Fortum Receives A- Rating for Climate Efforts in 2023 CDP Report

Fortum Receives A- Rating for Climate Efforts in 2023 CDP Report

(IN BRIEF) Fortum achieved an A- rating for its climate efforts in the 2023 Carbon Disclosure Project (CDP) report, showing significant improvement from its previous B rating. The company’s enhanced score reflects advancements in risk disclosure, value chain engagement, and energy practices. Fortum, a key player in clean energy production, attributes its success to a long-standing commitment to sustainability, evidenced by its participation in the CDP assessment since 2005. With 98% of its power generation being CO2-free and ambitious emission reduction targets aligned with climate science, Fortum continues to lead in environmental stewardship, exemplifying its dedication to a net-zero future.

(PRESS RELEASE) ESPOO, 13-Feb-2024 — /EuropaWire/ — Fortum scored A- for its climate efforts in the 2023 Carbon Disclosure Project (CDP) report. Fortum’s overall scoring improved from B to A- with improvement in risk disclosure, value chain engagement and energy. Fortum has participated in the CDP assessment since 2005. The 2023 report is based on Fortum’s 2022 performance.

To earn an A/A- score from CDP, organizations must show environmental leadership, disclosing action on climate change. They must demonstrate best practices in strategy and action as recognized by frameworks such as the TCFD and Accountability Framework.

“I am very proud that Fortum is recognized for its climate leadership in this ranking. Sustainability is at the core of our strategy and what we do. We deliver reliable clean energy to customers and the Nordic energy system, supporting also customers´ decarbonisation needs. In March 2023, we published our new ambitious environmental targets, and the improved score is well in line with the advancements we are making and our dedication to the long-term work towards net-zero,” says Tomas Qvickström, Vice President, Corporate Sustainability.

Fortum is one of the cleanest power producers in Europe with 98% of its power generation being CO2-free. Fortum is committed to setting near- and long-term company-wide emission reduction targets in line with climate science with the SBTi and will exit coal in its production already by 2027. Fortum continues to work towards these targets with its decarbonisation projects, such as Espoo Clean Heat.

CDP is a non-profit charity promoting sustainable development. It assesses companies’ climate performance globally on the scale A–D. The organisation maintains a global reporting system through which companies and cities can measure, monitor and control their environmental impacts. In 2023, about 23,200 companies reported on their environmental impacts through the CDP’s Climate Change Disclosure system.

Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum’s share is listed on Nasdaq Helsinki. fortum.com

Media Contact:

Fortum NewsDesk
+358 40 198 2843
newsdesk@fortum.com

Tomas Qvickström
Vice President Corporate Sustainability
+358 50 453 6298,
tomas.qvickstrom@fortum.com

SOURCE: Fortum Corporation