Capital alignment with climate goals: Since the entry into force of the EU Climate Delegated Act, 99% of Ørsted’s capital expenditures (CAPEX) have been allocated to activities classified as sustainable. For 2024, these expenditures include DKK 37,867 million for the deployment of offshore and onshore wind capacity, DKK 6,097 million for the deployment of solar PV and energy storage technologies, and DKK 2,836 million for hydrogen, carbon capture and storage, and bioenergy activities.

We have demonstrated the ability to adapt our strategy and business model to address climate change by aligning projects and their associated financing with the EU taxonomy for sustainable activities. This approach ensures that financing is directed toward sustainable initiatives, supporting the transition to a low-carbon economy while maintaining access to affordable financing.

Additionally, we work closely with key stakeholders to support this alignment, reinforcing our capacity to redeploy resources and decommission assets effectively as part of our long-term strategy. We remain dedicated to a robust understanding of climate-related risks. To support this, we plan to re-run the full climate risk assessment for our asset portfolio in 2025, incorporating updated methodologies. This approach ensures our climate-related risk management practices remain thorough, efficient, and aligned with the observed level of risk.

While we are committed to driving a just transition to renewables, we recognise that various factors, including macroeconomic conditions and technological advancements, influence the pace of progress. To mitigate these risks and capitalise on opportunities, we advocate for political support and initiatives that foster stable macroeconomic conditions, ensuring the continued deployment of renewable energy.