Orsted
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 d
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- Provide a qualitative assessment of the potential locked-in greenhouse gas (GHG) emissions from your company's key assets and products. Explain whether and how these emissions could jeopardize the achievement of your GHG emission reduction targets and contribute to transition risk. Additionally, if applicable, describe your company's plans to manage its GHG-intensive and energy-intensive assets and products.
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Question Id: E1-1_07
We recognise the importance of tackling the impacts of our legacy business, as locked-in emissions pose a significant transition challenge if left unaddressed. To guide progress toward our net-zero goals, we have set an absolute emissions reduction target for scope 3 emissions from gas sales, aiming to reduce emissions by ~67% by 2030 (baseline 2018) and by ~90% by 2040. To mitigate potential risks associated with locked-in emissions, we focus on measurable performance and avoiding additional locked-in emissions by not entering into new gas sourcing agreements that would contribute to additional locked-in emissions.
Report Date: 4Q2024Relevance: 85%
- Provide detailed information on the type of adaptation solutions implemented by your company in response to climate change policies, as specified under Disclosure Requirements E1-3. Indicate whether these solutions are nature-based, engineering, or technological. Additionally, clarify if the anticipated financial effects from material physical and transition risks, as well as potential climate-related opportunities, are quantified, ensuring compliance with the qualitative characteristics outlined in ESRS 1 Appendix B.
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Question Id: E1-3_02
In 2024, we have continued to advance our portfolio of nature-based carbon removal projects by planting approximately 40 million propagules in the Gambia, equivalent to around 4,000 hectares, thereby contributing further to the restoration of vital ecosystems and mitigating climate change. The project is in partnership with the Gambia Department of Parks & Wildlife Management and three local NGOs to restore mangrove populations. To ensure carbon credits contribute meaningfully to climate action, they must meet additionality, i.e. that the project would not occur without financial support, and permanence, i.e. that the mangroves remain intact. We actively support the Gambia project with a dedicated team and financial backing. Though resource-intensive and time-consuming as mangroves mature, this approach ensures project integrity.
Report Date: 4Q2024Relevance: 85%