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The Apuu chat helps primary school children in distress

Finland has many well-established helplines for young people and adults. Primary school children, however, did not have an easy-to-use channel where they could ask for help if they feel unsafe, threatened or in need of support from a reliable adult. The Apuu chat was designed to meet exactly this need. Its stripped-down user interface is compatible with a wide range of devices and internet connections, including modest ones.

The helpline chat serves 7–12-year-old children every day from 9 am to 10 pm. Through the chat, children can reach SOS Children’s Villages child welfare professionals as well as trained volunteers who listen to the children and help them reach local services when necessary.

Children most commonly use the chat to discuss anxiety, bullying, relationships with their friends and concerns about their parents. However, the number of contacts for serious reasons are growing at an alarming rate. On a weekly basis, children use the chat to discuss matters that the helpline adult reports to the police or child welfare services or that requires emergency social services.

The chat team leader is Johanna Virtanen, who is project manager at SOS Children’s Villages Finland and also works with support families.

“Children contact us for very different reasons. Many children come from perfectly ordinary families, but they want to discuss and go over day-to-day matters with an adult. They may need an adult to encourage them to bring the matters up with their own parents. Children also talk about their relationships with their friends and about entering puberty”, says Virtanen.

Johanna Virtanen

“The other group of children who contact us are children who are facing an emergency or who have experienced threatening situations for a long time. We will tell them what kind of help is available in their situation.”

“We file about three child welfare reports a week. The number would be higher if children only agreed to provide enough information about themselves. But we must remember that children use the service anonymously, and they must be able to trust that they themselves can choose how to proceed in their situation. Children’s rights safeguard children’s ability to influence matters that pertain themselves. We must respect this.”

In every discussion, the helpline adult makes a plan together with the child as to how the matter in hand might be solved.

“We thought that it would take a long time for children to learn to trust us, but children are able to share their thoughts and feelings amazingly directly and honestly. For them, the chat interaction is genuine and valuable. Based on the feedback we have received, it is important that children are heard and that someone pauses to really consider their situation”, says Virtanen.

For the chat team, working on the chat is both energising and taxing.

“The children who contact us are so smart and lovely. Unfortunately, many of them have to bear more responsibility than any child should.”

Children have contacted the Apuu chat more than 11,000 times in just a few months. The chat is intended to become a permanent helpline for young children who need help. The chat runs on donations.

This year, MuniFin donates its EUR 10,000 Christmas card fund to support the work of the Apuu chat, which is run by the SOS Children’s Villages Finland.Information about the Apuu chat has been distributed in schools, through social media influencers and as part of outreach youth work done online to actively reach children in need of help. The chat is available at apuu.fi.

MuniFinSustainability

The world’s first zero-energy ice hockey arena built in Äänekoski

The first puck dropped in the new hockey arena on 28 August. The opening practice match between JYP and Pelicans was sold out in a couple of hours.

“The construction was completed in the planned schedule, and the opening was a success despite the coronavirus situation. The top league match also put the quality of ice to a real test right away”, says Antti Virmanen, CEO at Proavera Ltd.

The Suolahti arena is an eagerly anticipated investment in Äänekoski’s sports scene. The arena replaces a decades-old tarpaulin hall and brings high-quality sports facilities within reach of everyone. The arena in itself is not an unusual structure, as Finns are used to having a hockey venue in every town. Its design, construction and operation are exceptional, however, earning it the nickname of “zero-energy hall”.

“The arena is actually a provider rather than just a consumer of energy. An indoor ice rink is basically a massive refrigerator, which takes an enormous amount of energy to keep cold. But in doing so, it also creates condensing heat similarly to regular fridges. Usually this heat is simply expelled outside, but we store it and make use of it instead”, Virmanen explains.

The idea is as straightforward as it sounds. All of the required technology already existed, although the arena can be described as a pioneering project. “Green” is still not the default standard in new construction projects. The decisive part of the progress made in Äänekoski was a shift in thinking.

”We decided to do things differently. The investment had to be made anyway, so why not make it in a sustainable way? If we look at the obvious solutions critically, and look for ways to improve them, I think that puts us in the right track”, Virmanen notes.

