Fortum considers climate change and biodiversity loss as the biggest sustainability challenges for mankind. We strongly support the goals of the Paris Agreement to limit the average rise in global temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit it to 1.5°C. We have set both long- and short-term climate targets and we are committed to conducting our climate policy lobbying in line with the goals of the Paris Agreement.
Increased transparency is the key
We want to be at the forefront of corporate transparency, which is also requested by institutional investors and non-governmental organisations. We are committed to the objectives of the Climate Action 100+ initiative, which has significant influence on how climate-related corporate activities will be disclosed in the future.
Our Climate Lobbying Review is a continuation of our efforts to increase transparency around our advocacy related to climate change. The 2021 review included 15 associations in which Fortum (excluding Uniper) is a member in Europe, Russia, and India. The objective of the review was to assess how aligned the industry associations are with the goals of the Paris Agreement and our key climate advocacy principles.
During 2022, we have continued to monitor and address misalignment whenever the associations’ positions differ from Fortum’s climate advocacy principles as concluded in the 2021 review. We have had dialogue with four European associations in order to encourage them to take development actions.
As part of the Climate Lobbying Review, we also sought to review our own climate lobbying positions in relation to the same climate advocacy principles set for the association reviews. Similar to the association reviews, also the review of our own positions has been conducted independently by a third-party actor.
