The Bank of Finland’s sustainability programme focuses on the promotion of sustainable growth, exercise of influence via information and management of climate risks.
In autumn 2019, the Bank of Finland assessed its activities in terms of their social, economic and environmental impacts. The assessment resulted in the creation of a sustainability programme for the Bank. This focuses on the promotion of sustainable growth, exercise of influence via information and management of climate risks. The Bank’s sustainability work is presented on a dedicated website launched in December 2019.
Climate change and financial stability risks call for active engagement
Climate change creates two types of financial stability risks. Extreme weather events cause financial losses, while exit from carbon-intensive business models entails transition risks.
Changes in the economy and markets are reflected in financial stability. For this reason, climate change is a topic closely linked to the activities of central banks.
The Bank of Finland actively raises awareness and promotes dialogue on climate risks and green finance. Green – or sustainable – finance plays a fundamental role in the achievement of energy and climate targets.
Sustainability pervades all of the Bank of Finland’s core functions
The Bank of Finland conducts monetary policy and ensures the functioning and stability of the financial system. The Bank manages its financial assets in accordance with central bank objectives, taking into account responsibility aspects. The performance of the Bank’s tasks involves financial risks, and the Bank prepares for these risks by ensuring the strength of its balance sheet.
In December 2019, the Bank of Finland signed the United Nations Principles for Responsible Investment (PRI). This commitment strengthens the existing practices in responsible investment at the Bank.
The Bank of Finland caters for staff wellbeing
The Bank of Finland is committed to fostering an equal and diverse workplace community. The Bank seeks to offer all employees equal opportunities for career advancement.
The Bank of Finland is a participant in the nationwide ‘Responsible employer’ campaign, aimed at developing working life.