Sign up to access all our data and the evidence and analysis underlying our overall scores. Once you've created an account, we'll get in touch with further details:
Sign Up
| Overall Assessment |
Comment |
Score |
| Comprehensive |
Fortum Oyj has demonstrated a comprehensive level of transparency in disclosing its climate lobbying activities. The company has been explicit in naming specific climate policies it has engaged with, such as the EU Emissions Trading System (EU ETS), the EU 2030 climate target, and the Energy Efficiency Directive. It has also detailed its advocacy for measures like modifying the Market Stability Reserve (MSR), increasing the Linear Reduction Factor (LRF), and extending the ETS to additional sectors like heating and cooling. Fortum has provided clear insights into its lobbying mechanisms, including direct engagement with the European Commission, Parliament, and Council, as well as indirect lobbying through organizations like the Union of the Electricity Industry – Eurelectric. The company also disclosed its participation in international initiatives such as the Caring For Climate Initiative under the UN Global Compact and the Carbon Pricing Leadership Coalition by the World Bank. Furthermore, Fortum has been transparent about the specific outcomes it seeks, such as advocating for a well-functioning EU ETS to deliver a meaningful carbon price, opposing overlapping policies like carbon taxes, and supporting the EU's target of carbon neutrality by 2050. It also emphasizes the importance of streamlining permitting processes for renewable energy investments and creating demand for recycled materials through regulatory measures. These disclosures collectively reflect Fortum's commitment to transparency and its clear articulation of its climate lobbying efforts and objectives.
|
4
|
| Overall Assessment |
Comment |
Score |
| Comprehensive |
Fortum demonstrates a comprehensive governance process for climate lobbying alignment, supported by detailed disclosures and robust mechanisms. The company has established a "governance model in place for its public affairs activities that defines objectives, scope, roles and responsibilities as well as the governing framework of Public Affairs within Fortum," ensuring that lobbying activities align with its climate change strategy and business priorities. Fortum's Public Affairs team leads the preparation, coordination, and adoption of lobbying positions, showcasing a structured approach to managing lobbying activities. Fortum ensures alignment with the Paris Agreement, stating that "Fortum's lobbying messages and activities shall also be consistent with the Paris Agreement," and extends this alignment to "the key industry associations with whom Fortum cooperates." To monitor and enforce this alignment, Fortum compiles an annual "Climate Lobbying Review which assesses the Paris alignment of the key industry associations with whom Fortum cooperates, as well as the Paris alignment of Fortum's own lobbying positions," providing transparency and accountability through its Sustainability Reporting. The governance structure is clearly defined, with oversight responsibilities assigned to specific individuals, including Fredrik Blomfelt, Head of Corporate ESG, and Kari Kankaanpää, Director of Corporate Relations and Climate Policy, reflecting a strong accountability framework. Additionally, Fortum's lobbying efforts are guided by ethical principles outlined in its "ethical guidelines for advocacy," complemented by its broader code of conduct and values. This indicates a robust governance framework encompassing direct and indirect lobbying activities, with clear monitoring mechanisms and accountability structures in place.
|
4
|