DONG Energy Supports World Bank’s Campaign ‘Putting a price on Carbon’

In connection with the World Bank’s campaign ‘Putting a price on Carbon’, DONG Energy has signed a statement together with more than 1000 companies stipulating that putting a price on CO2 emission at a global level is needed.

According to Jakob Askou Bøss, Vice President in DONG Energy, a price on CO2 emission at a global level can help to promote investments in renewable energy:

“To ensure that investments in the energy industry are directed towards low carbon solutions to reduce the impact of climate change, the costs of investments have to reflect not only the immediate costs to companies of choosing one technology over another, but also the long-term costs to society. The price on carbon must provide an incentive to invest in low carbon solutions.”

The latest report from the United Nations Intergovernmental Panel on Climate Change also emphasises that an important initiative to limit the global temperature increase of two degrees is to put a price on CO2 emission globally.

DONG Energy has a clear target of converting its energy production and reducing its CO2 emission from the electricity and heat production by 60% in 2020 compared to 2006. Consequently, the company is making ambitious investments in offshore wind farms and conversions of power stations to enable them to fire with sustainable biomass instead of coal and gas.

Bøss continued: “DONG Energy is already hard at work on the conversion of its energy production to a higher degree of green and renewable energy. In 2020, 15 million Europeans will receive clean electricity from offshore wind farms built by DONG Energy. During the same period, we will convert 50% of our Danish power stations to use sustainable biomass as fuel and make Danish power stations’ electricity and heat production one of the world’s greenest.” 

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