Annual and sustainability report

Vattenfall supports task force on climate-related company information

Vattenfall becomes even more transparent on climate performance towards investors and customers.

Stakeholders are increasingly expecting companies to focus more on climate when setting their targets, and that they identify climate-related risks and opportunities in relation to their business.

Vattenfall is already far on this journey with its purpose of enabling fossil-free living within one generation and its clear strategy towards this target. Supporting the Task Force on Climate-related Financial Disclosures (TCFD) is a way to acknowledge the importance of the financial community in this transformation. The purpose of TCFD is to help companies disclose useful information that enables the financial markets to better understand climate-related financial risks and opportunities of potential investments. The EU is considering to integrate the TCFD framework into its future regulations.

Risks and opportunities

Companies need to be transparent with challenges linked to climate change. The better companies disclose, the easier it will be to identify common denominators, open up for partnerships, secure climate-smart investments and avoid climate-related risks. Fighting climate change also offers many new business opportunities within for instance e-mobility and partnerships with companies in sectors such as steel and cement - opportunities Vattenfall is actively pursuing.

“Climate-related information is important for investors and transparency about risks and opportunities for our business resulting from climate change is fundamental.  Supporting the TCFD is therefore a natural step for Vattenfall,” says Vattenfall’s Head of Investor Relations, Johan Sahlqvist.

Weather events and climate change mitigation

The World Economic Forum has again this year ranked extreme weather events and failure of climate-change mitigation and adaptation as the world’s largest risks and therefore a natural concern for the financial sector, when investing in companies. Climate change is not only a threat for communities in form of natural disasters such as drought, storms, floods and so, but also has a significant impact on business operations in those communities.


For leaders surveyed for the latest edition of the World Economic Forum's Global Risks Report, environmental threats dominate the list for the third year in row - both in terms of impact and likelihood

Vattenfall is already now reporting climate-related information to the CDP (Carbon Disclosure Project) that is the largest data hub for corporate climate information globally, containing information on how well cities, regions and companies are dealing with climate change. CDP has more than 7000 companies voluntarily reporting data and is already integrating the TCFD recommendations into its climate-change questionnaire.


Vattenfall’s Head of Environment, Helle Herk-Hansen, explains:

“Vattenfall has disclosed its climate performance for many years through the CDP and has successfully climbed up the ladder in how well we do this. The last two years, we have received a so-called leadership ranking which is well above industry average. One reason for this is our clear purpose and the fact that we drive significant CO2 reduction initiatives within own business and in sector partnerships. Being transparent in our climate risks and opportunities is important for our relationship with financial stakeholders, but it is also something that is to an increasing degree taken into consideration by our large customers and partners. Adding the commitment to TCFD is putting an additional layer to our transparency in climate-related matters”.

See also

Sunny side up! The Tützpatz solar farm in north eastern Germany will co-exist with sustainable farming such as organic free-range egg production and could look like this AI generated image.

A place in the sun: Tützpatz combines solar and farming

In the north east corner of Germany, Vattenfall has started the construction of the country’s largest agrivoltaic project to date, Tützpatz. The design of the 79 MW project makes it possible...

Read the full article
Merlin chick at Ray wind farm

Britain’s smallest bird of prey continues to thrive at Ray wind farm

With only 1000 pairs in the UK, the merlin is red listed in the country. One of the habitats where the bird has successfully bred is Vattenfall’s Ray wind farm in north-eastern England.

Read the full article
Sonar image. Photo: Oscar Bos
Photo: Oscar Bos

New artificial reefs bring new life to Hollandse Kust Zuid

Nine artificial reefs were deployed during the construction of the Hollandse Kust Zuid (HKZ) offshore wind farm. Two years on, it’s time for a first stock-take.

Read the full article