Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

DONG Energy Is ‘No Longer Who’ It Was


New responsibilities, new mission, and a transformative journey get a new name at DONG Energy.

Dailycsr.com – 24 October 2017 – The DONG Energy is donning a new identity under the new name of Ørsted, as part of “a profound strategic transformation” leading towards “green energy”, and continues to boost its “vision for a green future”.
In the words of the Board of Director’s 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, Henrik Poulsen adds:
“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 journey of green transformation, over the last ten years, DONG Energy abandoned the identity of a “coal and oil” based Energy Company and shaped itself into a global renewable energy leader. There has been a considerable amount of increment in the company’s earnings which has been counter balanced by the reduction of coal usage in “its power stations”, while the company built “new offshore wind farms”. As mentioned in the Ethical Performance:
“Since 2006, carbon emissions have been reduced by 52%, and by 2023, they will have been reduced by 96% compared to 2006”.
Poulsen stated further:
“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.”