HRH The Prince of Wales has, through his Sustainable Markets Initiative (SMI), launched the Terra Carta Seal, which recognizes private-sector companies who are leading their peers in creating genuinely sustainable markets. Denmark-headed energy utility Ørsted A/S is one of 45 companies that have been awarded the Terra Carta Seal. Designed by Sir Jony Ive, the Terra Carta Seal embodies the vision and ambition of the Terra Carta, a recovery plan for nature, people, and the planet.
The 2021 inaugural Terra Carta Seal recognizes global corporations that are demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. It is being awarded to firms who have aligned themselves with the Terra Carta, which was launched by HRH The Prince of Wales at the One Planet Summit in January 2021.
The Terra Carta provides a practical road map for acceleration towards an ambitious and sustainable future; one that will harness the power of Nature combined with the transformative power, innovation, and resources of the private sector.
The Terra Carta Seal will be awarded annually to companies who are demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets and care for nature, people, and the planet, driving innovation and leadership within their industry, and who have credible transition roadmaps underpinned by globally recognized, scientific metrics for achieving net-zero by 2050 or sooner.
Rapid turnaround for Ørsted
Over the last decade, Ørsted has transitioned from being one of the most fossil-fuel intensive utilities in Europe to being ranked the most sustainable energy company in the world. Now, as the global leader in offshore wind, the company is working towards its vision to create a world that runs entirely on green energy.
We’re delighted to be among the first recipients of the Terra Carta Seal, which we see as both an achievement and an ongoing commitment. Climate change is no longer a challenge of technology or finance – it’s a question of leadership commitment from governments as well as corporates. We welcome the Terra Carta Seal and its purpose of motivating future-proof decisions by corporate leaders which are consistent with a 1.5 °C future, said Mads Nipper, CEO and Group President of Ørsted.
HRH The Prince of Wales was deeply encouraged by Ørsted’s commitment to reducing its scope 1 and 2 greenhouse gas (GHG) emissions by 98 percent per kWh by 2025 (from a 2006 base year), reducing its scope 3 emissions by 50 percent by 2032 (from a 2018 base year), and achieving net-zero GHG/CO2e emissions across its value chain by 2040.
The Terra Carta Seal acknowledges that each industry faces unique challenges in its transition to a sustainable future and that they are all at different stages of their journey. Here, all industries and all companies must be supported as they take steps in a more positive direction.
Climate change is the single greatest long-term threat facing society, and we must accelerate efforts to fight against it. As a company whose vision is to create a world that runs entirely on green energy, we know that net-zero is achievable. Having made the transition from one of the most carbon-intensive energy companies in Europe to the global leader in offshore wind, we understand the challenges posed by the transition to net-zero and want to inspire real action to help create a cleaner and more sustainable home for us all. We believe renewable energy holds the key to a cleaner future, and the planet needs to act now to reduce the effects of climate change, said Duncan Clark, Head of Region UK at Ørsted.
Partner with Corporate Knights
The Sustainable Markets Initiative (SMI), a network of global CEOs and private-sector corporations working together to build prosperous and sustainable economies and which was launched by HRH The Prince of Wales in Davos in January 2020, has partnered with Corporate Knights for this initiative.
Corporate Knights’ Global 100 most sustainable corporations were invited to apply for the inaugural Terra Carta Seal together with active task force members of the SMI as of January 1, 2021.
Working closely with HRH The Prince of Wales, Sir Jony Ive and his creative team at LoveFrom have created a physical and animated seal engineered with paper that is both simple and beautifully crafted.
The design combines a host of natural references, including oak leaves, fern, magnolia, and honeybees, and intricate patterns both in nature and in the arts, creating a visual celebration that reflects the power of and reverence for nature that is at the heart of the Terra Carta.
With respect for both the historic resonance of the Terra Carta and for the environment, we have used modest, natural materials and celebrated craftsmanship with a delicate, illustrated design. This feels a sensitive and sincere commemoration for those who have committed to the aims of the Terra Carta, and we are so very grateful to be able to contribute to such an important and impactful initiative, said Sir Jony Ive.