Sustainability at the Bank of Finland
A central bank’s sustainability starts with its core functions. Our mission is rooted in the building of sustainable economic stability, thereby fostering the wellbeing of the general public.
The Bank of Finland’s role is to help ensure the level of prices remains stable, payment systems are secure and accessible, and the financial system is reliable. The Bank also has a role in the construction of a socially and ecologically sustainable society.
In addition, the Bank of Finland is committed in its core activities to furthering the United Nations’ sustainable development goals.
The Bank’s sustainability programme focuses on promoting sustainable growth and wellbeing, influencing policy and debate through information provision and active engagement, and managing climate risks.
The Bank reports on implementation of the goals set in the sustainability programme in its Annual Report and Personnel Audit.
Implementation of the sustainability programme is overseen by the joint sustainability network of the Bank of Finland and the Financial Supervisory Authority. The network consists of almost 50 members, and in 2021 it met on a regular basis. The network’s steering group is led by the Bank’s Deputy Governor, Marja Nykänen.
Sustainability at the Bank of Finland: key examples
We set a carbon-neutrality target for our investment portfolio and published the first intermediate targets for our climate roadmap.
We launched a project to calculate the carbon footprint of the corporate loan stock of banks.
We produced a strong balance sheet and transferred EUR 26.3 million of the Bank of Finland’s profit to the State.
We expanded the Bank of Finland Museum’s activities to include a Financial Literacy Centre.
Our carbon footprint calculation method amended in line with the Greenhouse Gas Protocol1 enables a more accurate emissions calculation and brings additional identified emissions sources.
We are safeguarding access to cash and cash availability and will continue to do so in the future.
The Bank of Finland was chosen as one of the most inspiring workplaces in 2021.2