Climate
Greenhouse gases accelerate global climate change. Nearly three-quarters of today’s global emissions are energy-related. Energy plays a crucial role in the fight to mitigate climate change. Decarbonising both the energy sector itself as well as the electrification of energy intensive industries and societies are fundamental steps in the clean transition. By delivering on our climate targets and by providing reliable energy to industries and society, Fortum not only responds to the pressing call for climate action but also actively contributes to the future clean transition.
SBTi-verified near- and long-term climate targets
Fortum commits to:
- Reach net-zero GHG emissions across the value chain by 2040.
Intensity-based targets for own power and heat production and for sold electricity
- Reduce Scope 1 and 2 GHG emissions by 85% per MWh by 2030 and by 90% per MWh by 2040 from a 2023 base year*.
- Reduce Scope 1 and 3 GHG emissions from fuel- and energy-related activities covering all sold electricity by 69% per MWh by 2030 and by 94% per MWh by 2040 from a 2023 base year*.
*The SBTi target boundary includes land-related emissions and removals from bioenergy feedstocks.
Absolute targets for gas and heat sales
- Reduce absolute Scope 3 GHG emissions from the use of sold products for sold fossil fuels by 55% by 2033 and by 90% by 2040 from a 2023 base year.
- Reduce absolute Scope 3 GHG emissions from fuel- and energy-related activities by 90% by 2040 from a 2023 base year.
In 2024, 99% of Fortum’s power generation was from renewable or nuclear sources, with one of the lowest specific CO₂,-emissions in Europe.
We continue to decarbonise our operations that still create emissions, supported by a credible transition plan towards net zero with concrete goals and steps – with a net-zero target by 2040 and coal exit in our own operations by the end of 2027.
Transition plan for climate change mitigation
Fortum’s transition plan defines actions and resources towards net-zero targets and is anchored with the overall business strategy and the strategic priorities: deliver reliable clean energy, drive decarbonisation of industries, and transform and develop.
Own operations and coal exit
The main lever for reducing Scope 1 GHG emissions is to phase out coal in heat and power production.
- In Finland, Fortum is committed to exit coal in the Meri-Pori coal power plant and replace coal in heat production with renewable or nuclear-based electricity, waste heat utilisation, heat pumps, and electric boilers.
- In Poland, coal will be replaced by biofuels and electric boilers.
Additionally, Fortum plans to increase low-carbon power generation capacity, including new wind and solar plants, and modernising existing nuclear and hydropower plants.
Scope 2 emissions will be reduced by purchasing renewable or nuclear-based electricity for own use.
Value chain GHG emissions
Scope 3 emissions will be reduced through supply-chain decarbonisation. For upstream emissions, GHG emission reductions will be achieved by increasing renewable and nuclear-based electricity in the product portfolio, particularly in Norway and Poland. Downstream emissions will be reduced by integrating more biogas, especially for enterprise customers.
To achieve the net-zero target for Scope 3 emissions, Fortum will also reduce GHG emissions from external heat delivered to customers by transitioning to biomass and utilising waste heat, heat pumps, heat storages and electric boilers.
Our specific CO2 emissions
Fortum delivers its climate promise by taking concrete steps towards net-zero emissions
Electrification of district heating operations in Finland and switching from coal to biomass in Poland are the main ways we plan to reduce our Scope 1 emissions. Increasing renewable and nuclear-based electricity in the product portfolio, particularly in Norway and Poland and integrating more biogas especially for enterprise customers, are the main ways we plan to reduce our Scope 3 emissions.
Our actions
Fortum advances its coal exit with EUR 85 million investment in decarbonisation of Zabrze plant in Poland
The Zabrze combined heat and power (CHP) plant’s retrofit with biomass and refuse-derived fuel (RDF) technology will decrease Fortum’s annual direct fossil CO2 emissions by approximately 280,000 tonnes.
We work to find solutions to support our customers' decarbonisation journey and smarter energy use
Decarbonisation of energy intensive industries is a fundamental next step towards the clean transition. With our low-carbon power generation, such as nuclear, hydro and wind power Fortum is providing energy and solutions for customers to reach their climate goals and support smarter use of energy.
We do our part in supporting societies in reaching the common climate goals
Fortum operates, develops, and invests in low-carbon renewable and nuclear power, as well as district heating and cooling, contributing to societies' net-zero pathway. The SBTi aligned climate target is in line with the EU goals to reduce net greenhouse gas emissions by at least 55% by 2030 and to become the first climate-neutral continent by 2050.
Our actions
Just transition
Fortum aims to make the journey towards our net zero target in a just manner, seeking to understand and consider the impacts on employees, consumers, and local communities.
To address and mitigate potential negative impacts, we engage in active dialogue with local communities and seek to partner with local contractors and establish community funds where possible to enhance positive impacts. We also continue to develop supply chain sustainability and provide customers with tools and information needed to manage price volatility impacts.