Bank of Finland
Climate impact of Bank of Finland’s activities in 2025
The total combined greenhouse gas emissions of the Bank of Finland and the Financial Supervisory Authority (FIN-FSA) were 13% lower in 2025 than in 2024. Despite this, there was an increase in the emissions from operations due to a refrigerant leakage at the Bank of Finland’s Vantaa premises. Nevertheless, the Bank and the FIN-FSA generate very few greenhouse gas emissions from their own operations. Instead, such emissions occur indirectly along the value chain.
- The greenhouse gas emissions from the activities of the Bank of Finland and the Financial Supervisory Authority (FIN-FSA) are minimal. Most emissions occur indirectly along the value chain.
- Total combined emissions of the Bank of Finland and the FIN-FSA decreased in 2025. The most significant emission sources were business travel and purchased goods and services.
- Value chain emissions also decreased by 20% compared with 2024.
Calculation of Bank of Finland and FIN-FSA carbon footprint for 2025 again followed the GHG Protocol
The Bank and the FIN-FSA have calculated their combined carbon footprint since 2021 using the internationally recognised and standardised Greenhouse Gas (GHG) Protocol guidelines. The calculation of emissions for 2025 did not involve any significant changes from previous years’ calculations.
The GHG Protocol used as the standard for the calculations divides emissions into three categories known as scopes.
Scope 1: these are direct emissions that occur as a result of an organisation’s own operations, and they are usually the easiest to manage.
Scope 2: these are indirect emission sources related to the consumption of purchased energy.
Scope 3: these are emission sources in the organisation’s entire value chain.
The emission sources in the operations of the Bank of Finland and the FIN-FSA (scope 1 and 2) include the fuel consumption of vehicles and equipment owned or leased by the respective organisations, any refrigerant leaks on the premises, and the consumption of purchased energy in the organisations’ workspaces and facilities.
Indirect emissions from the generation of purchased energy (scope 2) relate to the consumption of electricity and heating. These indirect emissions were calculated using a market-based calculation method that accounts for the production methods used by the Bank’s and the FIN-FSA’s energy suppliers.
Overall, the greenhouse gas emissions from the operations of the Bank and the FIN-FSA are minimal. Most emissions from operations occur indirectly along the value chain.
Total combined emissions of the Bank of Finland and the FIN-FSA decreased in 2025
The combined carbon footprint of the Bank of Finland and the FIN-FSA in 2025 was 4,216 tCO2e. This represents a decrease of 16% in total emissions compared with 2024.
The combined emissions from the operations of both organisations (scope 1 and 2) amounted in 2025 to 1,169 tCO2e, a decrease of 13% from the previous year.
However, scope 1 emissions were higher than in 2024, because refrigerant leaks occurred at the Bank of Finland’s Vantaa premises during 2025. Refrigerants have a high climate warming potential, and so even small leaks will increase emissions, which is why refrigerants and refrigerant leaks must be taken into account in any corporate carbon footprint calculation. Occasional small leaks from appliances are nevertheless fairly common.
Scope 2 emissions from energy consumption were down from the previous year as a result of lower energy use. This is partly explained by the persistent efforts of the Bank and the FIN-FSA to improve energy efficiency, but it is also due to variations in weather conditions and related energy needs from one year to the next.
The main premises of the Bank of Finland and the FIN-FSA have a supply contract for renewable electricity. The electricity purchased and consumed on this basis has been 100% renewable energy in the past couple of years.
Emissions in the value chain of the Bank and the FIN-FSA decreased in 2025
No significant changes occurred in the calculation of emissions in the value chain in 2025 compared with the previous year. Most of the emissions from the Bank and the FIN-FSA were generated in the value chain. These scope 3 emissions in 2025 amounted to 3,046 tCO2e, representing 72% of all emissions from operations.
Whatever the sector, it is very common that the majority of a company’s emissions are generated specifically by indirect sources, such as procurements, transportation and business travel.
The Bank’s and the FIN-FSA’s most significant emission sources in the value chain were business travel (811 tCO2e) and purchased goods and services, which generated emissions of 735 tCO2e in their production. Energy consumption by tenants in the Vantaa leased premises also stood out as an emissions source (734 tCO2e).
In all, scope 3 emissions in 2025 were 20% lower than the previous year. The decrease can be explained by the inherent variability between different years and by a reduction in energy consumption by the Vantaa tenants, as there were no significant technical changes in the calculations or, for instance, different procurement policies during the year.
The Bank and the FIN-FSA monitor the environmental impacts of their operations using a metric that incorporates operating costs.
The metric takes account of all the emissions from the Bank and FIN-FSA operations and value chain (scopes 1–3). The 2025 figure for emissions in proportion to operating expenses was 33 kg/tCO2e/EUR 1,000.