The Bank of Finland updated its strategic priorities in 2022 in response to the rapidly altered economic and security situation in Finland and Europe.

The Bank of Finland is Finland’s monetary authority and national central bank. It is also a member of the euro area’s central banking system, the Eurosystem.

The Bank’s mission is to foster a sustainable economy and promote stability, and it pursues this with the aid of its strategy and supported by purposeful economic governance and prudent human resources planning.

Rapid changes occurred in the economic and security environment in Finland and Europe during 2022 as a result of Russia’s war in Ukraine, the heightened geopolitical tensions and surging inflation. These changes also affected central bank activities. The Bank of Finland responded by updating its strategic priorities.

Bank of Finland reduced its carbon footprint in 2022

For the second year in succession, the Bank of Finland, in 2022, reduced its carbon footprint by following the recommendations of the international Greenhouse Gas (GHG) Protocol. The Bank also further developed its emissions calculations during the year to match more closely its activities and those of the FIN-FSA.

With a more focused calculation method and through specific emissions reduction measures, the Bank succeeded in reducing its carbon footprint in 2022. 

The specific emissions reduction measures included updating the Bank’s car benefit policy and cutting emissions from energy consumption through, for example, reduced lighting, air conditioning adjustments and replacement of some external glazing with more energy efficient materials.

Data Balance Sheet highlights the importance of data in the work of the Bank of Finland

The Bank of Finland’s 2022 Data Balance Sheet will be published in April 2023 as a separate report augmenting the Annual Report.

The Data Balance Sheet is a key part of the Bank of Finland’s information management reporting. Its purpose is to highlight the importance of data, information and knowledge to the work of the central bank, and to describe the operating environment for these at the Bank.

The Data Balance Sheet looks at some fundamentals of information management at the Bank of Finland from different perspectives, as well as topics of current relevance for information management, data security and data protection. It also presents facts and figures concerning central bank functions, information management and analytical work.