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A birds-eye view of a successful transition: Ørsted A/S
A low-carbon transformation
Ørsted, a $48 billion renewable energy firm, has made a spectacular business transformation over the last decade, which is why we consider them a role model within the Energy sector. Up until 2017, the company was known as DONG (Danish Oil and Natural Gas). It later underwent a name change to reflect its transition from black to green energy generation1.DONG was formed in 2006 through the merger of six Danish energy companies, and in 2007 accounted for one-third of Danish CO2 emissions2,3. Their generation system was known as one of the dirtiest in the world, with carbon-intensive coal being the predominant resource for electricity generation. Additionally, they operated an Oil & Gas exploration business which accounted for 15% of total revenue as of 20104.
In 2009, the company initiated a campaign to be a top-to-bottom renewable energy company, formulating the 85:15 vision which aimed to reach an 85:15 ratio of green to black energy generation2. This accompanied their target of becoming carbon neutral.