Dong Energy, the $154 billion fossil-fuel company, is abandoning all fossil fuels and changing its name to Ørsted, to honor the discoverer of electromagnetism.
Dong once stood for Danish Oil and Natural Gas. On Feb. 2, the company announced it will stop all use of coal by 2023. On Sep. 29, Dong sold all its oil and gas business. On Oct. 2, the company called for an extraordinary general meeting to ask for approval of the change of name. “This is no longer who we are,” said Thomas Thune Andersen, chairman of Dong’s board of directors. “Now is the right time to change our name.”
“Our vision is a world that runs entirely on green energy. Climate change is one of the most serious challenges facing the world today, and to avoid causing serious harm to the global ecosystems, we need to fundamentally change the way we power the world by switching from black to green energy,” Andersen said.