At Finnvera, sustainability and corporate responsibility are an integral part of everyday work. Through its operations, Finnvera contributes to the success of the whole of Finland by promoting new enterprises, the growth and exports.

A responsible and sustainable financier

The aspects of Finnvera’s sustainability are environmental and social responsibility, good governance, financial responsibility and risk management. In particular, efforts and goals to mitigate climate change have been highlighted as part of Finnvera’s strategy.

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. 

Climate target and measures to mitigate climate change

In our climate strategy, the measures are grouped into six areas: encouraging, measuring, managing risks, limiting, influencing and competence. 



Measures and goals

Finnvera's Carbon footprint

Finnvera has set itself the strategic objective of introducing more detailed identification, measurement and reporting of the climate impacts of its financing operations. The development of the emission calculations continued in 2023, and more data were collected on individual projects. The more detailed data indicated that Finnvera's emissions from financing operations decreased by 35% compared to the previously reported.

  • Finnvera's carbon footprint in total was 5.8 Mt CO2 e. Majority of the carbon footprint came from the financed projects.
  • Emissions from Finnvera's own operations were 549 t CO2e.
Finnvera's carbon footprint 2021–2022, t CO2e20222021Change %
Scope 1, Fuels4280-47%
Scope 2, Electricity, district heating and cooling*104359-71%
Scope 35,832,9159,042,275-35%
     Category 1: Purchased Goods and Services35 83-58%
Category 2: Capital Goods23 100%
     Category 3: Fuel production and energy transmission losses53 22 139%
Category 5: Waste management47 -86%
Category 6: Business Travel275 25 1,019%
Category 7: Employee commuting11 21 -48%
Category 15: Financed emissions5,832,512 9,042,077 -35%
Carbon footprint in total*5,833,061 9,042,714-35%
* The market-based electricity and district heating coefficient used in the calculation.

A detailed description of carbon footprint calculation can be found in Finnvera's emission calculation document (in Finnish).

Based on the emission calculations, Finnvera will develop its long-term emission pathways in 2024. The emission pathways will be used to measure Finnvera’s climate change mitigation measures and assess their compatibility with the Paris Agreement. 

Around one half of Finnvera’s outstanding commitments relate to ship financing. Finnvera calculated the emissions from this sector for the third time in keeping with the Poseidon Principles initiative.

Of the exposure for export financing related to energy production, the shares of renewable and fossil energy are monitored.

Solutions for sustainable financing

Finnvera has defined its climate target, developed sector­specific criteria for export projects for identifying climate­positive aspects, and launched financing incentives for climate­friendly export projects and investments. It is important that Finnish businesses can play a role in solving the challenges posed by climate change. 

Social responsibility at Finnvera

A skilled personnel are a key success factor for Finnvera's work. Finnvera makes inputs in developing the professional skills and wellbeing of our personnel in many ways, and our HR management is based on an open reward scheme, systematic competence management and taking care of our employer image. 

In addition to our own employees, issues related to the working conditions and terms of employment of workers in projects we finance play an important role in Finnvera’s social responsibility. This is why assessing the social impacts and risks of the projects is an important part of financing decisions. The UN Guiding Principles on Business and Human Rights (UNGP), IFC’s Performance Standards on Environmental and Social Sustainability, and any other requirements imposed by Finnvera are taken into account when assessing financing projects.

Financial responsibility and risk management

One of the cornerstones of our operations is a long-term self-sustainability, which we ensure through controlled risk-taking.

We develop and enhance risk management and risk transfer methods for large exposure and risk concentrations. We are constantly developing risk management methods to meet the changed requirements of the operating environment.

We are integrating climate change risks into our key financing decisions and risk management.

With Finnvera's ISO 9001 certified operating system, we ensure comprehensive quality control.

Sustainable Investment Principles

For the improvement of sustainability and corporate responsibility, Finnvera introduced a framework for sustainable investments in treasury investments. By the end of year 2023, green, social and sustainable bonds covered approximately 18% of the long-term investments. Out of these thematic investments 75% were green bonds.

Take a look at Finnvera's principles for sustainable investment.

Impact and corporate responsibility

Corporate responsibility and impact are interlinked in Finnvera's strategy. Responsibility is the basis and impact the spearhead of the strategy. It means that our financing helps clients generate and obtain turnover, financial profit and jobs that would not have been possible otherwise. We seek new ways to measure impact better.

Finnvera has an important social role in facilitating and augmenting Finnish enterprise activities. Through export solutions, Finnvera also contributes to the exports of Finnish know-how abroad. 

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. 



Good governance and management of corporate responsibility

Good corporate governance and risk management are highlighted in Finnvera's strategy. The Finnvera Group strives to ensure transparency at all levels of the organisation. 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. At Finnvera, implementation of corporate responsibility is monitored by the Management Group. Responsibility for this is vested in the Board of Directors and the CEO. Management of corporate responsibility is also defined in Code of 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 can be found at the Code of Conduct -page.


Finnvera’s network of stakeholders is wide. Finnvera has identified the following as its most important stakeholders: clients, banks and cooperation partners, Team Finland organisations, domestic and international organisations, personnel, state owner and investors.

We keep a close eye on similar organisations in other countries and develop our financial services in step with the changing needs of Finnish companies.



The EU Corporate Sustainability Reporting Directive (CSRD) does not apply to Finnvera under national legislation. Despite this, the company has sought to improve its CSRD reporting capabilities step by step as Finnvera's stakeholders, including clients and banks, will be within the scope of EU sustainability reporting in the next few years. 

In 2023, Finnvera carried out a materiality assessment of its corporate responsibility in keeping with the double materiality principle laid down in the CSRD for the first time. The sustainability themes prioritised as a result of the analysis will lay the foundation for Finnvera's sustainability reporting from 2024 onwards. 

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