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Case Study

Developing an innovative business model: Novo Nordisk and DONG energy driving the market for renewable energy in denmark

By Corey A. Billington, Tania Braga and Aileen Ionescu-Somers

9 pages

December 2009

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Reference: IMD-2-0148

The case demonstrates the potential companies have to drive innovation in order to reach ambitious CO2 reduction targets. It documents Novo Nordisk’s efforts under WWF International’s Climate Savers initiative. Climate Savers is a platform to transform business and industry into pioneers on climate and energy solutions. Novo Nordisk’s search for cost-effective solutions to reduce CO2 emissions had driven the development of a new business model which expanded the commercial basis of renewable energy in Denmark. By partnering with Dong Energy, one of the leading energy groups in Northern Europe, the healthcare company boosted the identification of energy savings in its industrial plants while contributing to financing the construction and operation of new large offshore wind farms.

Learning Objective

1) Deliver strong arguments that ambitious CO2 reduction targets trigger innovation and are therefore good for business development and growth. 2) Show a cutting-edge business model for the commercial expansion of renewable energy providers. 3) Demonstrate the potential for win-win partnerships with energy providers to fully power production sites with renewable electricity.

Keywords

Innovation, Climate Change, Renewable Energy, Wind Power Generation, Corporate Responsibility, Partnership, Corporate Sustainability Management, Sustainability

Settings

World/global
Novo Nordisk
2003-2009

Available Languages

English

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