Fortum: The withdrawal of the United States from the Paris Agreement on climate change is a disappointment


The announcement by US President Donald Trump of his decision to withdraw from the Paris Agreement on combating climate change is regrettable, even though, based on last week’s G7 summit, it was not surprising.

Yesterday’s decision will not doom the Paris Treaty. The decision does, however, set a bad example, and may slow down emissions reduction efforts by the United States. On the other hand, investments in renewable energy in the United States have largely been made by companies, and largely in response to political guidance at the state rather than the federal level. It appears that the individual states in the United States will continue their efforts to combat climate change.

Fortum does not consider it likely that the withdrawal of the United States from the Paris Agreement will cause a major setback to renewable energy investments, either in the US itself or globally. The costs of renewable energy, especially wind and solar power, have fallen rapidly, and in many places are already cheaper than conventional production technologies. 

The decision by President Trump’s administration may cause increased uncertainty in some quarters when it comes to promoting measures to combat climate change. However, the decision may also serve to bring the rest of the international community closer together and strengthen the commitment of other countries to reducing emissions.

Fortum’s goal, in line with our vision For a Cleaner World, is to lead the transition toward a low-emission energy system and optimal use of resources. Our task is to expedite this change by reforming the energy system, improving resource efficiency, and creating and offering smart solutions. We continue to believe in this future as wholeheartedly as ever.

Fortum Corporation

Additional information: 
Esa Hyvärinen, Senior Vice President, Public Affairs, tel. +358 40 826 2646
Kari Kankaanpää, Senior Manager, Climate Affairs, tel. +358 50 453 2330

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FortumFortum Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2018, our sales were EUR 5.2 billion and 57% of our electricity generation was CO2 free. Fortum's share is listed on Nasdaq Helsinki.