Orsted
Electric Utilities
Denmark
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 a
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- Provide an explanation of how your company's greenhouse gas emission reduction targets align with the objective of limiting global warming to 1.5°C, as stipulated by the Paris Agreement, in accordance with Disclosure Requirement E1-1 regarding the transition plan for climate change mitigation.
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Question Id: E1-1_02
Ørsted's transition plan outlines the company's overall pathway to achieving net-zero emissions by 2040, aligned with the 1.5 °C goal of the Paris Agreement. The plan is substantiated by science-based targets, includes key decarbonisation levers, and identifies strategic actions that have driven the transformation of our business model towards renewable energy and will continue to shape our ongoing transition.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of the methodologies, significant assumptions, and emissions factors employed in the calculation or measurement of GHG emissions, including the rationale for their selection. Additionally, include a reference or link to any calculation tools utilized in this process.
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Question Id: E1-6_15
The methodologies and emission factors used include:
- Global warming potential of greenhouse gases: CH4, N2O, SF6, as per the Intergovernmental Panel on Climate Change (IPCC): Climate Change 2021, The Physical Science Basis.
- Carbon emissions from fossil fuels at CHP plants: Cool, oil, natural gas, as per Danish Energy Agency: Standard factors for calorific value and carbon emissions, 2023.
- Carbon emissions from fossil fuels outside CHP plants: Diesel, petrol, fuel oil, jet fuel, as per American Petroleum Institute (API): Compendium of greenhouse gas emission methodologies for the natural gas and oil industry, 2021.
- Carbon emissions from power purchased in Denmark: EnerginetDK, 2023: General declaration on Miljødeklaration, 2021 (General declaration and environmental declaration, 2022).
- Carbon emissions from power purchased in other European countries: Association of Issuing Bodies (AIB): European Residual Mixes, 2023 (2022 data).
- Carbon emissions from power purchased in countries outside Europe: Institute for Global Environmental Strategies (IGES): list of grid emission factors, 2023.
- US Environmental Protection Agency (EPA): Supply Chain Greenhouse Gas Emission Factors, USD 2018.
- Purchased goods and services (category 1): Supply chain emission factors depending on product categories.
- Business travel (category 6): Assumptions: 'average car', 'unknown fuel type'.
- Fuel- and energy-related activities (category 3): Emissions from regular power sales and upstream supply chain for fuels.
- Capital goods (category 2): Wind farms, offshore. The model is based on the ISO 14040/44 life cycle assessment standard (L) and applied in the openLCA software. The modeling is conducted using the Environmental Footprint 3.0 LCIA (life cycle impact assessment) method, and the impacts of each activity/material come from the ecoinvent environmental database, version 3.8.
Report Date: 4Q2024Relevance: 85%