Climate Change

Fortum

InfluenceMap Score
C
Performance Band
59%
Organisation Score
70%
Relationship Score
Sector:
Utilities
Head​quarters:
Espoo, Finland

Fortum is actively lobbying EU energy and climate policy with mixed support, in favour of market-based solutions over regulations. Fortum has consistently recognized the need to reduce emissions in line with a 2°C target and has appealed to policymakers to support the Paris Agreement. Fortum CEO Pekka Lundmand is a vocal advocate for a market-based response to climate change and strongly supports the EU Emissions Trading System (ETS). Fortum has advocated to policymakers to support EU ETS reforms including increasing the Linear Reduction Factor and introducing a Market Stability Reserve (MSR) to increase the carbon price of the scheme. However, the company also supports prioritizing the EU ETS at the expense of energy efficiency and renewable energy subsidies and targets. Accordingly, through its role in the Magritte Group and through its own communications and direct advocacy, throughout 2014 and 2015, Fortnum has consistently opposed EU 2030 energy efficiency and renewable energy targets, supporting only a single 40% EU 2030 GHG emissions target. Furthermore, Fortum appears to actively oppose a range of renewable support schemes. In consultation in 2016, it also advocated for the phase-out of renewable subsidies for 'mature technologies'. CEO Pekka Lundmark has stated support for the coal phase out and the decarbonization the energy sector, whilst Fortum has supported measures to aid the electrification of transport. However, it also appears to not support the forced closure of coal plants and through its Magritte Group membership has opposed the phase out of fossil fuel subsidies.

QUESTIONS SOURCES Main Web Site Social Media CDP Responses Legislative Consultations Media Reports CEO Messaging Financial Disclosures EU Register
Climate Science Transparency 2 2 NA NS NS 2 NS NA
Climate Science Stance 2 2 NA NS 2 2 NS NA
Need for climate regulations -1 -1 NA -1 NS -1 NS NA
UN Treaty Support 1 2 2 NS 2 1 NS NA
Transparency on Legislation 2 NA 1 NA NA NA NS 1
Carbon Tax 0 NS -2 -2 NS NS NS NA
Emissions Trading 1 2 2 1 1 1 1 NA
Energy Efficiency Standards -2 -2 -2 -2 -2 NS NS NA
Renewable Energy Legislation -2 -1 -2 -2 -2 -2 NS NA
Energy Policy and Mix 0 1 NS 2 -1 1 1 NA
GHG Emission Standards 2 2 2 2 2 NS NS NA
Disclosure on Relationships 1 NA 2 NA NA NA NS 1
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
64%
 
53%
 
98%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.