Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Fortum exhibits strategic engagement on science-aligned climate policy, holding both positive and negative positions. Fortum is supportive of the EU Emissions Trading System and greenhouse gas (GHG) emissions reduction regulations, as well as a transition to renewable energy, nuclear and hydrogen. However, the company appears to advocate against some stringent criteria for low carbon hydrogen production.
Top-line Messaging on Climate Policy: Fortum’s top-line messaging on climate policy is positive. The company supported the target of limiting warming to 1.5°C and the goal of net-zero by 2050 in its 2025 Climate Lobbying Review, published in April 2025, alongside support for the goals of the Paris Agreement. In its January 2024 white paper on the priorities for the next European Commission, Fortum also supported the implementation of the EU Fit for 55 Package.
Engagement with Climate-Related Regulations: Fortum holds generally positive positions on emissions trading policy and GHG emissions regulations.
In an April 2025 joint letter to policymakers, Fortum supported linking the UK and EU Emissions Trading Systems (ETS), while clearly continuing to support the need for the policies to contribute to climate goals. The company also supported extending the EU ETS to more sectors in its 2025 Climate Lobbying Review, published in April 2025.
Furthermore, Fortum has supported ambitious GHG emissions reduction targets. For example, the company supported the EU 2030 target of 55% GHG emission reductions in its 2025 Climate Lobbying Review, published in April 2025. In a June 2023 consultation response, Fortum also supported an EU 2040 GHG emissions reduction target of 80-90% compared to 1990 levels, which is higher than the average trajectory of emission reductions.
Positioning on Energy Transition: Fortum communicates support for a transition to renewable energy, nuclear and hydrogen, however the company appears to advocate for some major exceptions to policy related to renewable hydrogen production.
In its 2023 Sustainability Report, published in March 2024, the company supported the phase out of fossil fuels and supported an increase in renewable energy, as well as the use of hydrogen produced from renewable energy. In comments submitted on the EU Net Zero Industry Act in June 2023, Fortum supported the policy and advocated for the inclusion of nuclear in the list of strategic net-zero technologies, while stating it should partner with renewables and other low-carbon options. The company also supported industrial carbon removals while acknowledging the need to prioritize GHG emissions reductions in a consultation response on the EU 2040 Climate Target in June 2023.
However, Fortum appeared to advocate for some major exceptions in the EU Hydrogen and Gas Decarbonization Package Delegated Act on the definition of low-carbon hydrogen in October 2024 regulatory comments. The company appeared to advocate for hydrogen produced using electricity sourced from low-carbon power purchase agreements (PPAs) without the additionality principle and geographical and temporal criteria. This revision would make it easier for low-carbon hydrogen producers to use pre-existing renewable electricity capacity and enable companies to be able to circumvent stricter production criteria for renewable hydrogen as finalized by the EU Commission in 2023. This would weaken the EU's ambition for its hydrogen policy.
Industry Association Governance: Fortum has disclosed a list of its industry association memberships in its 2024 Climate Lobbying Review, published in April 2025, and on its Participation in Industry Associations webpage. Fortum is a member of Hydrogen Europe, Federation of Indian Chambers of Commerce & Industry (FICCI), and Associated Chambers of Commerce and Industry of India (ASSOCHAM), all of which have a mixture of positive and negative positions on climate policy.
A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically.
This summary was last updated in Q3 2025.
In addition, Fortum is a listed company with more than 50% of its shares owned by the government of Finland. State-owned enterprises likely retain channels of direct and private engagement with government officials that InfluenceMap is unable to assess, and therefore are not represented in Fortum's engagement intensity metric.