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Transparency and disclosure policy

Finnfund’s principles regarding transparency and disclosure of information are compiled in the disclosure policy, the latest update being made in autumn 2018.

Finnfund’s Disclosure Policy

Transparency is a key guiding principle in Finnfund’s operations. Transparent information on Finnfund’s operations is important to fulfilling its development mandate.

Finnfund publishes information on the principles, practices and results guiding its activities as widely as possible. Finnfund also encourages the companies it finances and its partners to be transparent and to adhere to good corporate responsibility practices.

Finnfund publishes information about its activities and investments on a continuous basis, for example on its website, in its annual report and in its sustainability report as well as in other publications.

In addition, Finnfund is continuously conducting an open discussion with various stakeholdes both in Finland and abroad.

Finnfund publishes at least the following details of its direct investments:

  • the name of the investee company
  • website of the investee company (if available)
  • region and country of operations
  • jurisdiction of registration of the investee company
  • in case the funding has been channeled through another company, the name of the company name and its jurisdiction of registration
  • business sector
  • signing date of the main transaction agreement (month/year)
  • size of Finnfund’s financing (commitment)
  • share of Finnfund’s financing of the total equity or debt financing
  • the financing instrument (e.g. debt, equity, mezzanine)
  • size of the project or of the financing
  • environmental and social categorisation at the time of Finnfund’s investment decision
  • brief project description and purpose of Finnfund’s financing
  • the most important development effects.

Finnfund publishes at least the following details of its fund investments:

  • the name of the investment fund
  • the website of the investment fund (if available)
  • the region and countries in which the fund invests
  • the jurisdiction of registration of the fund
  • business sector of the fund
  • the signing date of the main transaction document (month/year)
  • size and share of Finnfund’s financing in the investment fund (commitment)
  • environmental and social categorisation at the time of Finnfund’s investment decision
  • brief description of the fund
  • the most important development effects
  • names of the companies financed by the fund
  • business sectors of the companies financed by the fund
  • regions and countries of the companies financed by the fund.

Legal restrictions on publicity of information and other issues

Finnfund strives to enhance transparency and actively foster transparency among its partners. However, it cannot jeopardize its funding or its operations or those of its partners. Finnfund may not disclose the trade secrets of its clients or of other parties or such information which is confidential based on law, regulations on inside information or under a contract.

Documents and information exchanged with Finnfund’s co-investors and financiers, e.g., development finance institutions, banks, international organisations and other parties, and documents and information that are related to Finnfund’s internal processes are not publicly available.

Disclosure of project information will be made as soon as possible after financing has been agreed. Finnfund does not disclose information about projects which it considered but in which it ultimately did not invest.

Project information is a summary of the key elements of Finnfund’s financing or investment at its outset. The summary does not purport to be comprehensive, complete, conclusive or up to date. Finnfund shall not be responsible to third parties for any damage that may occur pursuant to any action taken because of the information disclosed by Finnfund. Finnfund’s website may contain links to third-party websites the contents of which are outside the control of Finnfund.

The public documents of Finnfund can be freely reproduced, as long as the source is clearly mentioned and the information concerned is not modified. However, using material for commercial purposes, such as for marketing, promotion activities etc., always requires Finnfund’s prior written approval. Any use of Finnfund’s logo or name for commercial purposes requires Finnfund’s prior written approval.

This policy is effective from 1 October 2018 and it shall apply to all projects approved by the Board of Directors after this date.