Fortum receives high rating by CDP for climate actions
FORTUM CORPORATION PRESS RELEASE 26 October 2016
Fortum was ranked in category A- and as the top company in the utilities sector in the annual CDP (formerly Carbon Disclosure Project) rating 2016. The Nordic edition of CDP’s 2016 Climate Change report, analysing data disclosed by Nordic companies, was released yesterday in Oslo, Norway.
Today, 97% of Fortum’s electricity production in the EU area and 64% of our total electricity production is carbon-free. The company’s specific emissions are about 10-15% of the average specific emissions of major European utilities.
Fortum scored A- (scale from D- to A, A being the highest score), which means that the company actions represent best practices to advance environmental stewardship, thorough understanding of risks and opportunities related to climate change, formulated and implemented strategies to mitigate or capitalize on these risks and opportunities. Fortum has been participating in the CDP since 2005.
“In addition to climate actions, also high-quality and transparent reporting is essential. Over the last decade the non-financial reporting has become a mainstream requirement for financial markets to fully assess investment targets and incorporate climate change risk and opportunities in investment decisions and we see its importance only increasing,” says Marja Mäkinen from Fortum’s Investor Relations.
Marja Mäkinen, IR (SRI) Manager, Investor Relations, +358 40 527 4090
CDP, formerly Carbon Disclosure Project, is an international, not-for-profit organisation providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information in order to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP represents 827 institutional investor with US$ 100 trillion assets under management. In 2016, more than 1,000 companies disclosed environmental information through CDP. The investor community uses the scoring to assess corporate preparedness for changes in the global operating environment, market demands and emissions regulation. www.cdp.net
Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com