Ørsted receives HRH The Prince of Wales’ Terra Carta Seal in recognition of the company’s commitment to creating a sustainable future
Ørsted has been awarded the Terra Carta Seal. The inaugural 2021 Terra Carta Seal recognises global companies which are driving innovation and demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. The seal is awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for nature, people, and planet launched in January 2021.
Over the last decade, Ørsted has transitioned from being one of the most fossil-fuel intensive utilities in Europe to being ranked the most sustainable energy company in the world. Now, as the global leader in offshore wind, the company is working towards its vision to create a world that runs entirely on green energy.
HRH The Prince of Wales was deeply encouraged by Ørsted’s commitment to reducing its scope 1 and 2 greenhouse gas (GHG) emissions by 98 % per kWh by 2025 (from a 2006 base year), reducing its scope 3 emissions by 50 % by 2032 (from a 2018 base year), and achieving net-zero GHG/CO2e emissions across its value chain by 2040.
His Royal Highness The Prince of Wales said: “The Terra Carta Seal recognises those organisations which have made a serious commitment to a future that is much more sustainable, and puts nature, people, and the planet at the heart of the economy. We all need to make changes if we are to preserve the planet for our children and grandchildren, and these businesses have pledged to make it easier for us all to do so.”
The Terra Carta Seal acknowledges that each industry faces unique challenges in its transition to a sustainable future and that they are all at different stages of their journey. Here, all industries and all companies must be supported as they take steps in a more positive direction. At the same time, an accelerated pace is required if we are to achieve a 1.5 °C target, restore biodiversity, and benefit the lives and livelihoods of current and future generations.
The Terra Carta Seal has been awarded to companies who hold a leadership position within their industry and who have credible transition road maps underpinned by globally recognised scientific metrics for achieving net-zero by 2050 or earlier.
Mads Nipper, CEO and Group President of Ørsted, said: “We’re delighted to be among the first recipients of the Terra Carta Seal, which we see as both an achievement and an ongoing commitment. Climate change is no longer a challenge of technology or finance – it’s a question of leadership commitment from governments as well as corporates. We welcome the Terra Carta Seal and its purpose of motivating future-proof decisions by corporate leaders which are consistent with a 1.5 °C future.”
Duncan Clark, Head of Region UK at Ørsted, said: “Climate change is the single greatest long-term threat facing society, and we must accelerate efforts to fight against it. As a company whose vision is to create a world that runs entirely on green energy, we know that net-zero is achievable.Having made the transition from one of the most carbon-intensive energy companies in Europe to the global leader in offshore wind, we understand the challenges posed by the transition to net-zero and want to inspire real action to help create a cleaner and more sustainable home for us all.We believe renewable energy holds the key to a cleaner future, and the planet needs to act now to reduce the effects of climate change.”
Working closely with HRH The Prince of Wales, Sir Jony Ive and his creative team at LoveFrom have created a physical and animated seal engineered with paper that is both simple and beautifully crafted. The design combines a host of natural references, including oak leaves, fern, magnolia, and honeybees, and intricate patterns both in nature and in the arts, creating a visual celebration which reflects the power of and reverence for nature that is at the heart of the Terra Carta.
“With respect for both the historic resonance of the Terra Carta and for the environment, we have used modest, natural materials and celebrated craftsmanship with a delicate, illustrated design,” said Sir Jony Ive. “This feels a sensitive and sincere commemoration for those who have committed to the aims of the Terra Carta, and we are so very grateful to be able to contribute to such an important and impactful initiative.”
About the Terra Carta Seal
The 2021 inaugural Terra Carta Seal recognises global corporations that are demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. It is being awarded to firms who have aligned themselves with the Terra Carta, who are driving innovation and leadership within their industry and who have credible transition roadmaps underpinned by globally recognised, scientific metrics for achieving net-zero by 2050 or sooner.
The SMI has partnered with Corporate Knights for this initiative. Corporate Knights’ Global 100 most sustainable corporations were invited to apply for the inaugural Terra Carta Seal together with active task force members of the SMI as of 1 January 2021.
The Terra Carta Seal will be awarded annually to companies who are demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets and care for nature, people and planet.
About the Sustainable Markets Initiative
His Royal Highness The Prince of Wales launched the Sustainable Markets Initiative (SMI) in Davos in January 2020. The SMI is a network of global CEOs and private-sector corporations working together to build prosperous and sustainable economies that generate long-term value through the balanced integration of natural, social, human, and financial capital.
The SMI facilitates the development of responsible transition pathways at industry and business levels to decarbonise and achieve net-zero, create a nature-positive future, and support a transition towards a sustainable future.
HRH is appealing to public, private, and philanthropic leaders around the world to join this endeavour as part of the ‘Coalition of the Willing’. Read more here: www.sustainable-markets.org
About the Terra Carta
Launched by His Royal Highness at the One Planet Summit in January 2021, the Terra Carta provides a practical road map for acceleration towards an ambitious and sustainable future; one that will harness the power of Nature combined with the transformative power, innovation, and resources of the private sector. The Terra Carta serves as the mandate for the Sustainable Markets Initiative. Currently, there are over 400 named supporters of the Terra Carta – listed on the SMI website.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2021 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,672 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group's revenue was DKK 52.6 billion (EUR 7.1 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.