Norwegian finance group Storebrand has published its global report on the most responsible companies in the electricity utilities sector in 2006. Among the 44 companies evaluated, 13 fulfilled the 'Best in Class' criteria of the Storebrand funds. In the overall assessment, Fortum scored highest.
Storebrand's 'Best in Class' report especially acknowledged Fortum's environmentally sound power generation structure. All of Fortum's major power plants are equipped with technologies to reduce SO2 and NOx and particulate emissions, and more than 95 percent of the company's operations are certified according to ISO 14001. Fortum's goal is to reach full certification in the coming years.
Fortum's CO2 free generation has increased from 29 to 49 TWh over the past six years. Even with over 90 percent CO2 free power production in 2005, Fortum is active in reducing air emissions and strives to increase CO2 free power generation also in the future. Furthermore, Fortum uses renewable energy whenever it is technologically and economically feasible.
Over the last few years, Fortum has also made large investments in air pollution control, dam safety and radioactive waste management. Although Fortum's operations are located in countries where human rights violations are rare, the company clearly addresses human rights in its Sustainable Development Policy.
Storebrand gives the 'Best in Class' recognition as a sign of social qualification to companies it has found in its analyses to be investment targets that best bear their environmental and social responsibility. The recipients qualify as Storebrand's SRI investment targets. Storebrand is a pioneer in the assessment of corporate responsibility of investment targets and one of the leading SRI-investment companies in the world.
In addition to the recognition from Storebrand, Fortum secured its position on the global Dow Jones Sustainability Index also this year among only three Finland-based corporations. Fortum is the only Nordic power and heat company on the DJSI World.
Hannu Härkönen, EHS Manager, +358 10 452 4162