Income from selling energy

Energy efficiency as a cornerstone of the project may initially sound expensive. An indoor ice rink is a large undertaking for any Finnish municipality even without the new design and construction methods. Virmanen admits that the initial investment was larger compared to a “regular” hall, but only by a relatively small amount – and the finances should be considered far beyond the initial costs.

For a large, long-term project like this, the overall energy economy and operating costs are more significant than the initial design and construction costs. The Suolahti arena creates enough energy for all its own thermal needs with excess to share with others.

”We have aimed to control our energy balance and run the venue with minimal operational economy. We are therefore more than self-sufficient: not just using but also selling our energy. Our waste heat turns into usable heat for the nearby school and swimming hall”, Virmanen says.

Green financing

The project is financed by a green loan from MuniFin. Green loans can be sought for projects that create substantial and measurable benefits for the environment. The Suolahti arena uses less than half of the energy required for other similar halls. Attention has been given to details as well: the ice resurfacers are electricity-powered, electricity is bought only from renewable sources, and the refrigerant used is carbon dioxide, which is more friendly for the environment than other options. The project has already gone a long way, but new ideas keep appearing in Virmanen’s planner.

”Projects like this require attention to both small and large details. Our next goal is to increase our degree of self-sufficiency. We’ll reduce the amount of purchased electricity by installing solar panels on the roof of the arena”, Virmanen envisions.

The Suolahti Arena measures everything possible. Approximately 1,500 measuring points produce data on things like heat and energy production and transmission. Incoming energy is also measured in many ways so that it can be monitored in the long term.

More ice rinks following the example

The Suolahti Arena is the first concrete example of a green ice rink in Finland, and as far as we know, the first one in the world, too. But Äänekoski is by no means the only municipality thinking about energy-efficient ice rinks. Green projects are rapidly gaining popularity.

“I have a feeling that green energy will soon be used all over the country. Almost every time I’m on a hockey trip someone tugs at my sleeve and asks for advice, and I think that’s a great thing. I tell everyone to feel free to copy this design, and improve on it too”, Virmanen notes happily.

Text: Heidi Penttinen
Photo: Jiri Halttunen / JYP

CaseGreen financeMuniFinSustainability

MuniFin joins United Nations Global Compact

Global Compact is the world’s largest corporate responsibility initiative. The Compact’s ten principles of corporate responsibility bind companies to obligations related to human rights, working conditions, the environment, and anti-corruption. 

“In our business we have strived to prove that finance can really steer societal development in a positive direction. Global Compact is our way to show that we are committed to continuous development of corporate and environmental responsibility. The networking opportunities it provides will also help us gain further knowledge in this field”, says Esa Kallio, president and CEO at MuniFin. 

MuniFin has been a forerunner of sustainable finance in Finland by introducing the first green and social finance products in the country. This has also been noticed internationally. For example, MuniFin ranked 28th in the ESG risk assessment of nearly a thousand banks by Sustainalytics, the world’s largest independent provider of ESG research and ratings. 

“Responsible business is long-term work, and stakeholders’ expectations on corporate responsibility are always growing. That is why we will keep self-evaluating and seeking the most important targets for development for our customers”, Kallio states. 

Lenita Toivakka, executive director at Global Compact Network Finland, welcomes MuniFin to the network. “We’re happy to have an experienced and significant promoter of reponsibility such as MuniFin onboard. Our network gives them access to initiatives and programs to drive responsibility and sustainable growth even further”, she comments.  

Global Compact Network Finland now includes more than a hundred companies. 

MuniFin is also a member of the Finnishcorporate responsibilty network FIBS and Finland’s Sustainable Investment Forum Finsif. It is also a Climate Bonds Initiative partner and a WWF certicified Green Office.

MuniFinSustainability

MuniFin returned to Green bond market with a record 55% allocation to Green investors

Mandate of the transaction was released on Monday afternoon 5 October and books were opened on Tuesday morning 6 October at 10:00 am Helsinki time. The first update of the transaction was sent at 11:30am, when the orderbook had grown to a record EUR 2.9 billion and at the same time the spread was set at mid-swaps +2 basis points, 3 basis points tighter from starting level. The final orderbook grew to EUR 3.4 billion, which is one of the largest benchmark orderbooks MuniFin has seen and the largest for MuniFin’s Green bonds. Coupon of the new Green bond is 0%, yield -0.197% and joint lead managers were Danske Bank, NatWest Markets, Nomura and Nordea.

