Fortum's climate strategy among the best in the world Fortum is honoured as one of the best utilities in the world for its approach to climate change disclosure in a report, which was released today in New York by the Carbon Disclosure Project (CDP), a coalition of over 385 global investors with more than $57 trillion in assets. The CDP report is a survey of the responses of “Financial Times 500” corporations on the issue of climate change. In the report, Fortum is included for the second consecutive time in the “Climate Disclosure Leadership Index”, a prestigious honour roll for global corporations addressing the challenges of climate change. CDLI is comprised of 67 FT500 companies that show distinction in their reporting of greenhouse gas emissions and management of climate change strategies. Fortum scores 74 out of 100 whereas the average CDLI score for leaders in the carbon intensive industry overall was 73 points. Fortum is the only Nordic power and heat company on the list. "Climate change is a major challenge of our time, largely affecting the future of our industry. A listing on the CDLI is a great honour for Fortum and recognition of our strong track record in climate change mitigation. We are already now one of the lowest-emitting power producers in Europe - and aim to maintain that position. We want to be an enabler of a low carbon society, says Fortum's President and CEO Mikael Lilius. Climate change mitigation has been a major driver in the company strategy. Fortum has set strict targets for its CO2 emissions. In electricity production, the target is to decrease the specific CO2 emission level in the EU to less than 80 g/kWh by 2020 as a five-year average. In heat production, Fortum's aim is to reduce the specific emissions in each EU-country by at least 10% from 2006 until 2020. Paul Dickinson, Chief Executive of the CDP, commented: “Good corporate governance in respect of climate change disclosure will inevitably reap its rewards. As carbon regulation increases, those companies that have implemented climate change related strategies are clearly going to be in a far better position to meet the challenge of higher carbon prices than companies that have procrastinated. Good disclosure practices are synonymous with good management.” The Carbon Disclosure Project is an independent not-for-profit organization. CDP collects key climate change data from more than 1,550 major corporations around the globe and has assembled the largest corporate greenhouse gas emissions database in the world. Fortum Corporation Corporate Communications Further information: www.cdproject.net www.fortum.com/sustainability Kari Kankaanpää, Manager, Climate Affairs Tel. +358 10 45 32330 kari.t.kankaanpaa@fortum.com
Press release
Fortum's climate strategy among the best in the world
22 September 2008, 17:35 EEST
Fortum Corporation Press Release 22.9.2008