The Sustainability Approach defines Group-level goals guiding operations and the key indicators used to monitor them, as well as other indicators monitored and reported on at the Group level. The previous Sustainability Approach was approved in 2008.
The Sustainability goals are part of the annual business planning process. The divisions’ business plans outline the division-specific measures needed to achieve sustainability goals. One of our targets is to bring environmental-, occupational health- and safety-related issues in Russia closer to the level of our European operations.
Our sustainability approach was renewed in 2010. The central areas of our Sustainability Approach, the Group’s goals and the indicators used to monitor them are:
Economic responsibility
We want to achieve excellent financial performance in the strategy’s core areas based on our strong know-how and responsible ways of operating. We believe that competitiveness, performance excellence and market-driven production create value and growth over the long term.
We regularly report the direct and indirect economic impacts targeting our biggest stakeholder groups.
Fortum’s target is to further develop key indicators used to measure sustainability performance related to e.g. the amount of new CO2-free capacity, energy efficiency investments and the efficiency of R&D activities.
The development and continuous improvement of our responsible operations are measured by various sustainability indexes. Our goal is to be included on the Dow Jones Sustainability Indexes (World and Europe) and to continuously improve our performance in them.
Social responsibility
We believe that our innovations and the security of supply of low-emissions power and heat enable the development of societies and the propagation of well-being. Operating as a good corporate citizen and taking care of our own personnel and the communities around us are the key areas of our social responsibility. We promote work environment well-being and safety, respect for individuals and mutual trust, and responsible operations in society.
Social responsibility key indicator and goal:
We monitor the number of sickness-related absences and our goal is to decrease sickness absences in the long term by monitoring, investigating and eliminating the causes of sickness related absences. Eventually, the target is to define additional indicators related also to personnel well-being and supply chain management.
We monitor Fortum’s financial contribution to charitable purposes.
Environmental responsibility
Our strategy is based on strong know-how in CO2-free hydro and nuclear power production and energy-efficient combined heat and power production, and in eco-friendly electricity and heat solutions enabled by our research and development activities. Fortum's long-term aspiration is to be a CO2-free power and heat company.
Fortum's Sustainability Targets
Additionally, in 2009 a comprehensive EHS action plan (Environment, Health and Safety plan) was compiled for OAO Fortum’s operations in Russia. The implementation of the EHS action plan continued in 2011.