Climate transition plan

The climate crisis is one of the most pressing challenges of our time, with extreme weather events impacting people, ecosystems, and economies around the world. To prevent reaching critical tipping points, it is vital to limit global warming to 1.5°C*. This requires halving global greenhouse gas emissions by 2030 and achieving net-zero emissions by 2050.
* The IPCC sixth assessment report

For Vattenfall, net-zero means at least a 90% reduction in absolute emissions and neutralising any outstanding emissions. We have set science-based targets for 2030 and 2040 to transition away from fossil fuels and align our business with the requirements to limit global warming to 1.5°C.

Meeting this goal demands collective efforts from all sectors of society. Moreover, it requires a fundamental transformation in the way we produce and consume energy – a journey we call the energy transition. Phasing out fossil fuels and accelerating the shift to fossil-free energy and electrification are key in this transition.

Decarbonising – which means reducing carbon emissions – in our operations and supporting our customers, while expanding fossil-free electricity generation and distribution at scale, are the most impactful ways we can contribute to the energy transition and combat climate change. At the same time, we are committed to ensuring that our transformation delivers benefits for society, local communities, and biodiversity.

Transitioning our business

Vattenfall has already made significant progress in reducing emissions in line with our existing targets. Emissions have been reduced by 53% since the base year 2017, excluding the effect of divestments. Since the divestment of Heat Berlin in May 2024, we no longer have any coal-related activities in any market.

Vattenfall is committed to transitioning towards fossil-free alternatives for the production of heat and electricity in our own operations. Additionally, we support our customers by offering fossil-free solutions. We invest in fossil-free energy generation, such as wind, and use our position to drive decarbonisation with our partners and customers throughout our value chain.

Our roadmap to net-zero by 2040 highlights our key decarbonisation levers, designed to adapt to shifts in technology, markets, and policy. For Vattenfall, this requires a dual approach of decarbonising our own operations and supply chain, while simultaneously investing in solutions for a fossil-free energy system. Moving forward, we must: 

• Secure a fossil-free energy supply
  Reducing emissions in line with the 1.5°C target and adding fossil free generation capacity through capacity upgrades, new investments, and partnerships. 
• Connect and optimise the energy system
  As decarbonisation accelerates, we increasingly need to balance intermittent sources like wind and solar, while connecting new consumption and generation driven by electrification in a flexible way. 
• Drive decarbonisation with our customers and partners
  Beyond supplying fossil-free energy, we collaborate with suppliers, customers, and partners to accelerate decarbonisation across society.

Read more on page 92 in our Annual and sustainability report (PDF 12 MB)

With these actions, we are adapting our business in accordance with what is required to limit global warming to 1.5 °C in line with the Paris Agreement. This ambition is supported and verified by the science-based net-zero target for 2040 and intermediate targets for 2030.