In 2023, the demand for our green finance grew substantially. Sustainable solutions are driven not only by environmental goals, but increasingly also by financial factors. The demand for our green finance reached a record high in 2023. We granted green finance to about 170 projects, almost 100 of which were by our housing sector customers.
Green finance is offered to selected projects that promote the transition to low-carbon and climate resilient growth. These projects seek to mitigate or adapt to climate change. In this Green Impact Report, we summarise the impact and calculation principles of our green finance projects in the year 2023.
4.8
EUR bn
Outstanding amount of green finance
81,366
tCO₂
Annual CO₂ emissions avoided/reduced
411
Number of green projects
51,736
MWh
Annual energy savings (avoided/reduced)
Senior Specialist, sustainable finance
Rami Erkkilä:
“It has been a real pleasure to witness our housing sector customers grow more and more ambitious. The residential buildings that they construct increasingly achieve energy class A, and they also demand energy-efficient solutions and comprehensively sustainable construction practices from their partners. Our housing sector customers experiment daringly with their material, energy and recycling solutions. (…) And they have done all this cost-effectively, with careful consideration for the environmental impact of the building’s entire life cycle.”
Senior Specialist, sustainable finance
Rami Erkkilä:
“It has been a real pleasure to witness our housing sector customers grow more and more ambitious. The residential buildings that they construct increasingly achieve energy class A, and they also demand energy-efficient solutions and comprehensively sustainable construction practices from their partners. Our housing sector customers experiment daringly with their material, energy and recycling solutions. (…) And they have done all this cost-effectively, with careful consideration for the environmental impact of the building’s entire life cycle.”
Green finance project breakdown, number of projects
“In the year 2023 we succeeded in improving the efficiency of our review process and the transparency of our criteria, which also reflected in our record-breaking results for the year. The main reason for the record-year, however, is the ambition and work of our customers and the gradual development of shared rules and practices in the market.”
