News / 14.3.2024

Helen makes a historical emissions reduction in 2023

Helen’s greenhouse gas emissions were reduced by 38% last year compared to the previous year. The significant reduction in emissions is mainly attributable to the closure of the Hanasaari power plant in April 2023 and the resulting considerable decrease in the use of coal. The emissions reduction is not negligible at the national level either as, in its final years, Hanasaari produced about 2% of Finland’s emissions.

Helen’s direct greenhouse gas emissions were 1.66 million tCO2e in 2023. In 2022, the corresponding emissions were 2.68 million tCO2e. This information is available in Helen Group’s Annual Review 2023. The emission figures have been assured by an independent party.

“The 38% emissions reduction concretises our large-scale investments, which we have made in the green transition over the last years. The next significant step towards our emissions reduction targets is the closure of the coal-burning Salmisaari power plant in April 2025. Before that, we will be introducing, among other things, several electric boilers and an industrial-sized air-to-water heat pump plant, which uses environmental heat,” says Timo Aaltonen, SVP, Heating and cooling.

In 2022, Helen became the first Finnish energy company to receive approval for the emissions reduction targets from the Science Based Targets initiative (SBTi). The targets are based on a scientific calculation method, which aims to ensure consistency with the Paris Agreement’s target of limiting global warming to below 1.5°C. By 2030, we are committed to reducing

  • our Scope 1 and Scope 2 greenhouse gas emissions by 77% on the 2019 level, per MWh of electricity and heat produced
  • our Scope 1 and Scope 3 greenhouse gas emissions by 77% on the 2019 level, per MWh of electricity and heat sold

As a result of the closure of the Hanasaari power plant, we deployed new heat sources to replace it, such as the seventh and last heat pump at the Katri Vala heat pump plant. We invested EUR 421 million in carbon-neutral energy in 2023 and, at the end of the year, 55% of our energy production was carbon neutral.

By 2025, we will build over 2,000 megawatts of renewable production capacity to replace fossil energy production. By that same year, we will abandon the use of coal. Our electricity production already consists mainly of wind, solar, hydro and nuclear power. In heat production, we are constantly increasing the use of sustainable bioenergy, electric boilers and heat pumps utilising waste and environmental heat. We have set a target of making our energy production carbon neutral by 2030. Additionally, we plan to phase out combustion-based energy production by 2040.

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Heating Carbon neutrality Helen