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European Climate Pact

Overview

Location

Finland 

Sector

Electric utilities

Organisation type
Business

Company Information

Fortum's business activities cover the production and sales of electricity and heat, natural gas sales, as well as energy-sector expert services and various customer solutions. It is headquartered in Espoo, Finland. In 2021, it reported a total of 20,000 employees and 2.6 billion Euro in revenue.*

*Source

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • Fortum Oyj has a target to reduce absolute scopes 1, 2 and 3 CO2e emissions 100% by 2050 from a base year of 2019.
  • Fortum Oyj has a target to reduce absolute scope 3 CO2e emissions 35% by 2035 from a base year of 2021

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in production processes
  • Have an initiative in place to drive GHG emissions reduction through low-carbon energy generation
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

 

Governance & Strategy

North Star

  • Fortum Oyj have a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

Our actions – the Pathway

  • Have an ongoing and transparent dialogue with our value chain around climate-related issues

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022