Climate criteria for export financing

Finnvera makes use of climate criteria to assess and identify the climate-positive features of the projects that it finances.

Assessing a project’s sustainability with climate criteria

As part of our financing activities, we are actively seeking ways to channel more financing to projects with positive climate impacts, while reducing the share of projects that could potentially harm the climate.

We survey the implementation of our climate criteria and the climate-positive features of financed projects as part of each financing project's environmental and social risk assessment.  

A project that meets our climate criteria can benefit from Finnvera’s sustainable financing incentives and receive more favourable terms for its financing.

If a project fails to meet our climate criteria, it will still be eligible for financing after the financing decision has been assessed in accordance with Finnvera’s general risk and credit policy.

Our climate criteria for different sectors

Our approach to each sector is the same: as part of all major export financing projects, we examine whether the export company or its end-customer makes use of science-based emission reduction targets (SBTi) in their operations, in accordance with the Paris Agreement. 

Finnvera has also defined its climate criteria for the most essential sectors for its export financing. These sectors differ in many ways, and they are subject to different sustainability frameworks. Our climate criteria make use of key international frameworks, and we will update our criteria as these frameworks continue to develop. 

Sectors that we cannot finance

Finnvera’s financing is suitable for most sectors, but some sectors are excluded either due to the legislation governing Finnvera’s operations or Finnvera's own policies.

Read more about Finnvera’s sustainability targets

In accordance with our strategy, we are a responsible financing provider, and our operations are grounded in risk-based assessments and internationally respected standards. We have set goals to mitigate climate change, and we measure and report on the climate impacts of our financing operations and other activities. 

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