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Orsted’s £165,000 is generous but further contributions welcome

Following the announcement that Danish renewables giant Orsted plans to contribute more than £165,000 (€189,000 / $206,624) to provide support to National Health Service (NHS) workers and local food banks in the UK;

Somik Das, Power Analyst at GlobalData, a leading data and analytics company, offers his view:

“This move by Orsted is an attempt to use some of its extra cash, following a 33% growth in operating profits in Q1, to fulfill its corporate social responsibilities. Among the countries in which Orsted operates, the UK has been hit the hardest by the pandemic.

“This gesture from Orsted is of key significance because it is having an impact on the members of the communities to which it is catering. Contributions from other giants would be a big boon for these workers. Also, organizations could get a chance to boost their performance in the field of sustainability, which would help them inch closer to their sustainable development goals (SDGs). SDGs serve as guidelines for businesses to assess and manage social, economic and environmental risk while contributing to their reputation, image and strategic position in the world’s market. It is situations like these that companies should cling to in order to achieve their SDGs.

“Orsted has established ‘enabling sustainable growth’ and maintaining ‘business integrity’ as two of its key goals under its SDGs. The company decided to make this contribution as NHS workers are the essential personnel leading the fight against the COVID-19 virus – hence their wellbeing is of critical importance. This generous support will enable authorities to enhance the provision of facilities for staff and workers fighting the COVID-19 pandemic.

“In addition, Orsted could consider repurposing its production lines to incorporate health equipment such as ventilators, personal protection equipment (PPE), and sanitizers. Many global giants such as Tesla and BYD have already repurposed their production schedules to incorporate the manufacture of such equipment – that kind of contribution would perhaps mean more at this point in time.”

By Editor

I am the Consulting Launch Editor of EntreprenuerDB.com which is one of the biggest resource banks for entrepreneurs globally.

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