Fortum and The Paris Agreement: Committing to Climate Change Solutions
Fortum, a Finnish state-owned energy company, is committed to contributing to the goals of the Paris Agreement, a global agreement to combat climate change. The Paris Agreement was adopted by 196 parties at the 21st Conference of the Parties (COP21) in Paris in 2015, and aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with a goal of reaching 1.5 degrees Celsius.
Fortum recognizes that the energy sector is a significant contributor to greenhouse gas emissions, and as such, the company has aligned its business strategy with the Paris Agreement. Fortum has set ambitious targets to reduce its carbon dioxide emissions and increase the share of renewable energy in its portfolio.
One key initiative of Fortum is its investment in wind power. Wind power is a clean and renewable energy source that has the potential to significantly reduce carbon dioxide emissions. Fortum has set a target to increase its wind power capacity to 500 megawatts by 2025. Additionally, the company has invested in solar power, hydropower, and nuclear power, all of which contribute to reducing greenhouse gas emissions.
Fortum is also committed to improving energy efficiency. The company has implemented energy efficiency measures across its operations, which have resulted in significant reductions in energy consumption and greenhouse gas emissions. In 2019, Fortum`s energy efficiency measures resulted in a reduction of 155,000 tonnes of carbon dioxide emissions.
Fortum is also involved in research and development of new technologies that can contribute to reducing greenhouse gas emissions. The company has a research and development center in Stockholm, Sweden, where it conducts research on energy efficiency, renewable energy, and other technologies.
In conclusion, Fortum recognizes the urgent need to combat climate change and is committed to contributing to the goals of the Paris Agreement. The company`s investment in renewable energy, energy efficiency, and research and development of new technologies demonstrate its commitment to reducing greenhouse gas emissions and mitigating the impacts of climate change. By committing to climate change solutions, Fortum is playing a critical role in addressing one of the greatest challenges of our time.