Fortum takes aim at Scope 3 emissions
SUMMARY
On natural gas, Fortum has said it views the fuel as critical for supporting increased deployment of intermittent renewables.
By Joseph MurphyPOSTED IN:
Finnish energy group Fortum and its German subsidiary Uniper have set a target to cut their Scope 3 indirect emissions by 35% by 2035, using the level in 2021 as a baseline, they said on December 20.
The latest commitment builds on Fortum's commitment to cut its Scope 1 and 2 CO2 emissions by at least 50% by 2030, using the 2019 level as the baseline, and bring them down to net zero by 2035 at the earliest. It is targeting neutrality in Scope 1, 2 and 3 emissions by 2050.
"Building on our strategy, we drive the energy transition to enable decarbonisation and secure supply of energy. Our Scope 3 emission target reflects this: a gradual shift from fossil fuels to low and no-carbon energy and fuels," Fortum's senior vice president for corporate affairs, safety and sustainability, Nebahat Albayrak, said. "We will take measures together with our partners, including choosing suitable producers with optimal carbon footprints."
Fortum said it was addressing its environmental impact by investing more in renewables but also clean gas, energy storage and other existing flexible solutions.
Fortum bought a majority stake in Uniper in March 2020. Together, the two companies represent the EU's third largest producer of CO2-free electricity, and they plan to expand this generation further.
Fortum is looking to add 1.5-2.0 GW of wind and solar power capacity, mostly in Europe, in addition to 3.4 GW of wind and solar capacity it is looking to build with its partners in Russia. It also intends to phase out or exit about 8 GW of coal-fired generation by the end of this decade.
On natural gas, Fortum has said it views the fuel as critical for supporting increased deployment of intermittent renewables, by providing reliable baseload capacity that is cleaner than coal-fired generation.
