We are a renewable energy company that takes tangible action to create a world that runs entirely on green energy. Our aim is to develop and deploy market leading green energy solutions that benefit the planet and our customers alike, further driving down the cost of green energy. By deploying renewable energy resources at scale, we want to revolutionise the way we power people and reduce the negative effects of climate change, which are currently one of the biggest threats facing the world.
Over the past 25 years we have established our company as a global leader in offshore wind with a 25 per cent market share. We develop, construct and operate offshore wind farms in Europe, the US and Asia, and have built enough offshore wind to power 9.5 million people. By 2025, our ambition is to power 30 million people with offshore wind. The UK is our biggest offshore wind market with eleven wind farms already operating. We have invested £8 billion building offshore wind farms in the UK and we are investing a further £4 billion by 2020. We are committed to ensuring that our presence contributes to sustainable growth and development.
A decade ago, we initiated our transformation from a black to a green energy company. Since then, we have reduced our use of coal by 73% and more than halved our CO2 emissions. We are in the process of converting our coal fired power stations in Denmark to sustainable biomass, and by 2023, we will be completely coal-free and will have reduced our CO2 emissions by 96%. In 2017, we divested our upstream oil & gas business, completing our transformation to become a leading pure play renewables company.
In January 2020, Ørsted was ranked the world’s most sustainable company by Corporate Knights’ 2020 index of the Global 100 most sustainable corporations. Ørsted becomes the first-ever energy company to top the index having completed a fundamental business transformation from fossil fuels to renewable energy.