Non-profit CPD has recognised Orsted for its actions to cut emissions, mitigate climate risks, and help develop the low-carbon economy, based on data reported in CDP’s 2021 climate change questionnaire.
This is the third “A” score in three years for Orsted.
A key contribution to Orsted’s CDP climate “A” score in 2021 was the company’s climate targets, which met CDP’s new scoring requirements and were awarded the maximum possible leadership points.
In particular, Orsted’s net zero target for 2040 as well as its 1.5°C aligned near-term science-based emissions reduction targets for 2025 and 2032 were all recognised by CDP to be “industry-leading among energy companies”.
Orsted chief executive Mads Nipper (pictured) said: “We’re delighted to once again be recognised by CDP as a company at the forefront of climate action.
“Energy companies play a crucial role in helping the world meet the Paris Agreement.
At Orsted, we’ve taken our climate action further than any other energy company, getting our 2040 net-zero target approved as science-based as the only energy company and one out of only seven companies globally.”
By reinforcing its 2040 net zero target with 1.5°C aligned long-term greenhouse gas reduction targets Orsted now has “an ambitious decarbonisation pathway”, underpinned by clear near-term and long-term emissions reduction levels towards net zero and a commitment to limit the use of offsets to neutralise maximum of 10 % emissions that cannot yet be eliminated.
This target was approved by the Science Based Targets initiative (SBTi) in October at the launch of its new Corporate Net-Zero Standard, making Orsted one of only seven companies and the only energy company in the world with a science-based net zero target.
A first milestone in Orsted’s decarbonisation journey comes in 2025, when it will become carbon-neutral in scope 1-2 through reducing emissions intensity by at least 98% from 2006.
This will make Orsted the first major energy company to reach carbon neutrality in its energy generation far ahead of science-based decarbonisation targets for limiting global warming to 1.5 °C.