Corporate governance

Well-defined and transparent corporate governance provides a structure for responsible, value-oriented performance and supervisory functions of the company. Corporate governance is an imperative that works for the benefit of Fortum's shareholders, financial markets, business partners, employees and the public. The Board of Directors and the President and CEO's responsibility for the administration and management of the company is regulated in the Finnish Companies Act, which the Finnish Corporate Governance Code supplements.

Corporate Governance Statement

Fortum Corporation's shares (FORTUM) have been listed on Nasdaq Helsinki since 18 December 1998. Fortum's industrial sector, according to the Global Industry Classification Standard, is Electric Utilities. The State of Finland is the majority owner in Fortum with 51.26% of the shares as of 31 December 2022.

Corporate governance at Fortum is based on Finnish laws and the company’s Articles of Association. Fortum complies fully with and has prepared this corporate governance statement in accordance with the Finnish Corporate Governance Code 2020, which is available on the website of the Securities Market Association.

The corporate governance statement is issued separately from the operating and financial review, and it has been reviewed by the Audit and Risk Committee of Fortum's Board of Directors. Fortum Governance 2022.

The Company’s operating and financial review and the parent company financial statements are prepared in accordance with the Finnish Companies Act, Accounting Act, Securities Markets Act, and the opinions and guidelines of the Finnish Accounting Board. The consolidated financial statements are also published in accordance with the European Single Electronic Format (ESEF) reporting requirement. The Company’s external auditor, Deloitte Oy, has provided an independent auditor’s reasonable assurance report on Fortum’s ESEF financial statements in accordance with ISAE 3000 (Revised). The auditor’s report covers the consolidated financial statements and the parent company financial statements.

Fortum's Corporate Governance Statements

See the statements in the archive