Fortum
What do our scores mean?
The organizational score represents the degree to which the organization influencing climate policy and legislation. Corporations also have relationship scores reflecting their links with influencers like trade associations. Both are combined to place the corporation in a performance band. Full details can be found here.
Engagement Intensity
The engagement intensity (EI) is a metric of the extent to which the company is engaging on climate change policy matters, whether positively or negatively. It is a number from 0 (no engagement at all) to 100 (full engagement on all queries/data points). Clearly energy companies are more affected by climate regulations and will have a higher EI than, for example retailers. So an organization’s score should be looked at in conjunction with this metric to gauge the amount of evidence we are using in each case as a basis for scoring. On our scale, an EI of more than 35 indicates a relatively large amount of climate policy engagement.
Relationship Score, December 2020
A new batch of industry associations has been uploaded onto the InfluenceMap system and the relationship scores recalculated accordingly.
- Details of Organization Score
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What do the 0,1,2 and NSs, NAs mean?
Each cell in the organization's matrix presents a chance for us to assess each data source against our column of climate change policy queries. We score from -2 to 2, with negative scores representing evidence of obstructive influence. "NA" means "not applicable" and "NS" means "not scored" - that is we did not find any evidence either way. In both cases, the cell's weighting is re-distributed over others. Red and blue cells represent highly interesting negative or positive influence respectively. Full details can be found here.
- Details of Relationship Score
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What is the Relationship Score
A corporation, as well as its organizational score will have a relationship score. It is computed by aggregating the organizational scores of the Influencers (trade bodies etc.) it has relationships with, weighted by both the strength of these relationships and the relative importance of the Influencers towards climate change policy. Full details can be found here.
QUERIES
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DATA SOURCES | |||||||
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Main Web Site
The main organizational Web site of the company and its direct links to major affiliates and attached documents. |
Social Media
We search other media and sites funded or controlled by the organization, such as social media (Twitter, Facebook) and direct advertising campaigns of the organization. |
CDP Responses
We assess and score responses to two questions from CDP's climate change information request (12.3 a & 12.3c) related to political influence questions (currently these are not numerically scored by the CDP process). |
Legislative Consultations
Comments from the entity being scored on governmental regulatory consultation processes, including those obtained by InfluenceMap through Freedom of Information requests. |
Media Reports
Here we search in a consistent manner (the organization name and relevant query search terms) a set of web sites of representing reputable news or data aggregations. Supported by targeted searches of proprietary databases. |
CEO Messaging
Here we search in a consistent manner (the CEO/Chairman, organization name and relevant query search terms) a set of web sites of representing reputable news or data aggregations. Supported by targeted searches of proprietary databases. |
Financial Disclosures
We search 10-K and 20-F SEC filings where available, and non US equivalents where not. . |
EU Register
Information provided by to the voluntary EU Transparency Register. |
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Climate Science Transparency
Is the organisation being transparent about climate change science? |
2
|
1
|
NA | NS | NS |
1
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NS | NA |
Climate Science Stance
Is the organization supporting the science of climate change and the response demanded (as per the IPCC) |
1
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1
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NA |
2
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2
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1
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NS | NA |
Need for Climate Regulation
To what extent does the organization express the need for climate policy and regulations in general. |
0
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-1
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NA |
0
|
NS |
0
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NS | NA |
UN Treaty Support
Is the organization supporting a global treaty on climate change and the UN FCCC process? |
1
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2
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NA |
2
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2
|
1
|
NS | NA |
Transparency on Legislation
Is the organisation being transparent about their positions on climate change legislation and policy, including CEO statements. |
2
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NA |
2
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NA | NA | NA | NS | NA |
Carbon Tax
Is the organisation supporting policy and legislative measures to address climate change: carbon tax. |
0
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NS |
-2
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0
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NS | NS | NS | NA |
Emissions Trading
Is the organisation supporting policy and legislative measures to address climate change: emissions trading. |
1
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2
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1
|
1
|
1
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0
|
1
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NA |
Energy Efficiency Standards
Is the organisation supporting policy and legislative measures to address climate change: Energy efficiency standards and targets |
-2
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-2
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-2
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-2
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-2
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NS | NS | NA |
Renewable Energy Legislation
Is the organisation supporting policy and legislative measures to address climate change: Renewable energy targets, subsidies and legislation. |
-1
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-1
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-2
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-2
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-1
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-2
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NS | NA |
Energy Policy and Mix
Is the organisation supporting policy and legislative measures to address climate change: energy policy and the energy mix. We refer to IPCC thinking on renewables, coal, oil and gas. |
0
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0
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NS |
0
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-1
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1
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-1
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NA |
GHG Emission Standards
Is the organisation supporting policy and legislative measures to address climate change: GHG emission standards and targets. |
2
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2
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2
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1
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2
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2
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NS | NA |
Disclosure on Relationships
The Caring for Climate “inventory” of climate change policy influences: Are companies being transparent about their business associations which may impact climate debate and policy |
-1
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NA |
2
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NA | NA | NA | NS | NA |

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
CEO of Fortum is on the board of Energi Norge which is a member of Eurelectric

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is an indirect member of Eurelectric through Finnish Energy

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of Eurelectric. Fortum disclosed in its 2019 CDP climate change questionnaire that the company was represented in the Working Group on Climate Change
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of Eurelectric

