Orsted
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 b
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- Provide a detailed account of the decarbonisation levers identified and the key actions planned within your transition plan for climate change mitigation. This should include references to your GHG emission reduction targets and climate change mitigation actions, as specified in Disclosure Requirements E1-4 and E1-3. Additionally, elucidate any changes anticipated in your product and service portfolio, as well as the adoption of new technologies within your operations or across the upstream and/or downstream value chain.
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Question Id: E1-1_03
Ørsted's transition plan includes key decarbonisation levers and identifies strategic actions that have driven the transformation of the business model towards renewable energy. The plan supports broader policy priorities, including the European Union’s 2050 climate neutrality goals. Ørsted targets reductions in scope 1 and 2 GHG emissions. In 2024, they closed Esbjerg Power Station, their last coal-fired CHP plant, advancing decarbonisation efforts. They aim for a 93% reduction in scope 1 and 2 GHG emissions intensity by 2025 and progress towards a 96% reduction by 2030. The interim scope 1-3 GHG emissions intensity target outlines a reduction trajectory of ~77% by 2030. Ørsted is also focusing on renewable energy capacity growth and the phase-out of coal, with a target to meet their 2025 target of a 99% share of energy generation coming from renewables.
Report Date: 4Q2024Relevance: 85%
- Has the undertaking established GHG emission reduction targets that are science-based and aligned with the objective of limiting global warming to 1.5°C? Specify the framework and methodology utilized to determine these targets, including whether they follow a sectoral decarbonisation pathway. Detail the underlying climate and policy scenarios, and confirm if the targets have undergone external assurance. Additionally, provide a concise explanation of how future developments, such as changes in sales volumes, shifts in customer preferences and demand, regulatory factors, and new technologies, have been considered in setting these targets and their potential impact on both GHG emissions and emissions reductions.
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Question Id: E1-4_22
In 2021, we became the first energy company to set a science-based net-zero target covering scope 1-3 emissions by 2040. Since then, we have made measurable progress and remain on track to meet our near-term scope 1-2 emissions intensity target. 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.
Report Date: 4Q2024Relevance: 80%