Annual Report 2014 | Suomeksi |

Stakeholder collaboration

Our way of operating responsibly includes continuously identifying the views of our stakeholders and finding a balance between the different expectations our stakeholders have. Dialogue, feedback and good collaboration are key ways to promoting a mutual understanding with our stakeholders.

Management of stakeholder collaboration at Fortum is assigned to a number of functions, particularly to communications, corporate relations, human resources, and

sustainability, and to electricity and heat sales, as well as several expert areas. We have increased dialogue with our stakeholders also through social media channels in all countries where we operate.

Responsibilities for managing stakeholder collaboration are primarily determined by stakeholder group or interaction theme. Key interaction areas, e.g. corporate relations, and corporate and customer communications, have annual plans that guide the activities.

Fortum has an informal Advisory Council consisting of representatives of Fortum’s stakeholder groups as invited by the Board of Directors. The Advisory Council aims to increase the dialogue and the exchange of views between the company and its stakeholders.

We report openly about dialogue with our stakeholders and the impacts of our operations. Our main stakeholders include

shareholders, investors, analysts, customers, personnel, authorities and decision makers, and the media. Our other important stakeholder groups are suppliers of goods and services, energy sector organisations and non-governmental organisations. We regularly monitor and assess the public discussion in the countries where we operate.

Information through surveys

In collaboration with third parties, we conduct annually several surveys regarding stakeholder collaboration. The aim of these surveys is to help Fortum assess and respond to the important stakeholder groups’ expectations of the company. The surveys also measure the success of our stakeholder collaboration. Additionally, the surveys provide information about emerging sustainability trends and risks.

We use the survey results in business planning and development. The feedback received from customers guides

the development of products and services. Additionally, our activities in national and international organisations help to deepen our understanding of, for example, global sustainability issues and their connections to our business.

Survey Target groups Target countries Frequency
One Fortum Customers Finland, Sweden, Norway, Annually
Public administration Poland, the Baltic countries,
Capital markets Russia
Opinion leaders
EPSI customer Electricitysales Finland, Sweden, Norway Annually
satisfaction customers
PR‑barometer Media Finland, Sweden, Poland, Annually
the Baltic countries, Russia
Media tracking Media All operating countries Daily
Student surveys Students Finland, Sweden Employer surveys by T‑Media and
Universum and Uratie survey by
Talentum in Finland in 2014.
Employer survey by Universum in Sweden.

Social media

Fortum's social media presence is primarily country-specific, and there are some differences in the use of the social media services between our operating countries. Facebook and Twitter are our main social media channels. Additionally, we use other services, like LinkedIn, YouTube and blogs.

We use Facebook to engage in a dialogue with our customers and the general public about Fortum and about topical issues related to the energy sector. We also use Facebook to communicate with our customers in power and district heat outages. We use Twitter to communicate and for engaging in a dialogue with our customers, the general public, the media, organisations and opinion leaders, and other companies. On Twitter, we discuss topics related to Fortum's current activities and topical new issues in the energy sector. We have also used Twitter to communicate with customers about power and heat outages.

Stakeholder surveys

We use the extensive One Fortum survey and the EPSI customer satisfaction survey to annually measure customer and stakeholder satisfaction as well as changes in the company’s reputation and the factors that impact it.

The One Fortum survey covers customers, public adminstration, capital markets, non-governmental organisations and opinion leaders as well as Fortum’s personnel.

In 2014, as in the previous year, we conducted the survey in Finland, Sweden, Norway, Poland, the Baltic countries and Russia. For the Power Solutions business area, the survey also covered customers in Germany and Great Britain. In Finland and Sweden, we also surveyed the views of the general public.

As part of the One Fortum survey, we conducted a

separate sustainability survey targeting the same stakeholder groups; the goal was to find out what our stakeholders consider to be the most important sustainability areas. A total of 3,431 stakeholder representatives responded to the One Fortum survey; 1,074 of them represented the personnel. A total of 1,720 stakeholder representatives responded to the separate sustainability survey; 985 of them represented the personnel.

The EPSI customer satisfaction surveys measures customer satisfaction in Finland, Sweden and Norway.

The survey results are reviewed by Fortum’s top management and are used for business planning and development. In 2014, Fortum’s reputation and customer satisfaction were also part of the Group’s sustainability target setting, and reputation among the general public, customers and personnel was also part of the long-term incentive (LTI) system.

We use the results from the One Fortum survey, the sustainability survey and the EPSI customer survey as well as other stakeholder surveys to assess materiality of sustainability issues, and to define the content of our sustainability reporting.

Our reputation is stable and customers increasingly more satisfied

Our reputation among the most important stakeholders has remained stable, and, despite a small decrease, it is still the strongest among our stakeholders operating in the capital markets. Our reputation among public sector representatives improved for the third consecutive year.

Our reputation improved among all stakeholders in Finland, particularly among customers. Customer satisfaction improved most in our heat business. Satisfaction among electricity distribution’s private customers decreased slightly, but increased among business customers in all market areas.

The Power Solutions business area’s customers continued to be very satisfied and are now more loyal and more willing to recommend Fortum.

Our reputation continues to be weakest among the general public. The score decreased from 2013 as our reputation in Sweden weakened. Opinion leaders and NGOs have a more positive attitude towards Fortum than before.

Business operations and social responsibility are factors that have the biggest impact on reputation. Customer orientation and employer image also have a significant impact. As in the previous year, Fortum’s leadership, operations and financial performance were given high scores. The scores for customer orientation and social responsibility remained lower than in the other main factors for reputation, and are important development targets in 2015.

Customer loyalty grows the customer base

The international and independent EPSI Rating annually surveys the level of satisfaction of electricity retail company customers in Finland, Sweden and Norway. Based on the 2014 EPSI survey, the general customer satisfaction in the electricity sector remained on the same level in Finland compared to 2013, decreased slightly in Sweden, and improved in Norway. Fortum’s customer satisfaction improved in Finland and Norway, but decreased in Sweden.

According to the EPSI survey, Fortum’s customer loyalty in Finland improved more than that of any other electricity company. Customer loyalty and customer willingness to recommend Fortum also contributed to the growth in the customer base. Furthermore, the customer assessment of Fortum's product and service quality improved.

Safe operations and risk management of interest to stakeholders

In the separate sustainability survey for stakeholders, decision makers, opinion leaders, NGOs and investors raised sustainability-related risk management as the most important area. The general public and Fortum’s own personnel emphasised the safety of operations. Fortum’s personnel also put a high value on occupational safety and a healthy work environment.

Climate change mitigation and the related use of renewable fuels were also considered important by decision makers, opinion leaders, NGOs and the general public. The overwhelmingly most important issue for the general public was security of supply of electricity and heat.

The issues considered least important by decision makers, opinion leaders, NGOs and the general public were related to


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