Strategies to Reduce Fossil Fuel Dependency

From coal to clean energy—Ørsted’s surprising shift… Their transformation could inspire your own business to take action on climate change: Climate change is a pressing issue that businesses worldwide are addressing with powerful actions. But how are companies actually leading this change? Let’s look at Ørsted, once one of Europe’s most coal-intensive energy companies. Today, it’s transformed into a global leader in renewable energy. How? By turning its focus to offshore wind farms, solar energy, and investing in green tech. Ørsted’s story proves that any business—no matter its size or sector—can pivot for the planet. Here are some impactful steps Ørsted took to become an example in climate action: 1. Phase Out Fossil Fuels: Ørsted made a decisive shift from fossil fuels, targeting full coal phase-out by 2023 and investing heavily in wind and solar power. This aggressive approach helped Ørsted cut carbon emissions by over 80% since 2006. 2. Innovate in Green Technology: Investing in offshore wind farms, Ørsted is leading the charge in wind energy, helping countries reduce reliance on traditional power sources. The company now produces enough green energy to power millions of homes annually. 3. Commit to Science-Based Targets: Ørsted sets ambitious, science-backed targets for emission reduction. Through these measures, it aims to be net-zero by 2040, showing that big goals drive significant change. The Impact? Ørsted is now ranked one of the world’s most sustainable companies. Its journey highlights how action and accountability can change a business’s environmental footprint—and inspire others to follow. For any business looking to make a difference, Ørsted’s journey is a reminder. It’s never too late to pivot, adapt, and commit to climate action. If Ørsted can do it, what’s stopping other companies? With purpose and impact, Mario

If your business isn’t prepared to disrupt itself for our planet, the planet will disrupt your business. At a UNGA Goals House panel, industry leaders didn’t mince words. They laid out bold, transformative strategies for businesses that want to survive and thrive in the era of climate action. Sharing key takeaways herein: 1. A unified approach to financial and non-financial data: This aims to normalize carbon accounting, making it as central to decision-making as revenue or costs. Imagine if every business prioritized emissions and nature/biodiversity data the way they prioritize profit. 2. Big Tech as Energy Producers: Major tech companies are some of the world’s largest energy consumers, especially with the growth of AI and quantum computing. But what if they became leaders in the renewable energy transition? With their purchasing power, these tech giants have the potential to not just consume clean energy but to drive investment in it. This could be a tipping point for clean energy on a global scale. 3. Embedding Sustainability in Culture + Incentives: Some organizations are making it clear—sustainability must be woven into the fabric of an entire company; it’s about aligning incentives, from leadership to frontline employees, with emissions reduction and climate goals. When sustainability is tied to performance and compensation, it moves from a “nice to have” to a business-critical priority. 4. Transforming (Not Just Improving) Supply Chains: One company highlighted the need to stop thinking about incremental improvements and start reimagining supply chains entirely. True climate action might mean disrupting long-standing relationships or processes, but it’s this willingness to drive systemic transformation that’s necessary for real progress. 5. Regulation vs. Transformation: Regulations are powerful, but transformation plays an essential role in creating long term value. The insight shared was balancing the power of markets and transformation with the need for regulatory frameworks to drive widespread adoption. This was notably one of the most provocative debates in the room. 6. Tackling the “Too Big to Solve” Mindset: It’s easy to feel overwhelmed by the scale of climate challenges, but the panelists were optimistic. Their message? Even the biggest sustainability problems can be solved with ambition, innovation, and collaboration. From decarbonizing heavy industry to reshaping supply chains, the key is to break these challenges into actionable steps and leverage the power of digital technologies to make progress. Businesses need to think bigger, act faster, and integrate sustainability at every level. How is your organization addressing these challenges? Let’s connect and share strategies on how we can drive meaningful, systemic change together. #Sustainability #SupplyChain #Innovation

What if our path to energy decarbonization and global energy dominance didn’t rely on more rules, more penalties, and more government overreach, but instead on competition, transparency, and financial reward? In my latest white paper, we outline a compelling case that when paired with behavioral economics, capitalist principles offer a faster and more effective route to environmental progress than punitive regulation ever could. The fossil fuel industry is not opposed to decarbonization—it’s opposed to shortsighted policy that ignores economic reality. We argue that U.S. climate and energy policy must shift from wielding a blunt regulatory sword to offering strategic, results-driven carrots that reward leadership, performance, and innovation. Key Insights from the Report: 1. Behavioral Economics is the Missing Link Drawing on the works of Nobel Prize-winning behavioral psychologists, we emphasize concepts such as gain framing, present bias, and social proof to structure policies that empower, not punish, producers in their efforts to reduce emissions. Humans respond more predictably to rewards than to coercion. 2. Financial Incentives Drive Faster Results Top-down mandates often stall innovation and inflate compliance costs. Instead, our report outlines seven specific incentive structures that can accelerate emissions management and expand economic output without sacrificing financial return. 3. Competition Beats Compliance A performance-based ecosystem that rewards verified emissions reductions with tangible benefits, including lower taxes, expanded market access, and regulatory safe harbors, encourages companies to compete for climate leadership, rather than comply with bare-minimum mandates. 4. Voluntary Certification Can Become the New Standard We advocate for a DOE- or EPA-backed “Methane Gold Standard” that publicly ranks emissions performance, provides tax relief, and builds investor confidence. Coupled with a federal carbon credit registry and recognized well-plugging methodology, this could create a dynamic and credible marketplace for decarbonization. 5. Capitalism Is Not the Enemy of Climate Progress The United States has historically achieved prosperity through innovation, competition, and smart incentives, rather than through overregulation. By embracing economic realism and the proven efficacy of behavioral insights, we can achieve environmental and financial objectives simultaneously. We look forward to discussing this piece with you! #EnergyPolicy #BehavioralEconomics #Decarbonization #Methane #ClimateIncentives #OilAndGas #Sustainability #CarbonCredits #PickeringEnergyPartners Pickering Energy Partners PetroNoia Upright Digital