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Disclosure

11 Nov 2022

Author:
Ørsted

Ørsted response

...Since Ørsted does not have any direct presence in Russia, our main concern from the beginning of the war in Ukraine has been to stop any economic activities with Russian entities and thus ensure that we do not indirectly support the government of Russia...

...Ørsted condemns the Russian invasion of Ukraine and has taken several steps to stop its cooperation with Russian companies. Ørsted has ceased all sourcing of biomass and coal from Russia for its power stations, Ørsted will not enter into new contracts with Russian companies, and Ørsted has made sure that none of our direct suppliers for the build-out of renewable energy are Russian. Ørsted has a contract to buy gas from Gazprom. See more info in this public statement. Ørsted has refused to comply with the demand to pay for the gas in roubles. Subsequently, Gazprom Export has halted the supply of gas to Ørsted since 1 June 2022. Ørsted has remained in close dialogue with the authorities regarding the situation...

...Our ongoing program Know Your Counterparty is our risk-based approach with which we assess our business partners by screening them and conduct further due diligence where needed against anti-bribery and -corruption, sanctions, government watch lists and adverse media to ensure compliance with our Good Business Conduct policy. We use a screening tool to conduct the initial screening which screen against current sanctions (incl. those imposed by EU, US, UN) both in relation to the company (including ultimate ownership) as well as owners and directors of the company...

Timeline