The energy sector accounts for more than two-thirds of global greenhouse-gas emissions, the International Energy Agency estimates. To limit the influence of climate change, big energy companies need to change their operations.
last year, shows that the energy sector can change in a way that's both profitable and relatively fast.When Ørsted started in 1972, it went by a different name: Dansk Naturgas. The company was established by the Danish government, which wanted to find a solution to Denmark's reliance on imported oil. Dansk Naturgas began extracting oil and natural gas in the North Sea. Production boomed.In the mid-2000s, renewable power started to become part of the conversation.
In 2009, DONG Energy announced its"85/15" vision: It wanted to convert its portfolio from 85% fossil fuels to 85% renewables by 2040. "We were able to bring people from our oil-and-gas business in," he said, including staff with knowledge of marine engineering, geoengineering, and electrical engineering.In 2017, DONG Energy sold the exploration and extraction side of its oil-and-gas business and renamed itself once again, this time after Danish physicist Hans Chrisitan Ørsted. Sykes said the company chose to sell the fossil-fuel assets because"we needed to make a decisive shift.
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