Fortum/Uniper: no plan in sight to get out of fossil fuels

Fortum/Uniper is criticized for having an inadequate coal exit strategy and increasing its dependence on gas, while continuing to receive significant financial support from major banks and investors, including French institutions like BNP Paribas and Société Générale.

• Fortum/Uniper's coal exit strategy is deemed non-credible because it lacks detail, maintains coal-fired power plants in the EU until 2038, and has no planned exit dates for the Berezovskaya and Apatitskaya plants in Russia.
• The company is increasing its reliance on fossil gas by planning to triple its LNG portfolio, develop two new gas-fired power plants in Germany, and increase gas-fired generation capacity by 2035.
• Fortum/Uniper maintains a significant presence in Russia with 12 gas-fired and combined cycle power plants totaling 15 GW of capacity, and has increased its Russian gas supplies since the start of the war in Ukraine.
• The company's transition to renewables is minimal, with solar and wind power accounting for less than 1% of its electricity production in 2021.
• Major French financial institutions continue to provide substantial support to Fortum/Uniper; BNP Paribas provided $939.99 million in banking support and $139.84 million as an investor between January 2019 and November 2021, while Société Générale provided $231.24 million in banking and $143.32 million as an investor.

APA

admin (2022). Fortum/Uniper: no plan in sight to get out of fossil fuels. Reclaim Finance. https://reclaimfinance.org/site/en/2022/03/25/fortum-uniper-no-plan-in-sight-to-get-out-of-fossil-fuels/

Chicago

admin. Fortum/Uniper: no plan in sight to get out of fossil fuels. Reclaim Finance, 2022. https://reclaimfinance.org/site/en/2022/03/25/fortum-uniper-no-plan-in-sight-to-get-out-of-fossil-fuels/.

Wikipedia

{{cite press release |last1=admin |title=Fortum/Uniper: no plan in sight to get out of fossil fuels |publisher=Reclaim Finance |date=25 March 2022 |url=https://reclaimfinance.org/site/en/2022/03/25/fortum-uniper-no-plan-in-sight-to-get-out-of-fossil-fuels/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2022fortumuniper, author = {admin}, title = {{Fortum/Uniper: no plan in sight to get out of fossil fuels}}, publisher = {Reclaim Finance}, year = {2022}, month = mar, url = {https://reclaimfinance.org/site/en/2022/03/25/fortum-uniper-no-plan-in-sight-to-get-out-of-fossil-fuels/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }