Fortum Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Mon, 06 Mar 2023 13:52:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Fortum creates economic value for its stakeholders https://sustaincase.com/case-study-how-fortum-creates-economic-value-for-its-stakeholders/ Mon, 24 Oct 2022 06:07:44 +0000 https://ccprowebs.com/new-sustaincase.com/?p=14267 Fortum is a Finnish state-owned energy company with activities in more than 40 countries, securing a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum continuously monitors the impact and added value generated by its operations to its stakeholders, who include lenders and shareholders, customers, personnel, suppliers of goods and services, and the public sector. This case study is based on the 2020 Sustainability Report by Fortum, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what […]

The post Case study: How Fortum creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Fortum is a Finnish state-owned energy company with activities in more than 40 countries, securing a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum continuously monitors the impact and added value generated by its operations to its stakeholders, who include lenders and shareholders, customers, personnel, suppliers of goods and services, and the public sector.

This case study is based on the 2020 Sustainability Report by Fortum, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

Fortum seeks to create sustainable value for all its stakeholders  Tweet This! as a trustworthy, value-adding partner. In order to create economic value for its stakeholders Fortum took action to:

  • create economic value for employees and suppliers
  • create economic value for lenders and shareholders
  • create economic value for the public sector

What are the material issues the company has identified?

In its 2020 Sustainability Report Fortum identified a range of material issues, such as energy efficiency, business ethics and compliance, climate change and GHG emissions, employee wellbeing, health and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for Fortum.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Fortum engages with:

Stakeholder Group
Lenders and shareholders
Customers
Personnel
Future talent
Service and goods suppliers
Authorities and decision makers
Media
Energy sector organisations
NGOs
Local communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Fortum engaged with its stakeholders through surveys sent to over 900 representatives of NGOs, customers, public administration, capital markets, research institutes, industry organisations and opinion leaders.

What actions were taken by Fortum to create economic value for its stakeholders?

In its 2020 Sustainability Report Fortum reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees and suppliers
  • In 2020, Fortum spent 1,195 MEUR in employee wages, salaries, remunerations, and other indirect employee costs and 48,699 MEUR in payments to suppliers of raw materials, goods and services.
  • Creating economic value for lenders and shareholders
  • In 2020, Fortum spent 1,081 MEUR in compensation to lenders and shareholders (dividends paid to investors, interest, realised foreign exchange gains and losses, and other financial expenses).
  • Creating economic value for the public sector
  • In 2020, Fortum spent 484 MEUR in income and production taxes paid, support for society and donations.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Fortum, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.fortum.com/files/fortum-sustainability-2020/download?attachment=

Note to Fortum: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Fortum creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Fortum respects and promotes human rights https://sustaincase.com/case-study-how-fortum-respects-and-promotes-human-rights/ Mon, 05 Jul 2021 06:04:50 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12717 Fortum is a Finnish state-owned energy company focusing on the Nordic and Baltic countries, Poland, Russia and India, operating power plants, including co-generation plants, and generating and selling electricity and heat. , which are included in the key human rights treaties. This case study is based on the 2019 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, […]

The post Case study: How Fortum respects and promotes human rights appeared first on SustainCase - Sustainability Magazine.

]]> Fortum is a Finnish state-owned energy company focusing on the Nordic and Baltic countries, Poland, Russia and India, operating power plants, including co-generation plants, and generating and selling electricity and heat. Fortum supports and respects internationally recognised human rights  Tweet This!, which are included in the key human rights treaties.

This case study is based on the 2019 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

Fortum seeks to operate in accordance with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Business Conduct, and to apply these principles in its own operations as well as in country and partner risk assessments and supplier audits. In order to respect and promote human rights Fortum took action to:

  • assess human rights impacts
  • identify human rights risks
  • address human rights-related grievances
  • provide training

What are the material issues the company has identified?

In its 2019 Sustainability Report Fortum identified a range of material issues, such as energy efficiency, business ethics and compliance, customer rights and satisfaction, climate change and GHG emissions, employee wellbeing, health and safety. Among these, respecting and promoting human rights stands out as a key material issue for Fortum.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Fortum engages with:

Stakeholder Group
Lenders and shareholders
Customers
Personnel
Future talent
Service and goods suppliers
Authorities and decision makers
Media
Energy sector organisations
NGOs
Local communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Fortum engaged with its stakeholders through surveys sent to more than 900 representatives of NGOs, customers, public administration, capital markets, research institutes, industry organisations and opinion leaders.