104 investors participated in the transaction and the majority was sold to European institutional investors. Germany, Austria and Switzerland was the largest geographical area with 33% of allocations followed by Nordics 21%, Benelux 10%, Southern Europe 10%, France 9%, Americas 8% and other 10%. Central banks and official institutions bought 33% of the transaction, asset managers 30%, bank treasuries 28% and insurance/pension funds 9%.The amount of ESG focused investors grew to 55%, which is the highest allocation to this investor group seen in MuniFin’s Green bonds.

MuniFin’s Green bonds Framework divides Green finance into seven categories, sustainable buildings and public transportation being the most important ones.

“We are extremely pleased with the outcome. Almost 7 times oversubscribed orderbook and a meaningful greenium of around 2 basis points shows that going green really pays off. 2020 has been a very exceptional year – but we are very happy that we’ve been able to continue our presence in the Green bond market together with our inaugural Social bond just a few weeks ago”, says Antti Kontio, Head of Funding at MuniFin.

Issuer:Municipality Finance Plc (MuniFin)
Rating:Aa1 / AA+ (Moody’s/S&P – both stable)
Issue size:EUR 500mn (no-grow)
Payment date:14th October 2020 (T+6)
Maturity date:14th October 2030
Coupon:0.0%
Re-offer price:101.992%
Re-offer yield:-0.1970%
Re-offer vs. mid swaps:+2bps
Re-offer vs. benchmark:DBR 0% 08/2030 + 30.7bps
Lead managers:Danske Bank, NatWest Markets, Nomura, Nordea
Press Release MuniFin 10/6/2020: EUR 500 million 0% Green Bond due 14th October 2030Download

Further information:

Antti Kontio
Head of Funding, MuniFin
Tel. +358 500 3700285

FundingGreen bondMuniFinSustainability

Side by side with Lapland’s nature – Ivalo’s new education centre is MuniFin’s northernmost green finance project

A modern new education centre is being built amid the rugged northern landscape along the Ivalo River. It will cover about 9,000 square metres and provide premises for a total of 500 pupils all the way from pre-schoolers to upper secondary school students.

It will be the largest investment in the municipality’s history to be financed with MuniFin’s green finance. The first discussions about the new school were held in 2017. Construction was launched in late summer 2020, and the plan is to open the school gates to pupils in time for the start of the school year in August 2022.

“These kinds of projects are huge in scale – a lot of time is spent on design and planning. Nothing happens in the blink of an eye, even though we’ve been actively moving forward with the project all the time. Expectations are running high throughout the entire municipality,” says Inari’s Municipal Manager, Toni K. Laine.

The new centre is a firm investment in the future and an important step towards a more modern municipality with better services.

“It’s high time for municipalities to get their schools and other public premises into shape. The Municipality of Inari wants to lead by example. We have a clear programme for renewing our public buildings and this education centre constitutes a significant opening,” says Laine.

He reminds us that many Finnish municipalities were largely built in the 70s and 80s. The building stock is becoming irrevocably outdated.

“In some places, the buildings are even older than this. Something has to be done. However, local authorities also hope that the government will be more involved in funding service investments in the future, at least to some extent. There is definitely plenty to do and build in Finnish municipalities,” says Laine, sending his greetings to the decision-makers.

The signing ceremony for the new education centre. Pictured from left to right: Lehto Tilat Oy’s Sales and Project Development Director Juha Paananen, Regional Director Perttu Haapalahti, Inari’s Municipal Manager Toni K. Laine, and Director of Education Ilkka Korhonen. Smiling in the background over a remote connection are Lehto Group’s CEO Hannu Lehto and MuniFin’s Daniel Eriksson. 

 

Flood risk poses its own challenges

As in many other Finnish schools, Ivalo’s old school premises have had problems with indoor air. However, this is not the only reason for building the new education centre.

“Indoor air issues are often triggers that spark a rapid response, but there may be many other factors in the background. One significant factor was the introduction of the new national curriculum, whose pedagogical requirements could simply not be met in the old premises. The current school environment was designed for a completely different curriculum and era. It has fallen behind the times,” says Laine.

