Sustainability

A responsible and sustainable financier

Finnvera is a responsible provider of financing whose operations rely on risk-based assessment and internationally recognized standards. Sustainability has been integrated into the company’s strategy and decision-making. The sustainability strategy focuses on the following areas:

Finnvera promotes climate change mitigation, biodiversity and the management of human rights risks by setting targets and reporting openly on the impacts of its operations.
Finnvera promotes good governance, ensures overall quality control, and develops its operations to meet the requirements of the Financial Supervisory Authority.
In cooperation with the owner, Finnvera engages in controlled risk-taking and risk management to ensure long-term economic self-sustainability and the adequacy of reserves to secure the continuity of operations.

These areas encompass Finnvera’s material impacts, risks and opportunities identified in our materiality analysis.

Finnvera's most significant environmental and climate impacts arise from export financing projects. Emission-intensive industries that also consume a large volume of natural resources predominate in Finnish exports. On the other hand, Finnish state-of-the-art technology can also help reduce the environmental load of projects.

Finnvera sustainability statement

Finnvera reports annually on the management of material sustainability impacts, risks and opportunities, including climate change, biodiversity, human rights, access to finance, human capital and business ethics. Detailed information on Finnvera’s sustainability targets, performance indicators, results and progress is presented in the annual Sustainability Statement.

Finnvera’s sustainability statement is prepared with reference to the revised European Sustainability Reporting Standards (ESRS) compliant with the Corporate Sustainability Reporting Directive (CSRD). While Finland’s national legislation does not oblige Finnvera to submit sustainability statements, the company has decided to improve its CSRD compliant reporting capabilities following guidelines agreed upon with the Ministry of Economic Affairs and Employment. Finnvera aims to develop reporting in line with EU sustainability reporting in the financial years 2025–2027, where applicable. Finnvera's sustainability reporting is based on the double materiality principle.

Sustainability governance and management responsibilities at Finnvera

Finnvera's Board of Directors has ultimate responsibility for sustainability governance and oversees the company's sustainability strategy, sustainability-related risks and opportunities, sustainability targets, and sustainability reporting. The Board's Audit Committee and Risk Committee support the Board in overseeing sustainability reporting, internal controls and the management of environmental, social and governance (ESG) risks.

The CEO and Management Group are responsible for implementing Finnvera's sustainability strategy and integrating sustainability priorities into day-to-day business activities. The Management Group ensures that sustainability commitments, regulatory requirements and stakeholder expectations are reflected in business planning, financing operations, risk management and corporate governance practices. Finnvera has assigned specific sustainability responsibilities to members of the Management Group to strengthen accountability, enhance sustainability oversight and support transparent governance.

The CEO has overall executive responsibility for sustainability at Finnvera. The CEO is accountable for implementing Finnvera's strategy, ensuring the achievement of sustainability objectives within business operations and promoting the integration of sustainability considerations throughout the organization. The CEO approves long-term sustainability plans and strategic priorities and oversees compliance with sustainability-related regulations, internal policies and governance requirements. The CEO also reports sustainability-related developments and performance to the Board of Directors.

The CFO is responsible for sustainability reporting and sustainability-related data governance. The CFO ensures that sustainability disclosures are prepared in accordance with regulatory requirements and stakeholder expectations and are integrated with Finnvera's broader reporting framework. The CFO also oversees the development of reporting processes, sustainability information management and the monitoring of financial resilience supporting the long-term sustainability of Finnvera's operations.

The Chief Risk Officer is responsible for the integration of sustainability risks into Finnvera's risk management framework. This includes oversight of climate-related and other sustainability risks, ensuring that sustainability risks are identified, assessed, monitored and managed in accordance with applicable requirements. The Chief Risk Officer also oversees climate stress testing and supports the development of risk metrics and methodologies related to ESG risk management.