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
CEO of Fortum is on the board of Energi Norge which is a member of Eurelectric

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is an indirect member of Eurelectric through Finnish Energy

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of Eurelectric. Fortum disclosed in its 2019 CDP climate change questionnaire that the company was represented in the Working Group on Climate Change
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of Eurelectric

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of CII

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of CII

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of CII

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of CII

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of IETA. Fortum disclosed in its 2019 CDP climate change questionnaire that it is represented in several cliamte related working groups at IETA
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of IETA. Fortum disclosed in its 2019 CDP climate change questionnaire that it is represented in several cliamte related working groups at IETA
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of IETA. Fortum disclosed in its 2019 CDP climate change questionnaire that it is represented in several cliamte related working groups at IETA
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
InfluenceMap Comment:
Fortum is a member of IETA. Fortum disclosed in its 2019 CDP climate change questionnaire that it is represented in several cliamte related working groups at IETA
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
A subsidiary of Fortum is a member of solarpower europe
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of SolarPower Europe

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
A subsidiary of Fortum is a member of solarpower europe
not specified

InfluenceMap Data Point on Corporate - Influencer Relationship
InfluenceMap Comment:
Fortum is a member of SolarPower Europe
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.
Climate Lobbying Overview: Fortum is actively lobbying EU energy and climate policy with mixed and potentially inconsistent positions on decarbonisation. Fortum appears to consistently support strong EU GHG emissions targets and reforms to strengthen the EU Emissions Trading System (EU ETS) but has argued against EU regulations to promote energy efficiency and renewable energy, including binding targets. Furthermore, in 2020, Fortum appears to have expressed increasingly supportive positions on a prolonged role of coal in the EU’s energy mix.
Top-line Messaging on Climate Policy: Fortum appears supportive of the Paris Agreement and in 2020 stated that it “should be the number one priority of the next legislature of EU institutions”. In 2018-20, Fortum has consistently communicated support for the 1.5°C temperature goal, including in response to a 2020 EU consultation on the EU’s 2030 Climate Target Plan. However, in 2020, the company has also stressed concerns about technological feasibility and the costs of ambitious emissions reductions. Fortum in 2020 has advocated for a market-based response to climate change, supporting carbon pricing as the EU’s “main instrument” of climate regulation.
Engagement with Climate-Related Regulations: Fortum appears to have consistently lobbied in support of ambitious EU GHG emissions targets. In 2018-20, Fortum stated public support for an EU 2050 climate neutrality target and for increasing the EU 2030 GHG emissions reduction target. In EU climate legislative consultation responses in 2018 and 2020, Fortum stated support for a 2050 EU climate neutrality target. It further supported raising the EU 2030 GHG emissions target to 45% in a 2018 consultation response, and 50-55% in a 2020 response.
Fortum has consistently supported the EU Emissions Trading System (EU ETS), advocating for a market-based EU response to climate change. Fortum in 2018-20 appears to have supported EU ETS reforms in public communications, policy papers, and in multiple 2020 EU consultation responses to increase the carbon price and effectiveness of the scheme. Support for reforms in 2018-20 includes increasing the Linear Reduction Factor, making the double intake rate of the Market Stability Reserve permanent, and extending the EU ETS to the heating and cooling sector. Fortum communications from 2020 also suggest that Fortum supports introducing an EU border carbon adjustment mechanism for the power sector.
However, Fortum’s support for the EU ETS has come at the expense of other alternative and complementary EU climate regulations. Fortum appears to have lobbied against EU energy efficiency and renewable legislation. In a 2020 EU consultation response, Fortum argued that the “EU’s current three target approach (GHG, renewables, energy efficiency) needs to be carefully reconsidered” to prioritize carbon pricing as the “leading instrument”. In a 2020 presentation by their Public Affairs team, Fortum stated that “renewable energy is already mainstream and should be fully market-driven” and that “subsidies for mature RES should be phased out”.
Positioning on Energy Transition: Since 2020, Fortum appears to have communicated positions increasingly supportive of new thermal coal capacity and coal’s continued use in Europe, despite also continuing to communicate support for a low-carbon energy transition. While Fortum in 2020 has communicated general support for “phasing out coal in energy production” without specifying clear IPCC-aligned deadlines, it has also vocally defended the opening of a new German coal plant by its new subsidiary, Uniper. Furthermore, in 2020 Fortum has publicly endorsed its subsidiary Uniper following legal action against a 2030 Netherlands coal phase-out date. However, in 2018-20, Fortum has also advocated to policymakers to support the EU’s energy transition and decarbonization, including in a 2018 consultation on long-term EU GHG emissions reductions. Fortum has further communicated support in 2019-20 for the electrification of buildings, heat, transport and industry and the decarbonization of the economy in CEO communications.
Industry Association Governance: Fortum has publicly disclosed information on its membership to industry associations on a corporate webpage without providing further details on the companies role within each association’s governing bodies or influence over their climate positions. However, Fortum appears to have transparently disclosed its trade association memberships, their climate positioning and Fortum’s influence over, and consistency with their positions in its 2020 CDP response. Fortum states that it is consistent in its climate position alignment with all the trade associations it remains a member of. Fortum is a member of Eurelectric, which is actively lobbying EU climate policy with increasingly positive recent engagement, and the International Emissions Trading Association, which advocates in support of the EU ETS while opposing ambitious EU renewable and energy efficiency legislation.