countries and businesses must work together and take bold steps to speed up the green transformation, reduce their emissions and limit global warming to 1.5°C. As I see it, we owe it to the current and not least future generations.”
“We are strengthening collaboration with our biggest and most important suppliers to work with them on reducing their emissions in line with science and to encourage them to run their operations on green energy,” Mr Poulsen continued. “Ørsted has become a sustainable and profitable business by making green energy deployment the keystone of our business strategy. Companies that do not take action now to decarbonise run the risk of seeing their business models come under pressure in the future. We encourage all companies to make decarbonisation a core part of their strategy.”