20 climate actions in 2020

Climate change is one of the most pressing problems of our time. It affects our owner-customers and operating region in the long run. OP Financial Group’s mission is to promote the sustainable prosperity, security and wellbeing of our two million owner-customers and our operating region. It is a promise that requires us to take action. For this reason, our goal for 2020 is 20 climate actions.

Why 20 climate actions?

  • More and more people, especially younger generations, are worried about climate change and its effects.
  • There is plenty of information about climate change, but making decisions about measures to fight it is a slow and difficult process. One example of this was the UN Climate Change Conference in Madrid in December 2019.
  • Climate change is such an enormous and complicated matter that it takes time to make internationally binding regulations. This has been evident also in the finalisation of the EU taxonomy defining the criteria for green finance and sustainable business.
  • Companies and the financial sector have a key role in the work against climate change – reducing climate change and adapting to it require huge investments. In the EU alone, the transition to a carbon neutral economy calls for annual investments of 270 billion euros. 
  • Slowing down climate change requires actions from everyone and we will do our share. Fostering a sustainable economy is one of the cornerstones of our newly updated Corporate Social Responsibility Programme. We want this decade to be the decade of solutions. 

What are our 20 climate actions?

  • During 2020, we will launch new financing products aimed at reducing climate change, channel investments to reducing climate change, help our customers to become more aware of how their every-day life affects the climate, support companies’ journeys towards more sustainable economic growth with loans based on sustainability criteria, support the agricultural and forestry sector on the road to a more sustainable tomorrow and do our part in providing more information about the economic impacts of climate change. 
  • In our own operations, we are aiming to become carbon neutral by 2025.
  • We believe that the big problems of our time can be solved. Our common future requires responsible actions. 
OP supports Carbon Action project, which trains farmers to utilise the soil even more wisely
Vallila
OP transitioning to emissions-free heating
Demand for responsible investing on the rise during the corona crisis
Talvinen metsä
How will climate change effect familiar landscapes in Finland? WWF Finland conducted a survey with support from OP Financial Group
OP Asset Management issues new review of climate-related risks and opportunities of investments in line with TCFD recommendations
OP Corporate Bank to finance new Lakiakangas 3 wind farm by Helen and CPC Finland
Aurinkopaneelit
OP Real Estate Asset Management Ltd installs 12 new solar power stations for its properties
The first emerging markets impact fund in Finland
OP Vuokratuotto converts first residential property to ground source heat
OP Mortgage Bank may issue Green Covered Bonds
Properties managed by OP Real Estate Asset Management use renewable electricity
OP Real Estate Asset Management to engage in Net Zero Carbon Buildings commitment
OP Corporate Bank has strengthened its position as a green financial services provider in 2020
OP Asset Management joins CDP’s Science Based Targets campaign
Electric vehicle charging station capacity increased at OP’s head office in Vallila
OP Asset Management joins investor initiative to stop deforestation
OP’s Central Cooperative switches to carbon-neutral waste management
OP’s ESG network improves sustainable asset management
OP Financial Group continues its excellent work to mitigate climate change
We made a difference to the climate impact of our investments