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Fortum Oyj - ESG Rating & Company Profile powered by AI

Industry Group:Electric Utilities

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Fortum Oyj in the Electric Utilities industry gained a UN SDG ESG Transparency Score of 7.5; made up of an environmental score of 8.0, social score of 4.0 and governance score of 8.0.

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SDG Transparency Score for Fortum Oyj 
Low
0 - 3
Medium
4 - 6

7.5

High Impact
7 - 10
Last Score Update: 2022-07-01
What drives the score for Fortum Oyj 
8.0

Environmental

4.0

Social

8.0

Governance

Detailed ESG Breakdown
SEVVA Platform offers unique drill down to the underlying sources powering the ratings. Break down your ESG analysis by 17 UN SDGs and 8 additional governance factors.

Peer Group Comparison

RankCompanySDG Transparency Score Performance
1Algonquin Power & Utilities Corp
9.3
High
2Meridian Energy Ltd
9.0
High
146Union Electric Co
7.6
High
146Unitil Corp
7.6
High
161Fortum Oyj
7.5
High
161Public Service Enterprise Group Inc
7.5
High
161Korea Electric Power Corp
7.5
High
.........
688Zhytomyroblenerho AT
0.0
Low
688innogy SE
0.0
Low
.........
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Frequently Asked Questions

Does Fortum Oyj reference operational or capital allocation in relation to climate change?Yes
company-nameESG Disclosurefiling2021-07-28
Objective for implementing an internal carbon price Stress test investments GHG Scope Scope 1 Application Internal price on carbon pertains to Scope 1 emissions in the EU countries, and it is used in assessing the sensitivity of investments in Fortum's capital expenditure decisions. Fortum's investment proposals are subject to internal investment evaluation and approval process, where use of the internal price is checked. In addition to other commodity prices, the price of carbon is among the factors affecting the profitability of the investments. Carbon pricing is one of the parameters used for the analysis of Fortum's potential investments, and Fortum's investments, e.g., to wind power production were EUR 30 million in the Nordic countries in 2020.
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company-nameESG Disclosurefiling2021-07-28
Fortum Oyj CDP Climate Change Questionnaire 2021 27 July 2021 95 Products and services Description of product/service CAPEX planned for product/service Percentage of total CAPEX planned products and services End of year CAPEX plan Other, please specify Circular economy and TSO services Fortum has published its indicative capital expenditure, CAPEX, plan for growth investments in 2021-2025.
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company-nameESG Disclosurefiling2021-07-28
Other, please specify Clean gas, e.g. hydrogen 500,000,000 17 2025 Fortum has published its indicative capital expenditure, CAPEX, plan for growth investments in 2021-2025. The growth CAPEX for 2021-2025 will be about EUR 3 bn. The share of the CAPEX for hydrogen and clean gas Fortum Oyj CDP Climate Change Questionnaire 2021 27 July 2021
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Does the Board describe its role in the oversight of climate-related risks and opportunities?Yes
company-nameESG Disclosurefiling2021-07-28
Fortum's Audit and Risk Committee (ARC), members of the Fortum Executive Management (FEM), and other senior executives support the Board of Directors in the decision making in these matters, when necessary. Fortum has implemented TCFD (Task Force on Climate-related Financial Disclosures) reporting process, and the ARC reviews annually the Group Risk Policy, material risks, including climate- related risks, and uncertainties.
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company-nameESG Disclosurefiling2021-07-28
Fortum's Board of Directors appoints members of the Audit and Risk Committee (ARC) from amongst its members. The Chairman of the committee reports on the committee's work to the Board of Directors regularly after each meeting, and the committee meeting materials and minutes are available to all members of the Board of Directors. The committee monitors Fortum Group's reporting process of, among others, the efficiency of the internal controls, internal audit and risk management systems. The ARC also reviews annually the Group Risk Policy, material risks, including climate-related risks, and uncertainties. Fortum published its first TCFD (Task force on Climate-related Financial Disclosures) report on March 2020.
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company-namecategory-descSTP2021-07-28
Fortum's Audit and Risk Committee (ARC), members of the Fortum Executive Management (FEM), and other senior executives support the Board of Directors in the decision making in these matters, when necessary. Fortum has implemented TCFD (Task Force on Climate-related Financial Disclosures) reporting process, and the ARC reviews annually the Group Risk Policy, material risks, including climate- related risks, and uncertainties.
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Is Capital Expenditure linked to emissions reduction?

