Orsted
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 i
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- Has the transition plan for climate change mitigation been approved by the administrative, management, and supervisory bodies?
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Question Id: E1-1_14
Governance and oversight of the transition plan: Matters related to the transition plan are addressed within our sustainability governance framework. The elements of our transition plan are fully disclosed in our annual report, which is presented to shareholders for approval at the annual general meeting (AGM), providing them with an opportunity to offer feedback.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of whether and how your organization has established GHG emissions reduction targets or any other relevant targets to manage significant climate-related impacts, risks, and opportunities. This includes, but is not limited to, initiatives such as renewable energy deployment, energy efficiency improvements, climate change adaptation strategies, and measures for mitigating physical or transition risks.
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Question Id: E1-4_01
In 2021, the organization became the first energy company to set a science-based net-zero target covering scope 1-3 emissions by 2040. Since then, measurable progress has been made, and the organization remains on track to meet the near-term scope 1-2 emissions intensity target. A portfolio of new near-term targets for 2030 was developed, using the same KPIs as the 2040 targets. In 2024, the Science Based Targets initiative (SBTi) validated the interim 2030 targets. The SBTi's target validation team classified the ambition of these targets across scopes 1-3 as aligned with a 1.5 °C trajectory, reflecting alignment with the most ambitious goal of the Paris Agreement. The portfolio of climate targets outlines a clear pathway to reducing emissions across the value chain, including a cap on emissions from natural gas sales. Additionally, the organization is dedicated to advancing the global shift toward renewable energy, aiming for a 99% share of renewable energy generation in 2025 and reaching an installed renewable capacity of 22 GW by 2026.
Report Date: 4Q2024Relevance: 95%