Ørsted, the global leader in offshore wind, surpassed more than 7,500 international, billion-dollar companies to rank fourth in the index.
According to Corporate Knights, Ørsted performs particularly well in the ranking because a high share of the company's revenues is earned from products or services that have environmental or well-defined social benefits.
Henrik Poulsen, CEO of Ørsted, said:
"Climate change is one of the defining challenges of our time. We must dramatically accelerate the transformation of the world's energy systems from fossil fuels to renewables to help protect our planet for future generations.
"At Ørsted, we have reduced our carbon emissions from our energy production by 67% over the past decade towards our vision of a world that runs entirely on green energy. Being ranked among the world's most sustainable companies makes us both humble and proud, and encourages us to pursue our global investments in sustainable energy."
Matthew Wright, UK Managing Director of Ørsted, said:
“The UK, with the world’s largest offshore wind operation, is leading the way when it comes to developing a green energy system to combat the profound global challenge of climate change.
“Being ranked as the world’s most sustainable power company is an achievement to be hugely proud of, and now we must renew our mission to build a clean and affordable energy future.”
Global build-out of renewable energy
Over the past decade, Ørsted has transformed from a coal- and gas-intensive utility to a global green energy company. The company has reduced the carbon intensity of its power and heat generation by more than two-thirds in comparison with 2006, and it is well on track to meet its target of more than 95% green energy by 2023. The substantial progress in Ørsted's ambitious decarbonisation programme is reflected in the company's leap to a fourth place in the 2019 Global 100 index, ranking 70th in 2018.
Ørsted recently announced ambitious new targets towards 2025, including:
- increasing its share of renewable energy generation to 99% by 2025 (up from 64% in 2017)
- installing 15GW offshore wind by 2025 - enough to power 32 million people
- investing DKK 200bn (around USD 30bn) in renewable energy towards 2025.
Ørsted will announce its full-year financial and sustainability results for 2018 on 31 January 2019.
About the ranking
- Toronto-based Corporate Knights analysed more than 7,500 companies, mainly from the industrials, financial IT, consumer and health care sectors, against their global industry peers.
- 2019 Global 100 companies come from 21 countries, mainly in North America and Western Europe.
- Corporate Knights says Global 100 companies tend to last longer (age of company in years) and perform better (investor returns) than comparison companies in the MSCI All Country World Index