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Has Fortum Oyj submitted or committed to submit to a shareholder vote (say-on-climate) its climate strategy?

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Does Fortum Oyj disclose current and historical air emissions?

Does Fortum Oyj disclose current and / or historical ozone-depleting emissions?

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Does Fortum Oyj disclose current and / or historical scope 1 emissions?
Does Fortum Oyj disclose current and / or historical scope 2 emissions?

Does Fortum Oyj disclose current and / or historical scope 3 emissions?

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Does Fortum Oyj disclose current and / or historical emissions broken down by scope?

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Does Fortum Oyj disclose GHG and Air Emissions intensity?

Does Fortum Oyj disclose GHG Targets?

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Does Fortum Oyj disclose data for NOx, SOx and VOCs emissions?

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Does Fortum Oyj disclose its Scope Emissions targets?

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Does Fortum Oyj disclose current and historical energy intensity?

Does Fortum Oyj disclose its current and / or historical energy use?

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Does Fortum Oyj disclose energy use targets?

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Does Fortum Oyj disclose its Renewable Energy targets?

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Does Fortum Oyj disclose its biodiversity policy?

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Does Fortum Oyj disclose its internal carbon price?

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Does Fortum Oyj disclose long-term targets (>5 years) for reducing its GHG emissions?

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Does Fortum Oyj disclose Scope 3 emissions from use of sold products?

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Does Fortum Oyj disclose current and historical material use?

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Are Operating Expesnses linked to emissions reduction?
Does Fortum Oyj disclose climate scenario or pathway analysis?
Does Fortum Oyj reflect climate-related risks in its financial statements?

Does Fortum Oyj disclose the number and percentage of companies screened by environmental and social criteria?

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Are emissions metrics verified by CDP?

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Are emissions metrics verified by STBi?

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Does Fortum Oyj report according to TCFD requirements?

Does Fortum Oyj disclose current and historical waste generation?

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Does Fortum Oyj disclose current and / or historical waste management?

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Does Fortum Oyj disclose waste targets?

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Has Fortum Oyj published clear targets on waste management?

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Does Fortum Oyj disclose current and / or historical water consumption?

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Does Fortum Oyj disclose water use targets?
Does Fortum Oyj condunt supply chain audits?

Does Fortum Oyj engage third parties to conduct supply chain audit?

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Does Fortum Oyj disclose board meeting attendance?

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Are there worker representatives on the board?

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Does Fortum Oyj disclose long term financial targets?

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Does Fortum Oyj report NPS (customer loyalty, customer churn or satisfaction surveys) ?

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Does Fortum Oyj report customer churn rates?

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Does Fortum Oyj have a policy relating to cyber security?

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Does Fortum Oyj disclose cybersecurity risks?

Does Fortum Oyj adhere to ISO 27001 / ISO 27002 standards or the NIST cybersecurity framework?

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Does Fortum Oyj conduct cybersecurity training?

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Does Fortum Oyj disclose the individual responsible for D&I?
Does Fortum Oyj conduct 360 degree staff reviews?

Does Fortum Oyj have engagement surveys, a culture survey, a pulse survey?

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Does Fortum Oyj have a long term incentive (LTI) executive compensation plan based on a measure of return on capital?

Does Fortum Oyj disclose the vesting percentage required for performance threshold in the LTIP?

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Has Fortum Oyj issued a profit warning in the past 24 months?
Does Fortum Oyj report the average age of the workforce?

