TVO committed to setting climate targets with Science Based Targets initiative (SBTi)

Teollisuuden Voima Oyj (TVO) is committed to setting short-term science-based emission reduction targets. By committing to these targets, TVO supports the target of the Paris Climate Agreement to halve greenhouse emissions by the year 2030 and to reach the net-zero target by the year 2050.

Nuclear power as a carbon neutral electricity production mode plays a significant role in the battle against climate change. The minor greenhouse emissions related to electricity production in Olkiluoto are primarily caused by the procurement of materials and fuels, equipment manufacture, transports, and the construction and demolition of the plants.

- Science-based climate targets help us set ambitious targets for the reduction of emissions. This means concrete actions, not only in our own operation but also in cooperation with our suppliers and partners. We encourage our partners to set their own science-based emission reduction targets, as substantial results can only be achieved through cooperation, says TVO’s President and CEO, Mr. Jarmo Tanhua.

The Science Based Targets initiative (SBTi) is a joint collaboration between CDP (the Carbon Disclosure Project), the UN Global Compact, WRI (World Resources Institute) and WWF (World Wide Fund for Nature). The Science Based Targets initiative utilises a scientific calculation method to ensure that the targets set by businesses are in line with the targets approved in the Paris Climate Agreement.

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for over 40 years. The island of Olkiluoto produces about 30 percent of Finland's electricity needs. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.