Business Unit Leaders are responsible for integrating sustainability risks and opportunities into financing activities and financing decisions. They oversee environmental and social risk assessments, sustainability due diligence and the implementation of sustainability requirements within their respective business areas. Business Unit Leaders ensure that sustainability-related considerations are incorporated into investment, financing and risk management processes in accordance with Finnvera's policies, practices and sustainability commitments.

The Head of Communications and Human Resources oversees diversity, equity and inclusion, responsible leadership, employee competence development and employee well-being. This responsibility includes promoting an inclusive workplace culture, strengthening sustainability-related competencies and ensuring that human capital considerations are integrated into leadership and people management practices.

The Head of Administration is responsible for overseeing business ethics, compliance, anti-corruption measures, whistleblowing mechanisms, internal controls and good governance practices. This responsibility includes monitoring compliance with policies and regulations, promoting ethical conduct and strengthening governance processes that support transparency, accountability and sustainable business practices.

Climate

Finnvera has set a long-term climate target for its operations: promoting the attainment of the Paris Climate Agreement goal of limiting global warming to 1.5 degrees. Finnvera is also committed to the goals and reporting principles of the Net-Zero Export Credit Agencies (NZECA) for its operations as a whole and Poseidon Principles for ship financing.

Finnvera manages transition risks with its fossil fuel exclusion policy. Support may only be granted under well-defined conditions consistent with the goals of the Paris Agreement. Finnvera's sustainable investment principles guide company's investment operations

Finnvera has prepared a climate roadmap to mitigate climate change. The Climate roadmap describes Finnvera’s actions in six different areas: encouraging, measuring, managing risks, limiting, advocacy and competence.

Detailed performance metrics, targets and progress tracking are presented in the sustainability statement.

Biodiversity

Finnvera updated its environmental and social risk management policy (ES policy) to give biodiversity a larger role. Finnvera’s roadmap on biodiversity and biodiversity loss management guides Finnvera's work. As set out in the roadmap, Finnvera is currently examining the biodiversity impacts and dependencies of its operations in detail. These studies, accumulated data and modelling tools will be used to determine the future strategic objectives and transition pathway.

Human rights

Finnvera has prepared a Human rights roadmap as presented for managing the human rights impacts of its operations. Finnvera uses systematic processes to manage risk affecting workers in the value chain and local communities. Finnvera uses its in-house expert staff and, if necessary, external experts and risk tools (including country classifications). Finnvera also participates actively in OECD expert groups, which ensure that best practices and peer information are used.

Financial responsibility and risk management

Finnvera integrates environmental, social and governance (ESG) considerations into its financing processes and risk management framework. Through its approach to environmental and social risk assessment, Finnvera seeks to support responsible business conduct, sustainable economic growth and sound risk management while enhancing companies’ opportunities to access financing.

The Finnvera environmental and social risk management process for export financing is risk-based and covers all export financing products, including both corporate and project finance products. Elevated transaction-specific risks require a more comprehensive due diligence process and more detailed environmental and social requirements. Read more about our process: ES risk management in Finnvera’s export financing operations

All of the incoming SME financing applications are assessed using a structured ESG assessment model where potential environmental, social and governance risks are identified, evaluated and monitored.

Relationship managers review available ESG-related information and assess the adequacy of a company’s sustainability practices and risk management measures. Where material ESG risks are identified, additional due diligence may be performed with support from sustainability and KYC specialists to ensure that relevant risks and mitigation measures are appropriately considered.

This process supports the systematic integration of ESG risk management into financing decisions and promotes consistent assessment practices across Finnvera’s financing activities.

Solutions for sustainable financing

Finnvera has defined its climate target, developed sector specific criteria for export projects for identifying climate positive aspects and launched financing incentives for climate-friendly export projects and investments. It is important that Finnish businesses can play a role in solving the challenges posed by climate change. Read more about Finnvera's solutions for sustainable financing.

Finnvera strives to actively channel financing to projects that have positive climate impacts while reducing the share of projects that harm the climate. Sector-specific criteria for identifying climate positive features are applied to export financing projects. These criteria are based on internationally recognised frameworks of reference, including the EU taxonomy and Climate Bond Initiative (CBI) criteria. Projects that meet the criteria may be eligible for Finnvera’s financing incentives aimed at promoting Finland’s low-emission technology exports.

