Nordic Impact supported Kemijoki Oy in developing its climate transition plan
Kemijoki Oy, Finland’s leading producer of hydropower and balancing power, developed its first climate transition plan in collaboration with Nordic Impact. The project applied best practices from the ESRS E1 Climate Change standard under the EU Corporate Sustainability Reporting Directive (CSRD), particularly the requirements concerning climate transition plans (E1-1). Kemijoki Oy developed the plan voluntarily, without a legal obligation to do so.
The objective of the project was to align Kemijoki Oy’s climate targets and operations with the Paris Agreement’s 1.5°C goal. Nordic Impact modelled different emission reduction scenarios, taking into account both the company’s own emission reduction measures and the impacts of the wider societal green transition. The assessment covered the company’s direct emissions (Scope 1), emissions from purchased energy (Scope 2), and the most significant value chain emissions (Scope 3) identified through greenhouse gas emissions accounting.
To support the prioritisation of emission reduction measures, Nordic Impact organised workshops with Kemijoki Oy’s management. The workshops evaluated potential measures based on their emission reduction potential, costs, feasibility, and suitability for achieving the company’s climate targets.
As a result of the collaboration, Kemijoki Oy established an absolute, science-based near-term climate target for 2030, covering emissions from both its own operations and its value chain. The plan included a concrete list of emission reduction measures to achieve the near-term target, as well as the most impactful emission reduction measures identified for the longer term.
The climate transition plan provides a foundation for implementing and monitoring the company’s climate targets. It also supports Kemijoki Oy’s sustainability reporting and strengthens its readiness for potential future reporting under ESRS E1.
Kemijoki Oy is Finland’s leading producer of hydropower and balancing power. The company owns 20 hydropower plants in the Kemijoki, Lieksanjoki and Kymijoki river systems and generated approximately one-third of Finland’s hydropower production in 2024. Hydropower provides balancing power that helps manage fluctuations in wind and solar power generation and enhances the stability of the electricity system. The company is headquartered in Rovaniemi, Finland. Learn more about Kemijoki Oy at kemijoki.fi.