Corporate Governance Statement
Fortum Corporation's shares (FORTUM) have been listed on Nasdaq Helsinki since 18 December 1998. Fortum's industrial sector, according to the Global Industry Classification Standard, is Electric Utilities. The State of Finland is the majority owner in Fortum with 50.76% of the shares as at 31 December 2019.
Corporate governance at Fortum is based on Finnish laws and the company’s Articles of Association. Fortum complies fully with and has prepared this corporate governance statement in accordance with the Finnish Corporate Governance Code 2015 and the new Code 2020 entered into force on 1 January 2020, which is available on the website of the Securities Market Association www.cgfinland.fi.
The corporate governance statement is issued separately from the Operating and Financial Review, and it has been reviewed by the Audit and Risk Committee of Fortum's Board of Directors. Fortum Corporate Governance Statement 2019
Fortum prepares consolidated financial statements and interim reports in accordance with the International Financial Reporting Standards (IFRS), as adopted by the EU, the Finnish Securities Markets Act as well as the appropriate Financial Supervision Authority’s regulations and guidelines and Nasdaq Helsinki rules. The company’s operating and financial review and the parent company financial statements are prepared in accordance with the Finnish Companies Act, Accounting Act, Securities Markets Act, and the opinions and guidelines of the Finnish Accounting Board. The auditor’s report covers the operating and financial review, consolidated financial statements and the parent company financial statements.