Laine says that, even at the project planning stage, there was already a prevailing consensus within the local authority that a new school was required and should be built. The only real discussion centred around the school’s location.

“Ivalo is a very difficult place to build in, as large areas are at risk of flooding. Although we do naturally already have flood protection in place, we must still carefully consider the location of new construction projects.”

The new school will be built on the site of the old elementary school, on the northern side of the river.

“We also wanted the school to be in harmony with the river,” says Laine.

Side by side with Lapland’s nature

Thanks to its energy efficiency, the building was approved for green finance by MuniFin and is currently the northernmost green finance project. Consolidating operations in modern premises will achieve clear cost benefits, while also guaranteeing safe, high-quality and, above all, healthy teaching premises for children and young people.

“Inari is aiming for the most ecological construction possible in all of its projects. Due to the cold winters, northern weather conditions naturally make ecological construction much more difficult to implement in practice than in the south,” says Laine.

Lapland’s stunning nature and unique landscapes have been the inspiration for the school’s designers.

“The brief for the architects was to create a style of architecture to suit Lapland in particular, by drawing on local nature and culture. Wood is highly visible as a structural element and glass is a similar element to water, keeping it in harmony with the nearby river.”

Wood and glass are highly visible elements in the new education centre. Lapland’s nature was the inspiration for its design.

As Inari is a multi-lingual municipality, working in small groups was a particular focus.

“In addition to excellent spaces for group work, the centre will also have a first-class auditorium that can also be used as a cinema, as well as a top-notch space for cultural shows and exhibitions. We’ll be getting a new, full-size sports hall and a central kitchen, which will be essential for the local authority’s service provision. Extra Lapland enchantment will be provided by a separate kota – a traditional Sami hut that will be used as both a learning and meeting place,” says Laine.

Laine says that Inari has long been on the winning side when it comes to migration. These investments in education will further increase the area’s appeal.

“The new centre will definitely give our image a big boost. We’ll have the opportunity to show people who are considering moving here that we want to provide safe and healthy premises for children and young people and that we’re strongly invested in pedagogical development and education through physical factors. Future generations will be educated in the new centre. A more important factor is hard to find,”says Laine.

FACT: GREEN FINANCE

MuniFin’s green bond and leasing are targeted at financing environmentally friendly investments. Customers can apply for green finance for both small and large scale investment projects that will bring clear and measurable pro-environmental effects.

To receive funding, projects must fall within the scope of one of these areas:
– renewable energy
– public transport
– sustainable construction
– water purification and wastewater treatment
– energy efficiency
– waste treatment
– environmental management and nature preservation

The terms and conditions for green finance are otherwise the same as for MuniFin’s other financing, except that green finance is more affordable for customers than an ordinary loan or leasing agreement.

Text: Pihla Hakala
Photos: Lehto Group (illustration), Municipality of Inari (signing ceremony)

CaseGreen bondGreen financeSustainability

MuniFin celebrates the issuing of Finland’s first social bond – rings opening bell at Nasdaq Helsinki

In addition to being the first social bond issued by a Finnish entity, MuniFin’s debut social bond also claims the title of the first Nordic social bond in the SSA category. The 15-year EUR 500 million product was met with overwhelming investor demand, and the bond, issued on September 3rd, was overbooked by nearly four times. 

With its introduction of the social finance product, MuniFin aims to encourage investments that have a notably strong impact and bring about wide-ranging social benefits. The first projects to receive financing within the MuniFin Social Bonds Framework were announced in June. These projects involve schools, hospitals and healthcare centers as well as housing for people with special needs. 

Social bonds expand MuniFin’s range of sustainable finance products. The company has been an active green bond issuer for four years and it is now expanding the offering into social bonds. 

Click here to watch a recording of the opening ceremony at Nasdaq Helsinki (Presentations in Finnish)

 Read more:  
 MuniFin leads the way by issuing the first Nordic SSA Social Bond 

Nasdaq Helsinki welcomes Municipality Finance as its First Social Bond Issuer 

FundingMuniFinSocial bondSustainability

Nasdaq Helsinki welcomes Municipality Finance as its First Social Bond Issuer

On 10 September 2020, Nasdaq announced that Municipality Finance Plc has listed its inaugural social bond on the Nasdaq Sustainable Debt Market at Nasdaq Helsinki. The bond notional is EUR 500 million with a maturity of 15 years, explicitly guaranteed by the Municipal Guarantee Board. MuniFin’s issuance is the first social bond listed on Nasdaq Helsinki and the first social bond issued by an SSA (Sovereigns, Supranationals, Agencies) issuer in the Nordic countries.

