Daily CSR
Daily CSR

Daily CSR

Daily news about corporate social responsibility, ethics and sustainability


‘Switching From Black To Green Energy’ To A World Running ‘Entirely On Green Energy’



10/11/2017

A transformative strategy allows DONG Energy to “fundamentally change the way” the company powers the world.


Dailycsr.com – 11 October 2017 – The DONG Energy, a “Danish energy company”, is going to be renamed as “Ørsted”, as they continue to boost “their vision for a green future” through its “profound” strategy of transforming “from black to green energy” along with its “recent divestment of the oil and gas business”.
 
In the words of the Board of Directors’ Chairman, Thomas Thune Andersen:
“DONG was originally short for Danish Oil and Natural Gas. With our profound strategic transformation and the divestment of our upstream oil and gas business, this is no longer who we are. Therefore, now is the right time to change our name”.
“Our vision is a world that runs entirely on green energy. Climate change is one of the most serious challenges facing the world today, and to avoid causing serious harm to the global ecosystems, we need to fundamentally change the way we power the world by switching from black to green energy”.
 
While, the Chief Executive Officer of the Company, Henrik Poulsen added:
“2017 will be remembered as the year when offshore wind became cheaper than black energy, as demonstrated by the recent tenders for offshore wind in Germany and the UK. It has never been more clear that it is possible to create a world that runs entirely on green energy. The time is now right for us to change our name to demonstrate that we want to help create such a world.”
 
In the last ten years’ time, DONG Energy has changed its business of “coal and oil” to renewable energy and as of today it is “a global leader in renewable energy”, reports Ethical Performance. Moreover, it has seen a considerable increment in the earnings while it has reduced its coal usage in its “power stations and building out new offshore wind farms”.
 
From the year of 2006, DONG Energy brought down by “52%”, while the company has plans of reducing its carbon emission by “96%” by the year of 2023 in comparison to 2006’s respective figure. In fact, Henrik Poulsen also added:
“Today, we’re dedicated to green energy. Our focus going forward will be on green growth based on our existing business platforms in offshore wind, biomass, green customer solutions and advanced waste-to-energy solutions. We’ll also explore new green growth opportunities to strengthening our existing platform, if they support our vision, provide a strong competitive position and create value for our shareholders.”
 
 
 
References:
ethicalperformance.com