Companies in Action
Orsted boosts renewable energy job market in Europe. The transition from a fossil intensive economy to a low-carbon future is poised to bring significant socio-economic opportunities for growth and job creation. Among the most fuel intensive companies in Europe a decade ago, Orsted, the largest energy company in Denmark, has shifted into alternative energy sources and new business opportunities. Driven by the need to urgently address the climate crisis, the company in 2017 started divesting from its oil and gas business. Today, the company is on a path to phase out coal by 2023 and generate nearly 100% renewable energy by 2025. Orsted estimates its offshore wind farms, both installed and under construction, will create 197,000 job years in their lifetime, employing more than 5,400 European citizens in life-long employment. In Taiwan, Orsted has established an apprenticeship program with DaYeh University to train future offshore wind operations and maintenance technicians. Orsted is also collaborating with local governments in Taiwan, working with county government, to develop local supply chains for wind turbines, creating new job opportunities in the process.
JP Morgan Chase makes global investment in the future of work. Rapid technology advances are encouraging companies across sectors to rethink and invest in educational opportunities that ensure that current and prospective employees are equipped with the skills needed to thrive in the future. To address this, JP Morgan Chase created a five-year initiative aimed at helping people develop critical skills for in-demand careers through new investments in strengthening education and training programs. The $350 million global investment launched in 2019 builds on the company’s original commitment of $250 million announced in 2013, designed to give students without college degrees access to middle skills jobs. That program helped nearly 150,000 individuals across 37 countries. JP Morgan Chase's New Skills at Work program announced in 2019 has a dual approach: expand the reach of the training to create economic opportunities and career mobility for underserved populations and identify and prepare the company's own employees for the workplace skills needed in the future. The company will work with the Massachusetts Institute of Technology’s Initiative on the Digital Economy to identify and forecast the skills of the future workforce, looking to accelerate opportunities internally to enable employees to acquire the skills required to keep up with technology advances. The company plans to share this work with peer employers and others in the industry to scale impact as they look to prepare the workforce of the future.
AT&T focuses on retraining employees to acquire the necessary skills to keep up with advancements in technology. As automation continues to gain momentum, companies are faced with the need to fill highly technical positions. Many are addressing this by retraining their workforce, providing the necessary tools to advance and adjust to evolving technologies. Through its Future Ready program, AT&T is committed to investing and training its workforce to help them acquire the skills necessary to conduct business in the next decade. The company conducted an analysis of its 250,000 person workforce and discovered that only half had the necessary skills to remain competitive in the digital economy. AT&T launched online training platforms and a career intelligence portal that lets workers see what jobs are available, the skills required for each, the potential salary range and whether that particular area is projected to grow or shrink in the years ahead. In 2019, the company noted that, out of approximately 18 million total hours of training recorded, AT&T employees spent about 2 million hours in skills transformation.