Sustainability lies at the heart of our strategy. With the updated strategy, we are driving the change for a cleaner world and we wish to engage our customers and society to join this journey.
How we act responsibly
The entire energy sector is undergoing a transformation and Fortum is an integral part of this change. The faster pace of climate change is accelerating the need for structural changes in society.
Sustainability is at the core of Fortum’s strategy. Together with Uniper, we are now the third largest producer of CO2-free electricity in Europe and a significant gas company. We have the scale, competence and resources to grow further and drive the energy transition towards a carbon-neutral economy. To be successful, the transition must balance sustainability, affordability and security of supply. This requires renewables, but also increasingly clean hydrogen, energy storage, and other flexible solutions. As greenhouse gas emissions need to be reduced in all sectors, not just in energy, we provide clean energy and sustainable solutions for our industrial and infrastructure customers.
In addition to climate and resources, we pay close attention to the impacts of our operations on our personnel and the society around us. After the outbreak of the Covid-19 pandemic, our top priority has been to maintain business continuity and to secure the health and safety of our own and contractors’ employees.
We want to excel in sustainability. Our sustainability targets affect every Fortum employee.
We defined our sustainability priorities together with our stakeholders. In 2019, we conducted a broad analysis of material sustainability themes for Fortum and its stakeholders. As a result of Uniper consolidation, we reassessed our priorities in 2020. The material themes are associated with risks and opportunities for Fortum, and on the other hand, our operations have an impact on them. Our sustainability priorities are presented in the table below.
|Climate and resources||Personnel and society|
|Climate change and GHG emissions||Employee wellbeing, health and safety|
|Emissions to air, land and water||Business ethics and compliance|
|Energy efficiency||Corporate governance|
|Security of supply||Labour rights|
|Water use||Human rights|
|Biodiversity||Diversity and equal opportunity|
|Circular economy||Innovation and digitalisation|
|Economic value creation|
|Customer rights and satisfaction|
Global Compact reporting
Fortum has been a participant of the United Nations Global Compact initiative since 2010. In our 2020 Sustainability report, we describe the realisation of the Ten Principles of the Global Compact initiative in our operations in the sections Climate and resources, Personnel and society, and Business ethics and compliance. We use the GRI Sustainability Reporting Standards disclosures to measure compliance with the principles of human rights, labour standards, the environment, and anti-corruption.
Caring for Climate reporting
We joined the UN Caring for Climate initiative in 2013. We meet the reporting requirements of the Caring for Climate initiative by annually participating in the assessment in the CDP Climate Change questionnaire and by publishing our response on the CDP website.