The Bank of Finland has signed the UN Principles for Responsible Investment (PRI) and in so doing we have committed to recognising environmental, social and corporate governance (ESG) issues in our investment practices.
‘We are strengthening our practices in responsible investment at the Bank of Finland. In signing the Principles for Responsible Investment we commit to incorporating the various responsibility factors in our investment processes as well as ownership policies and practices,’ stated Member of the Board Tuomas Välimäki. The Bank of Finland also commits to reporting progress in responsible investment.
Responsible investment is a key part of the Bank of Finland's sustainability programme that was published today. The foundations of the Bank of Finland's sustainability lie in our core activities. The Bank's task is to contribute to ensuring price stability, the reliability of the financial system and security and inclusion in the context of payment systems. By executing these duties in line with our statutory objectives, the Bank of Finland serves Finnish society in the best possible way.
The Bank of Finland plays a role in building a society that is socially and ecologically sustainable. In our activities, we recognise the expectations of stakeholders and changes in the operating environment. In the immediate years ahead, our sustainability programme will focus on sustainable growth and promotion of wellbeing, exercise of influence via information and cooperation as well as management of climate risks. The Bank of Finland's activities will be guided broadly from the perspective of sustainability, and the impacts of activities will be assessed based on our sustainability objectives.
The implementation of the sustainability programme will be guided by the joint sustainability network of the Bank of Finland and the Financial Supervisory Authority, established in October 2019. ’Sustainability themes, for example the management of climate risks, require authorities to adopt a new approach. National and international cooperation are increasingly important in sustainability action,’ emphasised the Bank’s Deputy Governor Marja Nykänen.
For further information, please contact:
Marja Nykänen, Deputy Governor (Head of the sustainability network), tel. +358 9 183 2007.
Tuomas Välimäki, Member of the Board (responsible for Bank of Finland investment activities), tel. +358 9 183 2005.
The PRI is a global network for investors and financial sector entities that have committed to incorporating the Principles in their investment practices. Further information: www.unpri.org.