Once a carbon-intensive company, Ørsted transitioned to renewables faster than any other major energy company. The company put sustainability at the core of its strategy as it became the global leader in offshore wind and is committed to a green transformation that benefits both nature and people.
Building green energy and doing it right
Ørsted is the world’s largest developer of offshore wind, currently operating the world’s largest portfolio of 8.9 GW. The company is building renewables across three continents; solar, onshore wind, offshore wind, and Power-to-X projects are under construction and will provide access to green energy, benefiting businesses, private homes, and nature.
In 2023, Ørsted opened an Isle of Man office, located in Athol Street, Douglas, that will serve as the hub for the company’s further development of the Mooir Vannin offshore wind farm, with further consultation on the project expected later this year.
Ørsted has 12 operational offshore wind farms in the UK, providing more than 5.5GW of renewable electricity for the UK. This includes six offshore wind farm projects located in the Irish Sea between the UK and the Isle of Man. It’s newest array, Hornsea 2 off the coast of Yorkshire, is the world’s largest offshore wind farm and makes a significant contribution to Ørsted’s global ambition of installing 30 GW offshore wind by 2030.
Specifically related to the Corporate Knights ranking, Ørsted’s sustainable revenue share increased from 66 % to 73 % in 2022, and our sustainable share of CAPEX remained high at 99 %, reflecting that we direct all our investments to renewable energy projects. Our industry-leading decarbonisation efforts and transition to renewable energy were recognised, reflecting that Ørsted has reduced its scope 1-2 emissions by 87 % from 2006 to 2022 and is on track to completely phase out coal this year. We launched our climate advocacy report in 2023 to walk the talk and help build best practices and transparency on climate-related advocacy. Also, the increased ethnic and gender diversity in our top management was reflected positively in the ranking.
About the Global 100 index
The Corporate Knights Global 100 index is an annual ranking of the world’s 100 most sustainable corporations. These companies represent the top 1 % in the world on corporate sustainability performance. The ranking is cross-sectoral, including the industrial, financial, IT, consumer, and healthcare sectors.
To determine the 2024 ranking, Corporate Knights has analysed 6,733 companies against global industry peers on a suite of up to 25 quantitative key performance indicators, weighted to reflect each industry’s impact profile.