Fortum's CEO on 3Q Earnings, Climate Change, Investment Strategy

The transcript covers various aspects of a company's operations, including the impact of weather and climate change on quarterly performance, business structure and investments, M&A activity in the industry, operations in Russia, and the volatility of energy and carbon prices. The company emphasizes the importance of reducing CO2 emissions and supports strong carbon pricing as a tool for decarbonization.

What factors contributed to the company's operational challenges in the third quarter?

• Stable weather conditions

• Increased demand for hydro power

• Low CO2 prices

• High volatility in power and commodity prices

How does the company view the impact of climate change on their business?

• They are indifferent to climate change

• They think it only affects other industries

• They are extremely concerned and see it affecting operations

• They believe it has no impact

What is the company's current relationship with Uniper?

• Competitive and adversarial

• Non-existent

• Unstable and uncertain

• Stable with plans for operational cooperation

What trend is expected in the M&A activities within the European utilities sector?

• A decrease in activities

• An increase in activities with a focus on scale

• A shift towards smaller transactions

• No change in activities

How has the company's Russian division performed recently?

• It remained stagnant

• It had the best operational performance

• It has underperformed compared to other divisions

• It faced significant losses

What is the company's strategy in Russia regarding CO2 exposure?

• Focusing solely on fossil fuels

• Reducing CO2 exposure through renewables

• Increasing CO2 emissions

• Ignoring CO2 regulations

What is the company's stance on carbon pricing?

• They oppose any form of carbon pricing

• They support strong carbon markets to drive decarbonization

• They believe carbon pricing is irrelevant

• They think carbon pricing should be abolished