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Commitments and policies

Our business is guided by good banking and insurance practices. We comply with all applicable laws, standards and regulations, upholding the principles of honesty and fairness. OP Financial Group's operations are governed by legislation such as the Act on the Amalgamation of Deposit Banks, the Act on Cooperative Banks and Other Cooperative Institutions, the Act on Credit Institutions, the Insurance Companies Act, the Act on Investment Services, the Co-operatives Act and the Limited Liability Companies Act. Other central guidelines are OP Financial Group's governance principles, OP Financial Group's corporate responsibility policies, UN Principles of Responsible Banking, UN Global Compact Initiative Principles, Principles of good banking, and the sustainability program of OP.

OP Financial Group also respects its employee’s unionising rights, and all our employees have the freedom of association. OP Financial Group has established The Code of Business Ethics containing corporate responsibility and environmental principles, which all those employed by OP Financial Group must observe.

OP Financial Group is committed to the Paris Agreement, which aims to hold the increase in the global average temperature well below 2°C above pre-industrial levels and to limit the rise in temperatures to 1.5°C above pre-industrial levels. OP Financial Group’s objective is to build a sustainable economy together with its customers. Our other commitments complement our commitment to the Paris Agreement.


The CDP Climate Change and Water initiatives have been signed by both OP Asset Management Ltd and OP Fund Management Company Ltd. The CDP initiative signatory investors encourage companies to report their impact on climate and their water usage in a better way.
In autumn 2021, OP Asset Management Ltd joined CDP’s Science-Based Targets campaign, aimed at promoting climate action by urging companies to set science-based carbon reduction targets based on the Paris Agreement. 

Signatory investors of the Climate Action 100+ influence those listed companies that are the world’s largest greenhouse gas emitters. OP Asset Management is a signatory member.

In 2021, OP Real Estate Asset Management joined Global Real Estate Sustainability Benchmark (GRESB). 

OP Asset Management is a part of the IPDD Initiative, which was begun in 2020 with a focus on countering deforestation. The IPDD seeks to ensure long-term financial sustainability of investments in the countries invested in, by promoting sustainable land use and forest management and respect for human rights.

The ILO Declaration on Fundamental Principles and Rights at Work is an expression of commitment to uphold basic human values - values that are vital to our social and economic lives. It affirms the obligations and commitments that are inherent in membership of the ILO, namely freedom of association and the effective recognition of the right to collective bargaining, the elimination of all forms of forced or compulsory labour. the effective abolition of child labour. the elimination of discrimination in respect of employment and occupation, and a safe and healthy working environment.

OP Financial Group is a signatory member of The Montreal Pledge, which encourages investors to report the carbon footprint of their investments.

OP Asset Management Ltd and OP Real Estate Asset Management Ltd joined the international Net Zero Asset Managers Initiative, reinforcing their public pledge of carbon neutrality by 2050 or earlier. NZAM provides a clear framework of reference for setting goals and reporting.

OP Real Estate Asset Management signed the Net Zero Carbon Buildings Commitment of the World Green Building Council in 2020.

The PBAF aims to develop a common standard for biodiversity metrics for financial institutions. OP Financial Group joined in January 2024 PBAF as a partner.

Partnership for Carbon Accounting Financials aims to develop and implement a harmonised approach to assessing and disclosing greenhouse gas emissions associated with partners’ loans and investments. OP Financial Group became a signatory member of PCAF in July 2022.

The Task Force on Climate-related Financial Disclosures has drawn up recommendations on how companies should report on the economic impacts of climate change on their business. Identifying and analysing drivers of change in the business environment forms part of the risk identification procedure. In the continuous risk identification process, Risk Management and representatives of internal stakeholders assess any risks – such as climate change and the ageing population – that might have a direct impact on OP Financial Group’s business activities in the short term and/ or the business environment in the longer term, and thereby affect OP Financial Group’s business activities.

The environmental management of OP Financial Group’s offices is based on the WWF Green Office system. The WWF Green Office environmental management system helps workplace reduce its carbon footprint and use natural resources sustainably.

In 2011, OP Financial Group signed the UN Global Compact initiative and undertook to comply with the ten principles in the areas of human rights, labour, the environment, and anti-corruption. The Global Compact principles form part of all our new supplier agreements. Compliance with the principles is also visible in our personnel: our employees are committed to complying with the principles of good business practice and participating in CR training. 

OP joined Climate Ambition Accelerator programme in June 2022. It is an accelerator programme led by the UN Global Compact designed to equip companies with the knowledge and skills they need to accelerate progress towards setting science-based emissions reduction targets aligned with the 1.5℃ pathway, setting them on a path towards net- zero emissions by 2050.

OP Financial Group became a Founding Signatory of the Principles for Responsible Banking under the United Nations Environment Programme Finance Initiative (UNEP FI) in September 2019. The Principles set out the banking industry’s responsibility in shaping a sustainable future and aligning the sector with the objectives of the UN Sustainable Development Goals and the Paris Agreement. The Principles enable banks to embed sustainability across all business areas and leverage new business opportunities created by the emerging sustainable economy. OP Financial Group is stepping up its commitment to corporate responsibility by embedding it in our investment and lending processes and growing the share of responsible products and services in our offering.

OP is among the 38 signatory banks of the Collective Commitment to Climate Action (CCCA). The initiative supports the transition to a net-zero carbon economy by 2050.

UNEP FI PRB Self Assessment Template and Limited Assurance Report 2023

Pohjola Insurance committed to the UN Principles of Sustainable Insurance as of 1 January 2022. The Principles complement the UN Global Compact Principles, UN SDGs and the Paris Climate Agreement. The Principles are followed by considering the material ESG-questions in insurance business.

UN PSI Report 2023

In 2009, OP Asset Management Ltd, OP Fund Management Company Ltd and OP Real Estate Asset Management Ltd were among the first such companies in Finland to sign the Principles for Responsible Investment (PRI) supported by the United Nations. Nowadays both companies annually report on the implementation of the principles.

Collaborative networks


EACB supports the political goals for creating sustainable and climate friendly frameworks to radically decrease the risks and consequences of climate change. OP is a member of the EACB.

FIBS is a corporate responsibility network which aims at sharing information on industry best practices and solutions among companies and their stakeholders. OP is a member of the FIBS network.

Finance Finland is a network that collects the Finnish financial industry’s organisations together and promotes its members interests in various ways. Finance Finland contributes to legislation and decision making related to the financial industry.

FINSIF ry promotes sustainable investing in Finland by offering networking and information sharing. FINSIF organizes events that cover current themes in sustainability throughout asset categories. OP is a founding member of FINSIF, founded in 2010.

The green bonds of OP Corporate Bank and the green covered bonds of OP Mortgage Bank are in line with the ICMA Green Bond Principles. 

Policies and principles