Does Fortum Oyj report internal employee trust metrics such as ENPS?

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Does Fortum Oyj permit its workforce to engage in collective bargaining?

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Does Fortum Oyj disclose average employee tenure?

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Does Fortum Oyj refer to human capital or people risk in its risk disclosures?

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Does Fortum Oyj promote decent work conditions in relation to its supply chain?

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Does Fortum Oyj allow for Work Councils/Collective Agreements to be formed?

Does Fortum Oyj report the number of strikes or work related stoppages?

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Does Fortum Oyj have an accelerator or VC vehicle to help deliver innovation?

Does Fortum Oyj have a chief innovation officer?

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Does Fortum Oyj disclose the ratio of CEO total compensation relative to average employee compensation ?

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Does Fortum Oyj disclose its gender pay gap?

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Does Fortum Oyj disclose its ethnicity pay gap?
Does Fortum Oyj disclose the number of employees in R&D functions?

Does Fortum Oyj engage in animal testing?

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Does Fortum Oyj engage in stem cell research?

Does Fortum Oyj have a commitment to a living wage?

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Does Fortum Oyj disclose the vesting schedule of its equity compensation plan?

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Is executive remuneration linked to climate performance?
Does Fortum Oyj offer flexible work?

Does Fortum Oyj disclose employee diversity metrics?

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Does Fortum Oyj disclose employee gender diversity metrics?

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Does Fortum Oyj disclose the pay ratio of women to men?
Does Fortum Oyj disclose incidents of non-compliance in relation to the health and safety impacts of products and services?

Does Fortum Oyj disclose information on fatalities and accidents in the workplace

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Does Fortum Oyj report instances of occupational ill health, injury and fatality?

Does Fortum Oyj disclose reportable workplace incidents?

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Does Fortum Oyj disclose the number of employees, new hires and turnover metrics?

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Does Fortum Oyj disclose parental leave metrics?

Does Fortum Oyj disclose employee training metrics?

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Does Fortum Oyj disclose the number of operations that have been subject to human rights reviews or human rights impact assessments?
Does Fortum Oyj disclose its policies for bribery, corruption, whistle-blower, conflict of interest?

Does Fortum Oyj disclose the number of customer privacy complaints?

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Does Fortum Oyj disclose incidents of discrimination?

Does Fortum Oyj disclose incidents relating human rights, child labour and forced labour?

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Does Fortum Oyj disclose incidents of corruption?

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Does Fortum Oyj disclose the number of incidents involving the rights of indigenous peoples?

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Does Fortum Oyj disclose incidents of non-compliance in relation to product and service information/labelling or marketing communications?

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Did Fortum Oyj have a product recall in the last two years?
Does Fortum Oyj support suppliers with sustainability related research and development?
Does Fortum Oyj have careers partnerships with academic institutions?
Is Fortum Oyj involved in embryonic stem cell research?

Does Fortum Oyj avoid gender bias in its hiring?

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Does Fortum Oyj disclose the number of hours and/or employees/security personnel trained on human rights policies or procedures?

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Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat in the Nordic countries, Germany, the United Kingdom, Russia, the Netherlands, the Baltic Rim area, and internationally. The company's Generation segment generates power through nuclear, hydro, wind, and thermal resources; and provides power portfolio optimization, trading, and industrial intelligence, as well as nuclear services. Its City Solutions develops solutions in the areas of heating, cooling, waste-to-energy, biomass, and other circular economy solutions, as well as solar power production. The company's Consumer Solutions segment engages in electricity and gas retail businesses, including the provision of invoicing and customer services; and electricity and related value-added products, as well as digital services. This segment serves approximately 2.4 million customers. Its Russia segment generates and sells power and heat. The company's Uniper segment engages in the power generation business, as well as energy trading and optimization activities. Fortum Oyj was founded in 1998 and is headquartered in Espoo, Finland.