Holistic view of sustainable development

Vattenfall takes an active role in sustainable development of society by helping shape energy solutions for the future. Such solutions must include consideration for the environment, customers, employees and society at large.

Vattenfall’s ambition is to meet society’s energy needs in a responsible manner. The guiding principle in this endeavour is that meeting the needs of the present may not compromise the ability of future generations to meet their needs.

Access to energy is a prerequisite for a well-working society and sustainable development. At the same time, all energy generation has an impact on the environment. Determining what is an acceptable impact must be done in dialogue with society within the framework of rules and market mechanisms. Vattenfall believes that market-based solutions are the best way of striking a balance between diverging interests. A well-thought-out rule system is needed to achieve fair conditions and arrive at shared goals and ambitions.

Holistic view important

Vattenfall underscores the importance of taking a holistic view to sustainable development, which is an ongoing process involving economics, the environment and society. Naturally, Vattenfall must be successful in all these areas, but financial strength is a prerequisite for the company’s ability to achieve true success in the areas of society and the environment.

In its efforts to create long-term value, Vattenfall has adopted five strategic ambitions: Number One for the Customer, Number One for the Environment, Profitable Growth, Benchmark for the Industry, and Employer of Choice. These five strategic ambitions are Vattenfall’s interpretation of and contribution to sustainable development - both for society and for the company. Vattenfall is striving to live up to all five ambitions, and by striking a balance between them, the company is taking its social responsibility. Value creation makes it possible to invest in sustainability, while access to energy is a prerequisite for sustainable development.

Vattenfall’s CSR report

Every year Vattenfall publishes a separate Corporate Social Responsibility (CSR) report. In its work on environmental and social responsibility, Vattenfall puts great emphasis on listening and communicating. The CSR report is therefore an important tool for carrying on a dialogue with people in the company’s operating environment on how it is living up to the expectations that are put on it as an energy company and on its role in society. The report describes important sustainability issues and how they are being addressed. The 2008 report focuses on future challenges: Vattenfall’s planned electricity generation portfolio for 2030 and the path forward, the current investment in the coal-fired power plant in Hamburg (Moorburg), potential technologies for reducing emissions, greater effectiveness in nuclear fuel utilisation, and the work on diversity from a human resources perspective.

Since 2003 Vattenfall’s CSR report has adhered to the guidelines of the Global Reporting Initiative (GRI). These guidelines consist of a set of indicators that measure the company’s impact on the environment, society and the economy. The GRI is an independent institution whose mission is to develop and disseminate sustainability reporting guidelines on a global basis. These guidelines are voluntary and are currently used by approximately 1,000 companies around the world. Starting in 2008, all state-owned companies in Sweden are required to publish an annual sustainability report based on the GRI guidelines.

For more information, visit www.vattenfall.com/csr (new window).

Vattenfall’s 2008 CSR report focuses on future challenges, such as Vattenfall’s planned electricity generation portfolio for 2030 and the roadmap for achieving this, the impending investment in the coal-fired plant in Hamburg (Moorburg), possible technologies for reducing emissions, increased efficiency in nuclear power utilisation, and the work on diversity from a human resources perspective.