Fortum

Fortum, headquartered in Finland and operating in the Electricity nec industry, is committed to reducing its carbon emissions.

In 2025, Fortum's total reported greenhouse gas emissions are approximately 12.09 billion kg CO2e. This includes Scope 1 emissions of about 700 million kg CO2e, Scope 2 market-based emissions of approximately 130.6 million kg CO2e, and Scope 3 emissions of around 11.2 billion kg CO2e. Key categories within Scope 3 include fuel and energy related activities (about 9.27 billion kg CO2e) and use of sold products (approximately 1.4 billion kg CO2e).

Looking back, Fortum's emissions in 2024 were approximately 12.87 billion kg CO2e, comprising Scope 1 emissions of about 1.35 billion kg CO2e, Scope 2 market-based emissions of approximately 24.5 million kg CO2e, and Scope 3 emissions of around 11.49 billion kg CO2e. In 2023, total emissions were about 14.15 billion kg CO2e, with Scope 1 emissions of approximately 1.64 billion kg CO2e, Scope 2 market-based emissions of around 44.8 million kg CO2e, and Scope 3 emissions of about 12.47 billion kg CO2e.

Fortum has set ambitious climate commitments, with Science Based Targets initiative (SBTi) validated targets. The company aims for net-zero greenhouse gas emissions across its value chain by 2040. Near-term targets include reducing Scope 1 and 2 GHG emissions from electricity and heat generation by 85% per MWh by 2030, from a 2023 base year. Fortum also commits to reducing Scope 1 and 3 GHG emissions from fuel and energy related activities covering all sold electricity by 69% per MWh by 2030. Furthermore, absolute Scope 3 GHG emissions from the use of sold products for sold fossil fuels are targeted for a 55% reduction by 2033 from a 2023 base year. Long-term targets include a 90% reduction in Scope 1 and 2 GHG emissions from electricity and heat generation per MWh by 2040, and a 94% reduction in Scope 1 and 3 GHG emissions from fuel and energy related activities covering all sold electricity per MWh by 2040. The company also aims for a 90% reduction in absolute Scope 3 GHG emissions from fuel and energy related activities and from the use of sold products for sold fossil fuels by 2040.

Fortum's climate strategy also includes a target to reduce CO2 emissions (Scope 1 and 2) in European generation by at least 50% by 2030, compared to a 2019 base year, and to be carbon neutral (Scope 1 and 2) by 2035 at the latest. The company launched a new strategy in March 2023, bringing forward its target to reach carbon neutrality (Scopes 1, 2, 3) to 2030 and committing to exit all coal-based generation by the end of 2027.