MuniFin has been an active green bond issuer for four years and is now expanding the offering into social bonds. The proceeds of the social bond issue will finance projects that fall into one of the three categories of social housing, welfare and education and they promote equality, sense of community, wellbeing and vitality of regions and/or municipalities. The first financed projects include schools, hospitals and health care centres and housing for people with special needs.

– We are extremely proud to be in the forefront of Nordic and European sustainable finance. Even if all of our financing is aimed at building and developing the Nordic welfare state, social finance is a flagship product that highlights the wide-ranging effects that municipal and non-profit housing investments have both on individuals and the society as a whole, said Esa Kallio, President and CEO at MuniFin.

– The investor response for our inaugural social bond was overwhelmingly positive. This is a strong testimony that the financial markets want to actively transform societies and make them more sustainable.

– With the help of issuers such as MuniFin, we have in recent years seen Nasdaq develop into an important hub for sustainable investments in Europe with more than 230 bonds listed on Nasdaq´s Sustainable Debt Market. Following many international firsts, such the first green corporate bond by Vasakronan and first city bond issued by Gothenburg, Sweden, we are especially happy to see continued leadership coming from the Nordic region, said Ann-Charlotte Eliasson, Head of European Debt Listings and Sustainable Bonds at Nasdaq.

– We are excited to welcome MuniFin, a Finnish pioneer in sustainable finance, as our first social bond issuer in Finland, said Henrik Husman, President of Nasdaq Helsinki.

– MuniFin was also our first green bond issuer in 2018, and we have now five sustainable bonds listed on Nasdaq Helsinki. We look forward to seeing additional issuers following this trend.

Source: Nasdaq Helsinki

FundingMuniFinSocial bondSustainability

MuniFin leads the way by issuing the first Nordic SSA Social Bond

Last week MuniFin mandated BNP Paribas, Credit Agricole CIB, DZ Bank and SEB to organise investor calls for the upcoming inaugural Social Bond. After series of investor calls and positive feedback from investor community, MuniFin opened books for the inaugural Social bond on Thursday 3rd of September. The 15-year EUR 500 million social bond pays an annual coupon of 0.05% with a yield of 0.068%.

– The work the MuniFin team have done has built on their strong reputation in the ESG space and has been rewarded with a huge following from sustainable investors and excellent execution. This framework and transaction sets the benchmark for other Nordic institutions to follow, comments Robert Matthews from BNP Paribas.

More than 91% of the bond was distributed to European investors. Almost one third of the bond was allocated to Germany, Austria and Switzerland and nearly one fifth to Nordic coutries. Asset managers took the largest share by representing almost half of the investors, with significant demand from SRI investors.

– The terrific invest interest did not come as a surprise for us as we see more and more investors wanting to invest in projects that support sustainable development. In 2016, we were the first green bond issuer in Finland. After being an active green bond issuer for a few years, it was time to expand the sustainable product offering to our clients and introduce social bonds to our investors. Considering our customer base of municipal and social housing sectors, expanding the sustainable product offering was a natural step for us, says Esa Kallio, the President and CEO of MuniFin.

MuniFin is a wholly public sector owned company whose sole mandate is to secure financing to the Finnish municipalities and non-profit housing organisations. It has been an active green bond issuer for four years and it is now expanding the offering into social bonds.

MuniFin’s inaugural social bond is the first of its kind issued by an SSA (Sovereigns, Suprana-tionals, Agencies) issuer in the Nordic countries.

Making the impact visible

MuniFin’s Social Bonds Framework has been drafted in accordance with the ICMA Social Bond Principles and it has three main categories: social housing, welfare and education. The Second Opinion has been provided by ISS ESG, stating that the Framework significantly contributes to four of UN’s Sustainable Development Goals.

With its new social finance product launched in the spring 2020, MuniFin aims to encourage investments that have a notably strong impact and bring about wide-ranging social benefits.

