Sustainability targets
Our purpose shows our determination to work towards a world where there is a balance between the wellbeing of people, the needs of societies, the success of businesses and the diversity of nature. Our actions are guided by this purpose and our ambitious climate targets as we continue taking steps towards net-zero emissions. We also want to be a company that cares about its people, the communities around us, and the people impacted by our supply chains, both locally and globally.
The sector in which we operate, as well as the nature of our business and the impact our activities have on the environment and society, represent a complex framework. We need to accurately identify all the areas where we have an impact – positive or negative. Based on our yearly double materiality assessment (DMA), we identify our material sustainability topics. To manage these topics, we have set sustainability targets for the entire group to demonstrate our commitment and future ambitions.
SBTi-verified near- and long-term climate targets
Fortum commits to:
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Reach net-zero GHG emissions across the value chain by 2040.
Intensity-based targets for own power and heat production and for sold electricity
- Reduce Scope 1 and 2 GHG emissions by 85% per MWh by 2030 and by 90% per MWh by 2040 from a 2023 base year*.
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Reduce Scope 1 and 3 GHG emissions from fuel- and energy-related activities covering all sold electricity by 69% per MWh by 2030 and by 94% per MWh by 2040 from a 2023 base year*.
*The SBTi target boundary includes land-related emissions and removals from bioenergy feedstocks.
Absolute targets for gas and heat sales
- Reduce absolute Scope 3 GHG emissions from the use of sold products for sold fossil fuels by 55% by 2033 and by 90% by 2040 from a 2023 base year.
- Reduce absolute Scope 3 GHG emissions from fuel- and energy-related activities by 90% by 2040 from a 2023 base year.
Other climate targets
- Coal exit in our own operations by the end of 2027.
- Target for specific emissions at below 20g CO2/kWh for total energy production and at below 10g CO2/kWh for power generation by 2028.
Biodiversity targets
Fortum’s three main biodiversity targets
Aquatic
- Increase the ecological value in river stretches where actions have the most ecological benefit, by 2040
Terrestrial
- Achieve a net positive biodiversity impact on land use for our own operations from 2030 onwards
- No increase in land use negative impact on biodiversity from procured biomass in existing operations compared to 2024 levels
Safety targets
- Total Recordable Injury Frequency (TRIF), <1.0 by the end of 2030
- No severe injuries
- 75% execution rate for Safety improvement plans in 2025
Social sustainability targets
- Improve employee engagement clearly above industry benchmark level by 2030.
- Commitment to ensure that all employees receive an adequate wage and to not have unreasoned or unexplained gender pay gaps.
- Supplier qualification rate 85%
- Enhance supply chain due diligence by developing supplier evaluation and supply chain data management.
Business conduct targets
- No incidents of corruption and bribery
About Science-Based Targets initiative
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
The SBTi develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest.
The SBTi is incorporated as a charity, with a subsidiary which delivers target validation services. SBTi’s partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
More information: www.sciencebasedtargets.org www.sciencebasedtargets.org - External link.