 

Fortum supports and respects internationally recognised human rights, which are included in the key human rights treaties.

What actions were taken by Fortum to respect and promote human rights?

In its 2019 Sustainability Report Fortum reports that it took the following actions for respecting and promoting human rights:

  • Assessing human rights impacts
  • A human rights assessment is part of Fortum’s investment project planning, especially in new operating countries. It is also part of a country and counterparty risk assessment. Depending on the project, Fortum assesses risks based on either public sources or a more in-depth assessment. An assessment based on public sources is always completed for all new countries to which one of Fortum’s business units is planning to sell products or services. In 2019, Fortum performed six such assessments. For investment projects targeting risk countries, Fortum performs an in-depth assessment in which it often uses also external local experts.
  • Identifying human rights risks
  • Fortum defines measures for projects to manage human rights risks to comply with its own requirements and, e.g., with lender requirements. Fortum also aims to support favourable impacts in collaboration with local communities and other stakeholders. All forms of child and forced labour are strictly prohibited and in violation of Fortum’s Code of Conduct and the Supplier Code of Conduct. Fortum has not identified risks related to the use of child or forced labour in its own operations. Fortum’s supplier audits cover the most important human rights aspects related to purchases.
  • Addressing human rights-related grievances
  • Fortum’s internal reporting channels used for reporting any suspected misconduct relating to labour conditions or human rights violations are defined in its Code of Conduct. In addition to internal reporting channels, Fortum has an external “SpeakUp” channel, which is available to all stakeholders. In 2019, there were no grievances related to human rights filed through Fortum’s grievance channels, nor were there any grievances carried over from the previous year. Fortum’s subsidiaries operating in Great Britain published a statement required by the Modern Slavery Act on its website. Fortum supports the principles defined in the Act and condemns practices that are in violation of the Act. Fortum also ensures compliance with its principles and Code of Conduct through internal monitoring and reporting practices and supplier assessments.
  • Providing training
  • The online training on Fortum’s Code of Conduct covers human rights-related issues. The online training is part of the induction programme for new employees, is continuously available to all employees, and the entire personnel undertakes the training in conjunction with the updates of the Code of Conduct. The Supplier Code of Conduct also includes human rights requirements for suppliers and they are addressed as part of the Supplier Code of Conduct training.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 408-1 Operations and suppliers at significant risk for incidents of child labor

2) Disclosure 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor

3) Disclosure 412-1 Operations that have been subject to human rights reviews or impact assessments

4) Disclosure 412-2 Employee training on human rights policies or procedures

5) Disclosure 412-3 Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening

 

Disclosure 408-1 Operations and suppliers at significant risk for incidents of child labor corresponds to:

Disclosure 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor corresponds to:

Disclosure 412-1 Operations that have been subject to human rights reviews or impact assessments does not correspond to any SDG.

Disclosure 412-2 Employee training on human rights policies or procedures does not correspond to any SDG.

Disclosure 412-3 Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening does not correspond to any SDG.

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

1) This case study is based on published information by Fortum, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Fortum: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Fortum respects and promotes human rights appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Fortum protects biodiversity https://sustaincase.com/case-study-how-fortum-protects-biodiversity/ Mon, 10 Jun 2019 07:46:23 +0000 https://ccprowebs.com/new-sustaincase.com/?p=9671 Fortum is a leading clean-energy company that develops and offers solutions for customers in electricity, heating, cooling, and solutions to improve resource efficiency. Seeking to constantly reduce the environmental impacts of its operations, Fortum actively takes part in research activities in the sector and implements voluntary and permit-based measures to develop the biodiversity, fish populations and the multi-use of water systems where it produces hydropower. This case study is based on the 2016 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate […]

The post Case study: How Fortum protects biodiversity appeared first on SustainCase - Sustainability Magazine.

]]> Fortum is a leading clean-energy company that develops and offers solutions for customers in electricity, heating, cooling, and solutions to improve resource efficiency. Seeking to constantly reduce the environmental impacts of its operations, Fortum actively takes part in research activities in the sector and implements voluntary and permit-based measures to develop the biodiversity, fish populations and the multi-use of water systems where it produces hydropower.

