Orsted is the world’s most sustainable energy company
Orsted is the world’s most sustainable energy company three years in a row, according to the Corporate Knights Global 100 Index. The company offers solar energy and storage, wind power and renewable hydrogen to countries and companies around the world. Formerly known as DONG Energy, the company has transformed its carbon-intensive business based on fossil fuels to a clean energy business based on renewable energy.
Before the transformation started, Orsted was one of the most coal-intensive energy companies in Europe. But the company sold off its fossil fuel assets and developed new clean energy solutions. Orsted will generate nearly 100% green energy by 2025. The business strategy is now focused entirely on renewables. One of the company’s core competencies is the developing of offshore wind projects. Due to technological innovations and large-scale deployment of offshore wind farms, the costs of green energy declined dramatically, and now offshore wind energy is in most parts of the world cheaper than newly built gas- and coal-fired plants.
In addition, Orsted is cooperating with its wholesale and supply chain to halve the cross-company carbon emissions by 2032. The company intents to generate green energy in a substantial way. This sustainable growth program includes engaging strategic suppliers to set targets for reducing their emissions.
Orsted’s share price increased 58.61% within one year.