Fortum's climate disclosure top-class in the world Fortum is featured for the third consecutive year in the “Carbon Disclosure Leadership Index" by Carbon Disclosure Project (CDP). Transparent reporting and a systematic plan to reduce the greenhouse gas emissions - that now also covers OAO Fortum in Russia - have convinced the analysts of Fortum's efforts regarding climate change mitigation. Fortum's score in the CDP ranking improved from 74/100 in 2008 to 79/100 this year. The Carbon Disclosure Leadership Index lists the top 50 companies within the FTSE Global 500 Index, which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices. The analysis is based on the companies' responses to CDP's 2009 questionnaire that focused on greenhouse gas emissions, emissions reduction targets as well as risks and opportunities associated with climate change. In the utilities sector, the average score was 64. The US utilities PG&E Corporation and Public Service Enterprise Group ranked the highest, both scoring 88/100. Fortum is the only Nordic company in the CDLI. "It is a great honour for Fortum to receive external recognitions for our efforts on climate change mitigation. Fortum's ultimate goal is to become a CO2 free power and heat company. In Europe, Fortum has been one of the least emitting energy companies for years. We will also put a lot of effort into reaching ambitious emission reduction objectives in Russia," says Anne Brunila, Executive Vice President, Corporate Relations and Sustainability, Fortum. In 2008, 92% of Fortum's electricity production in the EU was CO2 free. The corresponding figure including Russia was 75%. Fortum's aim is to improve energy efficiency and reduce specific emissions in all operating countries. In Russia, Fortum has introduced an Environment, Health and Safety action plan. Increased energy efficiency and optimised combined heat and power production are among already started measures. In addition, replacement of coal with biomass and/or waste fuels as well as carbon capture and storage will be explored as possible further measures. Paul Dickinson, Chief Executive of the Carbon Disclosure Project, comments: “Companies recognised in the Carbon Disclosure Leadership Index are rewarded for high quality responses to CDP, which demonstrate a good understanding of how climate change is and will continue to impact their business. Companies which control their risks today, manage their emissions and seize the opportunities to produce low carbon goods and services, will be the best placed to prosper in a low carbon economy of the future.” Fortum Corporation Corporate Communications Further information: www.cdproject.net www.innovestgroup.com www.fortum.com/sustainability Kari Kankaanpää, Manager, Climate Affairs Tel. +358 10 45 32330, [email protected]
Press release
Fortum's climate disclosure top-class in the world
22 September 2009, 08:30 EEST
Fortum Corporation Press release 22 September 2009