Strategy and carbon roadmap

Strategy and carbon roadmap

In December 2020, Fortum updated the strategy for the whole Fortum Group: to drive the clean energy transition and deliver sustainable financial performance. Aligned with the goals of the Paris Agreement, Fortum targets carbon neutrality by 2050 with ambitious mid-term targets.

Transformation of our own operations to carbon neutral

Fortum aims to drive the clean energy transition and focuses on reducing CO2 emissions from its own operations. We have committed to the carbon neutral (Scope 1, 2, and 3 greenhouse gas, GHG, emissions) target globally, aligned with the goals of the Paris Agreement, by 2050 at the latest. The chart presents Fortum’s coal-fired power generation capacity and our commitment to carbon neutrality in European generation by 2035 at the latest.

Carbon roadmap

Decarbonising society

The energy transition and the transition to carbon neutrality rely on clean power and gas (e.g. hydrogen). Fortum’s strategy is designed so that Fortum will be successful in a decarbonised society.

Fossil-fuelled generation will be replaced with CO2-free power generation. Fortum aims to build 1.5–2 GW of new renewable electricity capacity by 2025, primarily in Europe. The new energy system requires new flexible energy sources to balance fluctuations, including, e.g., batteries and other storage facilities, as stable fossil-fuelled power generation is replaced with intermittent renewable energy sources, such as wind and solar power.

The infographic below describes the increasingly diverse and gradually changing energy system.

Transition to low carbon energy system

With our strategy we drive the change for a cleaner world

Case: Hydrogen – an innovative solution for decarbonising hard-to-electrify sectors