We took the strategic decision to become a green energy company, as we were convinced it was the right approach strategically, financially, and environmentally.
To drive our transformation, we invested heavily in renewable energy, particularly offshore wind; exited our fossil fuel businesses; and formulated our vision of creating a world that runs entirely on green energy. Today, we’re among the largest renewable energy companies by capacity globally and the leading offshore wind company. Financial performance significantly improved whilst we reduced our carbon emissions. Becoming a green energy company has facilitated the globalisation of our business.
This paper shares our insights on how we transformed as a company. In the first half we describe our transformation from fossil fuels to renewables. In the second half we offer what we consider our most important learnings about how to execute such a green business transformation, which may be helpful for those companies, in any sector, considering or already undertaking such a journey. The seven learnings give our take on the leadership approach that is required to carry out an accelerated transformation to a more sustainable business model. Because we believe profitability and sustainability are not in competition, but go hand in hand.