Projects with positive climate impacts in the SME sector are supported with climate and digital loans introduced in 2023. These loans, which are part of the European Commission's InvestEU programme, are provided in cooperation with the European Investment Fund.

Sustainability is also addressed in Finnvera's investment operations as one of the sustainable investment principles. The target for the investment operations of Finnvera's Asset Management in 2025 was that 25% to 30% of long-term investments are thematic investments that meet the meet the ESG criteria specified in Finnvera's investment principles. At the end of 2025, long-term thematic investments that met the ESG criteria accounted for 24.6%. Slightly less than two thirds of them were green bonds. Take a look at Finnvera's principles for sustainable investment.

Finnvera as a responsible employer

At Finnvera, our success is built on skilled, engaged and motivated employees. We are committed to providing a safe, inclusive and supportive working environment where employees can perform meaningful work, develop professionally and build long-term careers. Human capital development is a key element of our sustainability approach and supports the long-term success and resilience of our organisation.

Employee well-being is a strategic priority at Finnvera. We take a proactive approach to occupational health, well-being and work ability through an early support model that helps address well-being, workload or work capacity challenges at an early stage in cooperation with occupational health services. All employees are covered by comprehensive occupational healthcare and a broad range of well-being services.

Finnvera maintains a zero-tolerance approach to inappropriate behaviour, harassment, discrimination and misconduct. Employees have access to a confidential whistleblowing channel through which concerns regarding misconduct, unethical behaviour or potential compliance violations can be reported safely. All reports are handled confidentially and in accordance with established governance and investigation procedures.

Regular employee dialogue is an essential part of Finnvera's people management practices. We conduct a comprehensive employee engagement survey every two years, complemented by one to two pulse surveys annually. These surveys provide insights into employee engagement, well-being, leadership effectiveness and workplace culture.

The results are actively used to strengthen organisational development, leadership practices and team performance. This approach supports continuous improvement and helps ensure that employee feedback is embedded in decision-making and people management processes.

Finnvera supports continuous learning and professional development throughout the employee lifecycle. Competence development, training, internal mobility and career progression are integral elements of our personnel strategy. During 2025, 30 employees moved to new roles within the organization, demonstrating our commitment to internal career opportunities and talent development.

We systematically develop employee capabilities to meet both current and future business needs and seek to ensure that employees have opportunities to expand their responsibilities and advance their careers. Succession planning for senior leadership positions is reviewed annually and monitored regularly by the Board of Directors.

Our leadership approach is based on coaching, continuous dialogue and employee development. In addition to annual goal-setting and development discussions, every employee participates in at least eight structured one-to-one coaching discussions with their manager each year. Our objective is to create an environment where employees can succeed, develop and build sustainable careers at Finnvera.

Finnvera offers competitive employee benefits designed to support well-being, work-life balance and employee engagement. These include comprehensive occupational healthcare services and a range of employee benefits through the Edenred programme.

Flexible hybrid working arrangements and working time flexibility help employees balance professional and personal responsibilities while supporting productivity and well-being.

Finnvera combines socially significant expert work with continuous learning and a strong values-based culture. We work collaboratively, responsibly and proactively to support Finnish businesses and promote sustainable economic growth.

Our goal is to be a responsible employer where employees can thrive, develop professionally and find purpose in their work. By investing in our people, we also strengthen our ability to fulfil Finnvera's mission as Finland's specialist financing company and a promoter of sustainable business growth.

Access to finance

Finnvera’s statutory mission is to complement private financial markets and improve access to finance for Finnish businesses. As a specialized financing company owned by the State of Finland, Finnvera participates in financing projects that may not have sufficient access to market-based financing, even where the company and the project are commercially viable.

Access to finance can be constrained by factors such as a company’s stage of development, growth ambitions, limited collateral, the risk profile of an investment, or financing needs related to ownership transitions. In these situations, Finnvera helps bridge financing gaps by sharing risks with banks and other financial institutions, thereby enabling viable business projects to proceed when commercial financing alone is insufficient.

