Corporate governance

Well-defined and transparent corporate governance provides a structure for responsible, value-oriented performance and supervisory functions of the company. Corporate governance is an imperative that works for the benefit of Fortum's shareholders, financial markets, business partners, employees and the public. The Board of Directors and the President and CEO's responsibility for the administration and management of the company is regulated in the Finnish Companies Act, which the Finnish Corporate Governance Code supplements.

Corporate governance at Fortum is based on Finnish laws and the company’s Articles of Association. Fortum fully complies with the Finnish Corporate Governance Code. 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 Board of Directors.

Fortum Corporation has been listed on Nasdaq Helsinki stock exchange since 1998. Fortum’s industrial sector according to the Global Industry Classification Standard is Electric Utilities. The State of Finland through the Ownership Steering Department of the Prime Minister’s Office of the Finnish Government is the majority owner in Fortum with a total of 51.26% of the shares as on 31 December 2023.

Fortum prepares the 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 applicable Financial Supervisory 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, EU Taxonomy Regulation, and the opinions and guidelines of the Finnish Accounting Board. The consolidated financial statements are also published in accordance with the European Single Electronic Format (ESEF) reporting requirement. The company’s external auditor, Deloitte Oy, has provided an independent auditor’s reasonable assurance report on Fortum’s ESEF financial statements in accordance with ISAE 3000 (Revised). The auditor’s report covers the consolidated financial statements and the parent company financial statements.

The Finnish Corporate Governance Code is available on the website of the Securities Market Association at 

Corporate governance

Fortum's Corporate Governance Statements

Check out the Corporate Governance Statements

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