Orsted
ESRS disclosure: ESRS E1 \ DR E1-3 \ Paragraph AR21
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- To what extent does your company's ability to implement actions related to climate change policies depend on the availability and allocation of resources? Provide an explanation in accordance with Disclosure Requirement E1-3, considering the ongoing access to finance and its impact on adjustments to supply/demand changes, acquisitions, and significant R&D investments.
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Question Id: E1-3_05
While we do not have a stand-alone climate policy, our commitment to mitigating climate change, deploying renewable energy, and promoting efficient energy systems is embedded in our sustainability commitment. Introduced in 2016, this commitment reflects a systems-based approach to addressing climate change, recognising that social and governance factors are critical to successfully delivering reliable and modern energy systems to society. This perspective is applied across our organisation and is also reflected in our ‘Code of conduct for business partners’. The sustainability commitment is overseen by the Group Executive Team. While the sustainability commitment does not outline the specific steps required to address the identified IROs, it has effectively set the direction for our first transition wave: shifting away from fossil fuels. To ensure continued alignment with our strategy and vision, we have incorporated climate-related KPIs in the remuneration framework of the Group Executive Team. In 2024, the short-term bonus programme includes metrics linked to scope 1 and 2 emissions reductions and the external climate rating from the Carbon Disclosure Project (CDP).
Report Date: 4Q2024Relevance: 50%