Orsted has set new 2030 climate targets to enhance visibility on the actions needed to reach its science based 2040 net zero target.
The 2030 targets, which cover the full value chain emissions (scope 1-3) and align with the 1.5C pathway, have now been formally approved by the Science Based Targets initiative (SBTi).
Having already made significant progress to reduce its direct emissions (scope 1-2), the main focus of the company’s climate action going forward will be to reduce its supply chain emissions (scope 3).
Orsted is therefore working strategically with its partners to enable supply chain decarbonisation, including tackling emissions from the manufacture, installation, and operations of renewable energy assets.
Ingrid Reumert, SVP, Global Stakeholder Relations, said: “We’re pleased to have the formal SBTi validation of our updated near-term climate targets, as this assures us that Ørsted’s business model and our immediate actions to reduce emissions are aligned with climate science.
“While our targets set the direction for our decarbonisation efforts, it’s the actions that really count.
“In 2024, we partnered with Dillinger on getting first access to their lower emission steel, we took a big step together with Siemens Gamesa on blade circularity by using recycled glass fibres for the turbines at our Greater Changhua Offshore Wind Farm, and we closed our last coal-fired plant, saving the atmosphere from approx. 1.2 million tonnes of carbon dioxide emissions yearly.
“I’m proud that we – together with our partners – continue taking important steps to further bring down emissions in our supply chain.”
In line with climate science, Orsted has set an intensity target for reducing emissions in the renewable energy value chain, meaning that the company will continue to scale its build-out of renewable energy while decoupling the emission of greenhouse gasses.
Updated Orsted 2030 targets validated by SBTi are to:
Reduce scope 1 and 2 GHG emissions 96% per kWh by 2030 from a 2018 base year (to 6 gCO2e/kWh), equivalent to a 99% reduction per kWh by 2030 from a 2006 base year
Reduce scope 1, 2, and 3 GHG emissions (excl. from use of sold products) 77% per kWh by 2030 from a 2018 base year (to 75 gCO2e/kWh)
Reduce scope 1, 2, and 3 GHG emissions from “all sold electricity” 86% per kWh by 2030 from a 2018 base year
Reduce absolute scope 3 GHG emissions from the use of sold products 67% by 2030 from a 2018 base year (to 8 MtCO2e)
Reduce absolute scope 3 GHG emissions 50% by 2030 from a 2018 base year.