Through its financing activities, Finnvera contributes to financial inclusion within the business sector, promotes entrepreneurship and supports sustainable economic growth across Finland. By expanding access to finance for underserved but commercially viable businesses, Finnvera seeks to create positive economic and societal outcomes while supporting the long-term competitiveness of the Finnish economy.

Finnvera provides information on financing opportunities and access to finance

In addition to financing, Finnvera helps companies grow, invest and expand internationally by sharing information, offering expert advice and helping businesses make the most of available financing solutions. Through thousands of customer and stakeholder interactions every year, we provide information on financing opportunities and help businesses find solutions for growth, ownership changes and export financing.

Finnvera operates in the financial sector as a provider of financing for businesses, which means attention is often focused solely on the volume of financing we provide. In addition to financing, however, we actively share our expertise by offering guidance to help Finnish companies invest, grow, export, and expand internationally.

Information on financial markets and Finnvera’s financing solutions is shared in all customer and stakeholder interactions, which amount to several thousand meetings and events each year.

Finnvera’s loan complements the financing market

Finnvera offers a Loan for Microenterprise Growth designed to complement the financing market. It is intended for businesses entered in the Trade Register that employ fewer than ten people and have a comprehensive plan for profitable business operations, but have not been able to secure financing for their project from a bank or another commercial financier.

The loan amount ranges from EUR 20,000 to EUR 50,000 and can be used for new investments and development measures that go beyond normal business operations and improve the company’s growth, productivity or competitiveness.

Finnvera is expanding access to finance through a broader financing partner network

In line with its mission to improve financing availability and complement private markets Finnvera has expanded its cooperation network to include a wider range of financing providers. Finnvera currently collaborates not only with banks and insurance companies, but also with other domestic and international financing providers operating in Finland.

New cooperation partnerships have been established with organisations such as Alisa Bank, SME Bank, Multitude Bank, GOS Private Debt and the Nordic Investment Bank. In addition, discussions are ongoing with several other financing providers to further broaden financing opportunities for Finnish companies.

This development increases financial inclusion by giving companies access to a broader range of financing channels. Different financiers serve different customer segments, business models and financing needs. By enabling Finnvera guarantees to be used through a wider variety of financing partners, companies that may not fit traditional banking models can gain improved access to financing for investments, growth, ownership transfers and internationalisation.

Good governance and sustainability management

Good corporate governance and risk management are highlighted in Finnvera's strategy. The Finnvera Group strives to ensure transparency at all levels of the organization. Finnvera implements its mission and strategy in accordance with the laws, regulations, and industrial policy goals guiding the company’s operations.

Finnvera has a Code of Conduct that covers the main principles and practices of good conduct. In export financing operations, we follow international rules on export financing and are actively involved in international development and cooperation. We comply with international principles and recommendations related to corporate responsibility, and Finnvera has its own Environmental and social risk management policy.

The most important policies related to Finnvera’s financing operations:

A responsible and sustainable financier

Finnvera sustainability statement

Sustainability governance and management responsibilities at Finnvera

Chief Executive Officer

Chief Financial Officer

Chief Risk Officer

Business unit leadership

Human capital, diversity and inclusion

Business ethics and corporate governance

Climate

Biodiversity

Human rights

Financial responsibility and risk management

Environmental and social risk management in export financing activities

Environmental and social risk management in domestic financing activities

Solutions for sustainable financing

Sustainable financing in export projects

Sustainable financing in domestic financing

Sustainable investment principles

Finnvera as a responsible employer

Employee well-being and a safe working environment

Employee engagement and continuous improvement

Human capital development and career growth

Employee benefits

Meaningful work and corporate culture

Access to finance

Finnvera provides information on financing opportunities and access to finance

Finnvera’s loan complements the financing market

Finnvera is expanding access to finance through a broader financing partner network

Good governance and sustainability management