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

To support the dialogue with the new MEPs and other stakeholders in Brussels, we have published our key priorities for the new EU mandate: 
 

1. Enabling European industry to decarbonise while enhancing competitiveness

  • Industrial decarbonisation and electrification should be central to the Clean Industrial Deal. Upcoming initiatives, including the Electrification Action Plan and the European Competitiveness Fund, must align with the EU’s ambition to become a climate-neutral continent by 2050. 
  • To enhance Europe’s competitiveness, high-impact industrial and energy investments should be supported through strategic, excellence-based funding and de-risking instruments.

2. Ensuring security of supply through a balanced energy mix

  • For industries to successfully decarbonise, access to clean, stable, and competitive electricity is essential.
  • Europe must reduce reliance on fossil fuels and external supply chains for critical resources such as raw materials and energy.

3. Properly implementing the Fit-for-55 package and advancing climate ambitions

  • We support 90% reduction in greenhouse gas (GHG) emissions by 2040, with distinct targets for emission reductions and carbon removal.
  • Policy developments should sustain a robust, market-based EU emissions trading system as the central driver of decarbonisation.

4. Transitioning from a subsidy race to excellence-based, EU-level funding with a focus on technology neutrality in the next Multiannual Financial Framework

  • The next MFF (2028–2034) and its Competitiveness Fund should ensure support for all technologies critical to EU energy and material autonomy, as identified in EU legislation such as the Net-Zero Industry Act. 
  • Funding applications should be simplified and evaluated based on project quality and real impact.

Download as pdf

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.

Download here

Contact us

Merja Paavola

Vice President, Corporate Public Affairs
Tel: +358 50 396 1161
merja [dot] paavola [at] fortum [dot] com

Sara Viitanen

EU Manager
Tel: +358 50 535 5591
sara [dot] viitanen [at] fortum [dot] com