The engineering company is aiming to reach 100 percent sustainable revenue with new green projects in three to five years.

Denmark-based international engineering company COWI has announced it will turn down all fossil fuel engineering projects, promising to have 100 percent of its revenue derived from projects driving forward sustainability within five years’ time.

“This is one of the strongest statements in COWI history with the decision not to take on any projects which are accommodating the exploration of fossil fuels,” says Lars-Peter Søbye, Group CEO.

“From now on, we are accepting the role as one of the frontrunners worldwide within our line of business.”

In 2021, fossil fuel projects made up around five percent of the company’s turnover, and around 45 percent of the revenue came from projects that are currently not directly related to the green transition. But this is expected to change.

“With a new strategy comes new priorities as well as new opportunities,” added Mr. Søbye. “The world will still need roads and airports, and we will be helping our customers in these areas, but we must and will deliver solutions that make the world more sustainable.

“This is by far one of the boldest decisions we have made during my 30 years at COWI. But it’s the right thing to do, if we seriously want to tackle the climate crisis, and this shows how we put actions behind words.

“Sustainability is at the heart of COWI’s DNA, our new vision and our upcoming strategy.

“We need to be ready to seize green projects and support our customers in the green transition.”

COWI will honour its current fossil fuel contracts, but effective from now, the company will no longer participate in tenders for new fossil fuel projects.