This case study is based on the 2016 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing

As the degradation of biodiversity is one of the biggest environmental problems globally, Fortum tries to identify its impacts and dependencies on biodiversity and ecosystem services, and assess the related risks and opportunities.  Tweet This! In order to protect biodiversity Fortum took action to:

  • set biodiversity guidelines
  • restore habitats

What are the material issues the company has identified?

In its 2016 Sustainability Report Fortum identified a range of material issues, such as energy and resource efficiency, customer satisfaction, business ethics and compliance, personnel well-being, operational and occupational safety. Among these, protecting biodiversity stands out as a key material issue for Fortum.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Fortum engages with:

Stakeholder Group
Lenders and shareholders
Customers
Personnel
Service and goods suppliers
Authorities and decision makers
Media
Energy sector organisations
Non-governmental organisations
Local communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics, Fortum conducted a sustainability survey among a total of 2,133 stakeholder representatives.

What actions were taken by Fortum to protect biodiversity?

In its 2016 Sustainability Report Fortum reports that it took the following actions for protecting biodiversity:

  • Setting biodiversity guidelines
  • Fortum’s biodiversity guidelines set the principles for taking biodiversity into consideration and for managing the biodiversity impacts of Fortum’s operations. Since 2014, Fortum has participated in the activities of the Finnish Business & Society’s (FiBS) Business and Biodiversity programme and is also a member of the Bettercoal initiative, using the Bettercoal Code and tools in assessing the sustainability of the coal supply chain. Biodiversity aspects related to coal mining, are covered in Bettercoal assessments. Seeking to minimise its negative impact on biodiversity, Fortum also assesses the impacts of its new projects, offsetting and reducing the impacts of hydropower production on biodiversity by stocking and over-dam transferring fish and through voluntary environmental projects in Sweden. In addition, Fortum annually collects data on the volume of certified wood-based biomass fuel used in its power plants in Finland, Sweden, Poland and the Baltics. Certified wood-based biomass fuel originates from sustainably managed forests, in which special attention is paid to biodiversity.
  • Restoring habitats
  • Most of Fortum’s habitat restorations and other projects improving biodiversity, are related to hydropower production. They include the following:
  • Restoring river stretches by tearing down dams: In Sweden, Fortum has mapped out the old dams that have low value for hydropower production but have environmental impacts 
on riverine ecosystems, to restore habitats and river continuum in places with benefits for biodiversity. In 2016, two such projects were initiated.
  • Enhancing natural reproduction of migratory fish populations: In Finland, a migratory fish project continued in 2016, in cooperation with local stakeholders, at River Oulujoki. Fortum also has hydropower production on the River Oulujoki and, to minimise environmental impacts, transported salmon spawners to the reproduction areas at tributaries, supported the salmon and sea trout population with releases of young fish, and followed up the migratory fish population. Additionally, Fortum started construction of a permanent structure for trapping fish by the Montta hydropower plant, in order to transport them to the reproduction areas upstream.
  • Restoring a wetland: In the River Dalälven area in Sweden, Fortum took part in financing the restoration of a rich wetland, Ambrick, which is partly on Fortum’s property. The area is 23 hectares, hosts different kinds of endangered species of plants, like orchids, and birds, like curlew, and was opened up by clearing small trees and bushes.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 304-3 Habitats protected or restored

Disclosure 304-3 Habitats protected or restored corresponds to:

  • Sustainable Development Goal (SDG) 6: Ensure availability and sustainable management of water and sanitation for all
  • Business theme: Water-related ecosystems and biodiversity
  • Sustainable Development Goal (SDG) 14: Conserve and sustainably use the oceans, seas and marine resources for sustainable development
  • Business theme: Marine biodiversity
  • Sustainable Development Goal (SDG) 15: Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
  • Business theme: Mountain ecosystems, Natural habitat degradation, Terrestrial and inland freshwater ecosystems

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

 

References:

1) This case study is based on published information by Fortum, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) http://www.fbrh.co.uk/en/global-reporting-initiative-gri-g4-guidelines-download-page

3) https://g4.globalreporting.org/Pages/default.aspx

4) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Fortum: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Fortum protects biodiversity appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Fortum promotes sustainable energy production https://sustaincase.com/case-study-how-fortum-promotes-sustainable-energy-production/ Wed, 12 Dec 2018 06:24:20 +0000 https://ccprowebs.com/new-sustaincase.com/?p=8377 As a leading clean-energy company developing and offering solutions for its customers in electricity, heating and cooling, including solutions to improve resource efficiency and services for the power generation industry, This case study is based on the 2016 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. Abstract Abstract Fortum’s know-how in […]

The post Case study: How Fortum promotes sustainable energy production appeared first on SustainCase - Sustainability Magazine.

