Fortum signs a joint letter calling on the EU to set an ambitious emissions reduction target for 2040

FORTUM CORPORATION ONLINE NEWS 25.3.2024

Fortum has joined over 100 businesses and investors in signing a joint letter that advocates for the European Union to establish a greenhouse gas emissions reduction target of at least 90% by 2040. The letter was submitted to the EU Environment Council in their meeting on 25 March 2024.

The open letter coordinated by Corporate Leaders Groups (CLG), highlights the businesses’ and investors’ willingness and capacity to play a key role in translating climate targets into concrete action, in tight collaboration with policymakers. The signatories underscore the economic opportunities and security benefits of an ambitious climate target, advocating for its central role in the EU's strategy for sustainable development and industrial innovation.

“Enabling the decarbonisation of societies through electrification is an integral part of Fortum’s strategy. Our climate policy advocacy and emission reduction target setting (SBTi 1.5 °C) are strongly based on climate science. As the global carbon budget is limited, early action and high EU ambition of at least 90% emission reduction in 2040 are most welcomed. In our view, such ambition is pivotal for both providing investment clarity for the rollout of the most efficient emission reduction technologies, and addressing the EU’s triple challenge of decarbonisation, competitiveness and security of supply,” Markus Rauramo, President and CEO of Fortum, said in CLG Europe’s announcement.

More information​:
Corporate Leaders Groups' announcement​
Fortum's comments on the EU 2040 climate target communication