With the introduction of the social finance product, MuniFin wishes to showcase projects that are in line with the company’s view of social finance. The first financed projects include schools, hospitals and healthcare centres, and housing for people with special needs.

– Although the finance we provide can be considered already quite social in nature, we wanted to find projects that ultimately benefit the vulnerable population and address some key social challenges such as social exclusion and inequality, but also further promote Finland’s welfare state and education system, which are among the best in the world, says Antti Kontio, the Head of Funding at MuniFin.

The social finance projects are approved by the Social Evaluation Team. The team consists of external and internal social impact experts.

Issuer:Municipality Finance Plc (MuniFin)
Rating:Aa1 / AA+ (Moody’s/S&P – both stable)
Issue size:EUR 500mn (no-grow)
Payment date:10th September 2020 (T+5)
Maturity date:10th September 2035
Coupon:0.05%
Re-offer price:99.731%
Re-offer yield:0.068%
Re-offer vs. mid swaps:+9bps
Re-offer vs. benchmark:DBR 0% 05/15/35 + 33.6bps
Lead managers:BNP Paribas / Credit Agricole CIB / DZ BANK / SEB

Further information:

Esa Kallio
President and CEO
Tel. +358 50 337 7953

Antti Kontio
Head of Funding
Tel. +358 50 3700 285

FundingMuniFinSocial bondSustainability

MuniFin’s first social finance projects have been selected: they include housing for special groups, a wellbeing centre and a comprehensive school

Social finance is available to MuniFin’s customers, i.e. the local government organisations and operators within non-profit housing production. The projects to be financed must belong to one of the eligible project categories within MuniFin’s framework of social finance: housing, wellbeing or education. Another requirement is that the projects promote equality, a sense of community, wellbeing or the vitality of the municipalities or areas.

– MuniFin’s customers are responsible for a significant portion of the investments made in building the Finnish society and its infrastructure. We need to examine the need for investments, as well as the benefits and economic effects of investments broadly and in the long term, not only from the point of view of their economic, but also social and environmental impacts, says MuniFin’s Head of Customer Finance Aku Dunderfelt.

– Social investments have a much more extensive impact than most people realise. A library or public swimming pool, for example, influence people’s overall wellbeing and the community in multiple ways, Dunderfelt explains.

The first social financing projects were approved at the end of May. The projects are assessed and approved by a three-member evaluation team that comprises Jouni Parkkonen, Executive Directorof Association for Advocating Affordable Rental Housing – KOVA, researcher of municipalities Jenni Airaksinen from Tampere University and Financial Specialist in charge of social funding, Päivi Petäjäniemi, from MuniFin.

– The first approved projects for social finance are excellent examples of the spectrum of investments with a strong impact. Well-designed schools and student housing, for example, can have a wide-ranging impact on children and young people’s sense of security and community. Good design increases wellbeing but also prevents social exclusion, Päivi Petäjäniemi says.

Approved social finance projects

  • Foundation for Student Housing in the Helsinki Region (Hoas), several buildings
    Investing in the long life cycle of buildings constitutes sustainable urban construction that takes environmental impacts into account. Communal, high-quality housing for students plays an important role in supporting young people at a significant turning point in their lives and helps to create the preconditions for building an active, healthy everyday life and for preventing social exclusion.
  • Karstula comprehensive school, Karstula
    Well-functioning, healthy and safe facilities for early childhood education and teaching are a foundation for the well-being of children, teenagers and teaching staff alike. Solutions that support safety and a sense of community can have a significant effect on children and teenagers’ self-esteem and later life. Using the school as a venue for village events will bring vitality to the village andstrengthen community spirit and add to the municipality’s attractiveness.
  • Housing by Setlementtiasunnot, Jousenpuistonkatu, Espoo
    Setlementtiasunnot is a producer of housing whose housing concept is truly praiseworthy, as it diversifies the concept of ‘normal’, integrates members of special groups into the rest of society and supports the strengthening of all the residents’ sense of community.
    Communal housing solutions allow special groups to become involved with the wider community, which reduces loneliness, increases participation, prevents social exclusion and decreases the need for institutional housing and care. Some of the residents of these buildings are immigrants, and the project may profoundly promote their integration.
  • Sodankylä municipality, Sopukka Wellbeing Centre
    The evaluation team found the justification for the project very well founded. The circumstances in Northern Finland are exceptional due to the long distances, and regional challenges are considerable. Sopukka Wellbeing Centre’s operating model will boost the use of expert resources, make the healthcare supply chain more effective, considerably improve the safety of the region’s inhabitants and increase the region’s attractiveness. 
  • Turku Student Village Foundation, Tyyssija student housing, Turku
    Tyyssija is an ambitious sustainable development project that will impact the environment and community spirit in a versatile way. Communal, high-quality housing for students plays an important role in supporting young people at a significant turning point in their lives and helps to create the preconditions for building an active, healthy everyday life and for preventing social exclusion.
  • Versonsilmu Oy, Versokoti housing complex
    Safe and well-functioning housing solutions improve disabled children and teenagers’ access to education. Living close to the necessary services will increase their self-reliance and help them be more active, which in turn will considerably improve their mental and physical wellbeing. It will also make it easier for them to integrate with the rest of society, which will have long-term effects on the residents’ adult life.

