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Press release

President and CEO Tapio Kuula at Fortum’s Annual General Meeting: EU should set intermediate target to achieve emissions reduction

11 April 2012, 14:59 EEST

PRESS RELEASE 11 April 2012

”The EU should waste no time in setting a sufficiently ambitious intermediate target for CO2 emissions reduction on the way to the 80-95% emissions reduction target by 2050", noted President and CEO Tapio Kuula at Fortum’s Annual General Meeting on 11 April 2012.

"This would encourage the use of existing low-emissions technologies and would accelerate the adoption of new ones. And if this were done, there would no longer be a need for separate targets for renewable energy or energy efficiency. It would clarify political target-setting while bringing efficiency and significant cost savings,” Kuula stated. 

In terms of Europe’s energy markets, Kuula pointed out the long-term nature of energy industry investments.

“I consider it very important that the development of Europe’s energy markets is market-driven and long term and that the game rules are harmonised. Broader markets that function efficiently benefit customers, society and the environment. They enable the right investments in the right place at the lowest possible cost.” 

Fortum Corporation
Corporate Communications

Additional information:
The CEO’s review can be read in full on Fortum’s website at www.fortum.com/agm

Fortum

Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.

Fortum's operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2011, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,800 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information: www.fortum.com