 Sustainable Business Transformation: A Renewable Energy ExampleUwe G. Schulte A chapter in Sustainable Business, 2024, pp 61-75 from Springer Abstract: Abstract This discussion explores Ørsted’s transformation from an oil-heavy energy company to a leader in renewable energy, focusing on the insights of Filip Engel, former VP of Sustainability, Public Affairs, and Branding. Engel, who supported Ørsted’s transition (formerly Dong Energy), emphasizes the critical drivers behind this change: the rising climate agenda and the liberalization of European energy markets. He highlights how initial scepticism, particularly about the viability and profitability of renewable energy, was overcome by strategic communication and reorganization. Ørsted’s goal to invert its energy mix from 85% fossil fuels to 85% green energy was met ahead of schedule, underscoring a successful business model shift driven by sustainability and long-term vision. Engel also discusses the future capacity of renewable energy in Europe, the necessity for gradual industry ramp-up, and the coexistence of green energy expansion with other sectors. This case exemplifies how a proactive approach to sustainability can align business strategy with environmental imperatives, paving the way for industry-wide transformation. Date: 2024 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-58596-8_4 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-58596-8_4 Access Statistics for this chapter More chapters in CSR, Sustainability, Ethics & Governance from Springer |
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