Vattenfall’s Annual and Sustainability Report 2023: Continued work for fossil freedom

Vattenfall’s Annual and Sustainability Report for 2023 contains a special focus on offshore wind and new nuclear power – necessary factors for the energy transition as well as Vattenfall’s continued work for fossil freedom.

The demand for fossil-free energy increased during 2023, and the targets for the energy transition have never been higher. However, the required build-out is not keeping pace. Investments need to multiply and the right incentives for those affected by the necessary new infrastructure must be developed.

Vattenfall is committed to building a future where everyone can choose fossil-free ways to move, make, and live. In 2023, we accelerated progress towards our goal – from the inauguration of the Hollandse Kust Zuid wind farm to helping Bristol in the UK decarbonise through a citywide district heating network.

In 2024, we will continue to leverage our existing business and the opportunities the energy transition will give us.

“I truly believe that the energy transition is a possibility and that we as a society, with full respect for the complexity, should act together now to make it happen. Vattenfall is ready to do our part,” says Vattenfall’s CEO and President Anna Borg.

Some facts from the Annual and Sustainability Report 2023:

  • 500,000 new customers have chosen Vattenfall.
  • CO2 emissions from our own operations has been reduced by 56 percent between 2017 and 2023.
  • 37 billion was invested, of which 89 percent was eligible and aligned with the EU taxonomy regulation. Wind power accounted for 54 percent of the investments, the electricity grid 19 percent and nuclear power 5 percent.
  • The capacity of fossil free electricity is now 5.4 GW, an increase by 2.1 GW since 2017.

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