Ørsted is recognised as a leader in responsible tax practices and tax transparency. This supports our ambition to help build green energy in a way that gives back to society.
Why are responsible tax practices important?
Tax contributions are a key part of the positive social and economic impact we can make as a business. They help the local economies in which we operate to deliver valuable public services, such as healthcare, education, and transport, and build the infrastructure that allows businesses to thrive.
By being a responsible taxpayer and engaging with policymakers to support robust tax regulations, we support well-functioning societies, institutions, and regulations that are conducive to both people and business.
What are we doing?
- We are committed to paying the right amount of tax, at the right time, in the right place – in accordance with the tax laws of the countries where we operate. We seek to comply not only with the letter of the law but also with the underlying tax policy intent.
- We are transparent in our tax reporting and voluntarily report using the GRI 207 standard as a basis, which includes disclosing financial, economic, and tax-related information for each jurisdiction where we operate. We include this information in our tax footprint available here.
- To ensure the application of the GRI207 standard, we conduct a thorough self-assessment based on the guidelines provided in the GRI207 framework.
- We engage constructively in national and international dialogue with governments, business groups, and civil society to support the development of effective tax systems, legislation, and administration. The purpose of our engagement is to promote the development of future tax legislation and practice that supports the green transformation.
Latest updates
We retained the Fair Tax Mark and are the first Danish multinational company to secure consecutive accreditation to the global gold standard of responsible tax conduct.
Key information
Partnerships
We engage in partnerships to promote fair tax regulation, staying up to date on policy developments, and engaging with peers on responsible practices:
- The Danish Confederation of Enterprises’ Tax Panel, with a view to influencing tax regulations and staying up to date on tax policy developments.
- The Tax Dialogue, with a view to staying updated on tax policy developments.
- B-Team, to engage with peers on responsible tax principles and tax governance matters.
- Fair Tax Foundation, where we have been accredited for our responsible tax practices.
International frameworks
- OECD BEPS and Pillar I and Pillar II
- EU directives, e.g. ATAD, DAC6, and CbCR
- Applicable local and international tax legislation
Governance
Accountability lies with our Chief Financial Officer.
Policies
