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Our vision – and who we are
Let’s create a world that runs entirely on green energy.
Climate change is a reality, and it’s rapidly changing the conditions of life on Earth. To protect our shared home, we need to become better at powering it with green energy.
More than 80% of the world’s total energy consumption still comes from fossil fuels. The resulting pollution is harmful to our planet. We want to change that. And our vision is clear: Let’s create a world that runs entirely on green energy.
Keeping down global temperature rise
Since the Paris Agreement came into force in 2016, the international community has found common ground in its efforts to keep the global temperature rise below 1.5°C.
From fossil fuels to renewables
Despite the progress, we believe that more can be done to reduce the consequences of climate change. More than a third of the global carbon emissions stem from energy generation.
This huge figure made us do a complete rethink of our business strategy back in 2008, and that’s when we embarked on our journey of transforming from a fossil-fuelled to a renewables energy company. We increased our investments in offshore wind farms and started to convert our power stations from firing coal to using sustainable biomass as fuel. In 2017, we took the final step and divested our oil and gas business.
Global position in offshore wind
Our business counts three entities: Offshore, Onshore and Markets & Bioenergy.
We’re the world leader in offshore wind. This means that we now supply green power for more than 15 million people. Our ambition is to increase this figure to 30 million by 2025.
Our market-leading position has enabled us to reduce the costs of renewable energy, so new markets and investors can see the huge potential of offshore wind as a more profitable, efficient and sustainable alternative to fossil fuels.
The potential of wind power – also onshore
Our business also spans onshore wind power. We currently operate onshore wind farms with a total capacity of 1.3GW in the US, and we’re constructing more wind and solar projects in Texas, Nebraska, and South Dakota. Our objective is to have a total installed capacity of 5GW across onshore wind, solar PV, and energy storage by 2025 – and that’s just the beginning.
Coal consumption down by 73%
Since 2006, we’ve reduced our power stations’ coal consumption by 73%, and we’ve decided to stop using coal by 2023. Instead, we use sustainably sourced wood chips and wood pellets while continuing to convert our coal- and gas-fired power stations.
A farewell to CO2
Since 2006, we’ve more than halved our carbon emissions, and our target is a 98% reduction by 2025. Our build-out of renewable energy brings green power to millions of people and is a key focus area for our CO2 reductions.
Green energy for everyone – now and in the future
We’re committed to renewable energy, enabling people, businesses and communities to lever its potential without having to worry about causing a negative environmental impact or limiting the opportunities of future generations. Therefore, it’s also our ambition to build enough renewable energy to supply green power for 30 million people by 2025 and 55 million people by 2030.