Ørsted, recently ranked the most sustainable company in the world, says it will become carbon neutral by 2025. This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonisation targets for limiting global warming to 1.5°C.

Additionally, Ørsted sets a target of achieving a carbon neutral footprint by 2040.

By becoming carbon neutral by 2025, Ørsted will be the first major energy company to reach net-zero emissions in its operations and energy generation.

Henrik Poulsen, CEO of the company, stated that the firm has come very far in reducing its emissions and it is more than two decades ahead of what is required by science to limit global warming to 1.5°C.

“We’ve now decided to take an additional step by making Ørsted a carbon-neutral company already by 2025. Halting climate change requires action at all levels of society, and we need that action now. Especially within production and use of energy which account for 73 percent of all global emissions.”

According to the Danish company, the most important levers are the installation of 20GW of offshore and onshore wind by 2025, supported by a commitment to invest DKK 200 billion in green energy, and a complete phase-out of coal by 2023.

Ørsted believes this will allow the reduction of its emissions by at least 98% by 2025, while the remaining emissions come from a variety of sources that are harder to abate.

Maritime Business World