The Green Finance Framework allows Fortum to raise capital via green bonds and loans (Green Debt) to refinance and finance renewable energy and energy efficiency projects, and/or nuclear power projects. Fortum will always inform at issuance if it intends to finance any nuclear power generation projects with the proceeds of a given Green Debt instrument. Projects financed by Green Debt may include fixed assets, capital expenditures and/or operational expenditures (including R&D expenditures).
In its new strategy launched in March 2023, Fortum brought forward its target to reach carbon neutrality (Scopes 1, 2, 3) already by 2030 and the goal to exit all coal already by the end of 2027. Fortum also set ambitious biodiversity targets and has committed to set emission reduction targets based on the climate science (SBTi 1.5°C).
Second party opinion
Danske Bank has acted as an adviser on the establishment of Fortum’s Green Finance Framework and Sustainalytics has provided a second-party opinion confirming the framework’s alignment with the International Capital Market Association’s (ICMA) Green Bond Principles 2021 and the Green Loan Principles 2023 administered by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA).
Download the documents
Fortum Green Finance Framework
Sustainalytics second-party opinion Fortum Green Finance Framework
Disclaimer
Morningstar Sustainalytics, a globally-recognized provider of ESG research, ratings and data, evaluated Fortum’s Framework and the alignment thereof with relevant industry standards and provided views on the robustness and credibility of the Framework. In no event the Second-Party Opinion nor any portion thereof shall be construed as part of the offering, nor shall be considered as an offer or advertisement to buy a security, solicitation of votes or proxies, investment advice, expert opinion or negative assurance letter as defined by the applicable legislation.