To support the dialogue with the new MEPs and other stakeholders in Brussels, we published a brochure that outlines our key priorities for the new EU mandate and briefly introduces our company.
Download the brochure
Our priorities for the new EU mandate 2024–2029
As part of our commitment to engaging with stakeholders and providing expert guidance to policymakers, we have released our priorities for the upcoming EU mandate.
Fortum's priorities for the EU mandate 2024–2029
Our key priorities
- Complementing the EU Green Deal with a plan and toolbox to enable European industries to invest in decarbonisation and remain competitive in Europe (Clean Industrial Deal).
- Rethinking security of supply as a way to guarantee the necessary interplay of variable, firm and flexible generation. Security of supply is paramount in providing clean and stable electricity for industries to help them decarbonise their manufacturing processes.
- Continuing the ambitious climate policy: 90% GHG reduction by 2040, including separate targets for emissions reductions and carbon removal.
- Moving from the current subsidy competition between EU countries to EU-level competition and excellence-based financing schemes/de-risking instruments with a focus on strategically important projects (industrial and energy). Utilising all existing EU financing instruments and institutions efficiently.
- Ensuring a level playing field for all net-zero technologies [as listed in the EU Net-Zero Industry Act, NZIA] in the next EU financing framework (MFF 2028-2034).
Fortum White Paper (published in January 2023)
Fortum White Paper proposes several key actions that the next EU Commission should take to foster the development of clean and green industries and to reduce dependency on fossil fuel supplies. The purpose of the Paper is to address Europe’s immediate energy challenges while laying the groundwork for a sustainable and prosperous future, reinforcing Europe’s role as a forerunner in the global clean energy transition.
Summary of our proposed key actions
1. Accelerate industrial decarbonisation
Speed up the process to reduce Europe’s reliance on fossil fuels and external supply chains for critical resources like raw materials and energy.
Make the decarbonisation of industries and industrial processes a top priority.
2. Restore internal market principles and regulatory framework
Ensure a stable and predictable environment for companies to operate and invest in.
Develop regulatory frameworks that provide long-term certainty and support innovative and sustainable investments, including flexible financing instruments for risk sharing.
Phase out various crisis-related market interventions and maintain a level playing field.
3. Invest in electrification and hydrogen economy
Support the large-scale electrification of societies and the development of a hydrogen economy, recognising the contribution of allCO2-free technologies.
4. Set and maintain ambitious climate targets
Maintain high climate ambition (90% CO2 reduction by 2040 and carbon budget for 2030–2050), separate targets for emissions reductions and carbon removals.
Develop pricing mechanism for new sectors (agriculture, waste).
Secure the efficient implementation of 2030 climate targets (FF55).
5. Promote all clean energy technologies to enable a successful energy transition
Develop a comprehensive strategy for hydropower.
Foster European nuclear energy.
Advance clean hydrogen.
Tackle the challenges in wind and solar power production.
Contact us
Merja Paavola
Vice President, Corporate Public Affairs
Tel: +358 50 396 1161
merja [dot] paavola [at] fortum [dot] com
