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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.