Forerunner of responsible financing in Finland

MuniFin was the first Finnish credit institution to offer green finance back in 2016. It was also the first financial institution to provide social finance in the Nordic countries.

Responsible investment opportunities are more and more in demand in international capital markets. Resources for social finance are acquired through bonds earmarked for social projects, which are the focus of great investor demand. In 2016, MuniFin was the first Finnish green bond issuer. It is also at the front line of European financial institutions to issue social bonds.

Further information:

Päivi Petäjäniemi
Financial Specialist, Social Finance Specialist, MuniFin
Tel. +358 40 761 7665

Soili Helminen
Manager, Communications and Corporate Social Responsibility, MuniFin
Tel. +358 400 204 853

About MuniFin social bonds

FundingMuniFinSocial bondSustainability

MuniFin’s signature award to Oulu: Momo’s Bubbles charmed the jury with their authenticity and originality

During the 2019–2020 academic year, participants ran mini-companies that operated on real money as part of the JA Company Programme. The programme is carried out as part of the curriculum. In early 2020, more than 450 JA companies and 1,400 students took part in the semi-finals in 14 cities.

The Momo’s Bubbles team consists of Lucrezia Adora Ng, Raya Amokachi, Raha Torabihaghighi ja John Joseph who are Grade 9 students at Oulu International School.

Momo’s Bubbles serves Taiwanese bubble tea, a milky tea drink with chewy tapioca pearls. While wildly popular in many countries, bubble tea continues to be an exotic treat in Finland. In Oulu, Momo’s Bubbles is the first company to serve this drink.

A personal and distinctive brand and enthusiastic approach

According to the competition’s jury, made up of JA Finland’s partners, the business idea of Momo’s Bubbles was very topical. The jury was particularly impressed with the company’s strong, authentic and personal brand and the team’s approach to entrepreneurship.

“Momo’s Bubbles was positively bubbling with joy. The team’s energy was infectious, but the customers also praised the actual product, the bubble tea. During the programme, the team worked ambitiously to improve their production process, develop new flavours and offer options to accommodate for people with special diets”, says Kirsi Räbinä, director at MuniFin and jury member at the finals.

“The team members presented themselves very naturally, and their cheerful brand image reflected the team very well. Their business idea has great potential to grow and expand through collaboration agreements or licensing”, said the jury. Although there are a host of chains offering various beverages on the market, the jury was convinced that Momo’s Bubbles would stand out from the competition in a positive manner.

Paying it forward

The Momo’s Bubbles logo sports the company mascot, Momo the sloth. The company donates 10% of all sales to charity, using the proceeds to help sloths that were endangered in the 2019 Amazon forest fires.

“The Momo’s Bubbles team is going to go far. They are striving to move forward and are passionate about making their mark on the world”, commends Kirsi Räbinä.

The prize for the MuniFin #Huomisentekijät signature award is a sparring session with Jenny Pitkänen of the YouTube channel Jennysvoices. Pitkänen is a JA alumni whose JA company once made it to the national finals in the Company of the Year Competition.

Because social media has played a vital role in Pitkänen’s career, she will give the winning team tips on how to market their company on social media. The winners can decide together with Pitkänen what other topics the sparring session will cover.

Watch the Momo’s Bubbles video pitch here:

MuniFinSustainability