]]>

As a leading clean-energy company developing and offering solutions for its customers in electricity, heating and cooling, including solutions to improve resource efficiency and services for the power generation industry, Fortum aims to provide customers with environmentally benign products and services, while continuously reducing the environmental impacts of its operations.  Tweet This!

This case study is based on the 2016 Sustainability Report by Fortum published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

Layout 1

Abstract

Fortum’s know-how in carbon dioxide-free hydro and nuclear power production, as well as in energy-efficient combined heat and power production, along with investments in solar and wind power and solutions for sustainable cities, play a key part in the company’s environmental responsibility efforts. In order to promote sustainable energy production Fortum took action to:

  • enhance its energy-efficient production capacity
  • produce energy from waste
  • invest in solar and wind energy

What are the material issues the company has identified?

In its 2016 Sustainability Report Fortum identified a range of material issues, such as customer satisfaction, business ethics and compliance, secure supply of heat and electricity, long-term value and growth, operational and occupational safety. Among these, promoting sustainable energy production stands out as a key material issue for Fortum.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Fortum engages with:

Stakeholder Group
Lenders and shareholders
Customers
Personnel
Service and goods suppliers
Authorities and decision makers
Media
Energy sector organisations
Non-governmental organisations
Local communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Fortum carried out a sustainability survey among 2,133 stakeholder representatives, representing decision makers, organisations, employees and the general public.

What actions were taken by Fortum to promote sustainable energy production?

In its 2016 Sustainability Report Fortum reports that it took the following actions for promoting sustainable energy production:

  • Enhancing Fortum’s energy-efficient production capacity
  • In March 2016, Fortum’s second new CHP (combined heat and power) unit at the Chelyabinsk GRES power plant In Russia was completed. Fuelled by natural gas, the unit’s electricity production capacity is 248 MW and its heat production capacity is 174 MW. In addition, construction of the new multi-fuel CHP plant in Zabrze, Poland continued, with the plant scheduled for completion in 2018.
 In Russia and Poland, Fortum made investments that will improve the efficiency of electricity and heat production and will reduce carbon dioxide and other emissions form produced energy. Moreover, refurbishments of hydropower plants in Sweden and Finland introduced 9 .5 MW of new, renewable electricity production capacity.
  • Producing energy from waste
  • In August 2016, Fortum acquired the Nordic circular economy company Ekokem Corporation. Fortum’s new circular economy business specialises in waste and material treatment, recycling and combustion, final disposal solutions, soil remediation and environmental construction services, and runs hazardous waste treatment and combustion facilities in Finland, Sweden and Denmark. Accordingly, the waste-to-electricity capacity in Riihimäki, Finland, is 18 MW and the heat production capacity 90 MW, in Kumla, Sweden, 9 MW and 35 MW respectively and in Nyborg, Denmark, 16 MW and 19 MW.
  • Investing in solar and wind energy
  • In 2016, Fortum launched two solar energy projects in India, the 70-MW Bhadla solar power plant in Rajasthan and the 100-MW Pavagada solar power plant in Karnataka. In addition, in the Nordic countries, Fortum has been offering its customers solar energy kits. During 2016, Fortum has also been investing actively in wind power. At the Blaiken wind farm, 22 .5 MW of capacity was commissioned, with Fortum’s share of ownership standing at 3 .4 MW.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is:

Disclosure 302-1 Energy consumption within the organization

Disclosure 302-1 Energy consumption within the organization corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

 

References:

1) This case study is based on published information by Fortum, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) http://www.fbrh.co.uk/en/global-reporting-initiative-gri-g4-guidelines-download-page

3) https://g4.globalreporting.org/Pages/default.aspx

4) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Fortum: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Fortum promotes sustainable energy production appeared first on SustainCase - Sustainability Magazine.

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