- Climate change is one of the most significant problems in our society that needs to be solved. On the Zero Emissions Day, we encourage our personnel to take action to tackle climate change. We also give tips to our customers on how to monitor their consumption, says Kati Ihamäki, Head of CSR.
Alongside with the Zero Emissions Day, OP is continuously working to curb climate change. Our target is a positive carbon handprint by 2025. We aim to achieve this by increasing our energy efficiency and utilising renewable energy and by providing our customers with the opportunity to decrease their emissions.
The greenhouse gas emissions from OP’s own operations (Scopes 1+2) totalled 19,613 CO2e-tonnes in 2018, or 1.63 tonnes per person. Our emissions have decreased by 44 percent since 2011. The main reasons for this were our move to new, energy-efficient offices and an increase in the use of renewable energy. Solar panels generate energy on the roofs of OP Vallila, Pohjola Hospitals and of properties built by OP Property Management, for example. As an environmental facilities management tool, OP uses the Green Office system of WWF Finland.
- The financial sector plays a significant role in moving towards a sustainable economy that takes climate aspects into account. Through investments and through products and services provided to customers, we can encourage our customers to take into account climate change when they make decisions on financing, insurance and investment. And, of course, we recommend everyone to do their transactions digitally, says Kati Ihamäki, Head of CSR.
Our biggest effects result from our other indirect emissions. We have continuously decreased our emissions resulting from waste from our operations, acquired products and services, business trips and commuting. This work will continue.
One example of sustainable economy investments is OP Corporate Bank plc’s first Green Bond, issued in February 2019. This year, OP Property Management achieved its energy savings target, 7.5 percent, ahead of schedule as part of the action plan of RAKLI (the Finnish Association of Building Owners and Construction Clients). As a forerunner of responsible investment, OP excludes carbon producers and users in active OP funds that make direct investments. We influence listed companies that emit greenhouse gases most in the world as part of our Climate Action 100+ engagement programme for institutional investors. OP and Finnfund will also establish Finland’s first fund investing in emerging markets, OP Finnfund Global Impact Fund I. The fund will seek systematic and measurable impact, primarily in projects concerning sustainable agriculture and forestry, renewable energy and financial institutions. In cooperation with LeaseGreen, we provide our customers with energy renovations that reduce housing companies’ heating costs by 50 percent and cut the carbon footprint of heating by approximately 60 percent. In non-life insurance, OP seeks to reduce risks of losses caused by climate change. For example, extreme weather conditions, such as storms and floods, can already be seen in daily non-life insurance operations.
In 2018, OP became a member of the Climate Leadership Coalition (CLC), which aims to influence Finland's readiness to respond to climate change and is responsible for coordinating the Zero Emissions Day in Finland. Follow updates concerning the day on social media: #nollapäästöpäivä #ZeroEmissionsDay.