Sustainability approach
Sustainability approach
Sustainability is essential to Fortum’s strategy and we are committed to carbon neutrality by 2030. Our new strategy is designed to deliver on our new purpose: To power a world where people,
businesses and nature thrive together.
How we act responsibly
Fortum is today one of Europe’s cleanest power generators. Our Nordic power generation is based on CO2-free hydro and nuclear power. This business is complemented by onshore wind and solar, district heating and cooling operations, electricity retail business and circular economy.
Fortum’s biggest strength, and a continuing strategic priority for the company, is its ability to deliver reliable and clean energy at scale to customers and the Nordic energy system. Fortum will continue to decarbonise and modernise its existing operations to ensure optimal value creation and to reach its environmental targets. Additionally, as the development of technologies to replace fossil fuels in production processes is accelerating, Fortum will work to find solutions for industrial customers to lower their carbon footprint.
In addition to climate and resources, we pay close attention to the impacts of our operations on our personnel and the society around us. Diversity and equal opportunity are seen as contributing to competitiveness and innovation. Excellence in safety is the foundation of Fortum’s s business and an absolute prerequisite for efficient and interruption-free production.
Sustainability priorities
Fortum’s materiality analysis, updated in 2022, applied a two-dimensional approach, considering both the sustainability impacts of Fortum’s business activities on different sustainability topics and the impacts of these topics on Fortum. Fortum’s 2022 sustainability priorities are presented in the table.
Global Compact reporting
Fortum has participated in the United Nations Global Compact initiative since 2010. In our 2021 Sustainability report, we describe the realisation of the Ten Principles of the Global Compact initiative in our operations in the sections Climate and resources, Personnel and society, and Business ethics and compliance. In addition, we use the GRI Sustainability Reporting Standards disclosures to measure compliance with human rights principles, labour standards, the environment, and anti-corruption. Please find Fortum’s Communication on Progress on the United Nations Global Compact website.
Caring for Climate reporting
We joined the UN Caring for Climate initiative in 2013. We meet the reporting requirements of the Caring for Climate initiative by annually participating in the assessment in the CDP Climate Change questionnaire and by publishing our response on the CDP website.