Climate action
We are driving the transition towards a fossil-free energy system.
Vattenfall is working for fossil freedom. Our ambition to be a leader in the climate transition is embedded in our strategy and business model. This means aligning and adapting our business in accordance with what is required to limit global warming to 1.5 °C in line with the Paris Agreement.
This requires a dual approach of decarbonising our own operations, customers and supply chain, while simultaneously investing in solutions for a fossil-free energy system.
Transitioning our business
The climate transition is integrated into our business planning processes and operations through clear steering and governance. This includes ambitious decarbonisation targets, environmental policies, procurement guidelines and more.
Climate transition plan
Our goal is to help society break free from its dependency on fossil fuels, and we are committed to building a future where everyone can choose fossil-free ways to move, make and live.
To transition our business, a full value chain approach is needed:
Suppliers
- Collaborating with suppliers to find low-carbon product solutions and materials
- Establishing partnerships to decarbonise industries through electrification
Own operations
- Decarbonising own operations in line with 1.5 °C
- Investing in new fossil-free energy capacity and supporting infrastructure
Customers
- Collaborating with customers to implement fossil-free solutions such as green gas, heat pumps and e-mobility
- Generating, distributing and selling fossil-free energy
Examples of our progress
- –56% absolute emissions in the value chain since 2017
- ~90% of installed electricity generation capacity is fossil free (>20 000 MW)
- ~90% of electricity sales is fossil free (100% in Sweden)
- 0% coal in own operations
Climate change adaptation
Climate change affects Vattenfall – through physical effects on our assets and operations, for example from extreme weather events, or through changes associated with the transition to a fossil-free society. Adapting to these changes is a way to ensure safe operations and security of supply. This also enables us to secure a resilient business and capture future opportunities.
Our focus areas for climate change adaptation:
- Strengthen the long-term perspective in risk identification and assessment.
- Continuously work to strengthen grids and infrastructure to increase preparedness.
- Explicitly include climate change aspects (risks and opportunities) early in decision-making, especially for new investments and asset builds.
Related content
We are working with customers and partners to enable fossil freedom.
Vattenfall is phasing out fossil production and investing in renewables.
We are forming partnerships in different fields and industries to reach climate goals.