In the coming years, Finnish companies will invest significantly in the opportunities provided by the green transition. This opinion is shared by 70 per cent of the large companies in Finland who responded to OP's Corporate Pulse survey. 

Companies want the state to support green investments. To compete in an increasingly competitive international market, 54 per cent of companies in Finland wanted a more proactive industrial policy from the government, such as by providing business support. 

“The green transition is a significant opportunity for Finland to create green exports, but international competition for green investment is tough. The availability of clean energy in Finland and Sweden is one of the most attractive preconditions for foreign investment,” says Katja Keitaanniemi, President and CEO of OP Corporate Bank.

Environmental themes such as climate and emissions reduction targets continue to be underlined in the agenda of large companies. However, the need to solve and develop social responsibility themes is more prominent than before. According to the OP Corporate Pulse survey, the largest investments in responsibility will target equality, emissions reductions and responsibility reporting in the coming years. 

The green transition will require significant investment – OP Financial Group will participate in the Finland Pavilion at the United Nations Climate Conference

Demand for green funding has rapidly increased among large companies. 38 per cent of the large companies in Finland responding to the survey say they are prioritising green financing in their operations. Demand for green financing has continued to increase this year at OP as well: OP’s commitment portfolio for sustainable financing increased in January–June 2023 by 16 per cent from the previous year to a total of 6.0 billion euros.

Players in the financial sector play an important role with investors and consumers as enablers of the green transition.

“The green transition requires extensive investment in Finland and globally. Public financing is insufficient for implementing the green transition, which is why private financing is also required. As the leading provider of corporate loans in Finland, OP Financial Group plays a significant role in channelling finance to investments that support the green transition. The sector-specific emissions reduction targets we published in August will direct our customers towards a carbon neutral economy,” says Katja Keitaanniemi.

OP Financial Group will participate with the leading companies of various sectors at the United Nations Climate Conference held in Dubai between 30 October and 12 December 2023 and can be found in the Finland Pavilion.

“Participating in the largest climate conference of the year will give us the opportunity to promote Finland’s role as a solution-oriented and innovative country, and as a green transition accelerator,” says Keitaanniemi.

A total of 100 Finnish companies and 100 Swedish companies with net sales of at least 100 million euros responded to OP's Corporate Pulse survey, which was commissioned by OP Financial Group and implemented by Taloustutkimus Oy. The survey was conducted by phone in July–August 2023.