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Finnfund’s climate investments 2019-2021

Finnfund is committed to investing in businesses which mitigate climate change and help people in developing countries adapt to it. These climate investments will be made in 2019-2021.

The amount is one half of the 210 million euro loan issued to Finnfund by the Finnish Government in 2019. We will invest the other half in projects which advance gender equality.

In its climate change investments, Finnfund applies the OECD DAC Rio Markers for Climate.

In addition, Finnfund calculates the climate impact of its entire investment portfolio annually. The comprehensive calculation of the investment portfolio provides an opportunity to analyse and develop the portfolio based on measurable and annually monitored quantitative data.

105 million euros by the end of 2021

Commitments as of December 2021 (starting April 2019)



Climate investments 2019-2021

Finnfund's climate investments on a map

According to the Intergovernmental Panel on Climate Change (IPCC), limiting warming to 1.5°C requires a marked shift in investment patterns. Additional annual energy-related investments alone are estimated to be around USD 800 billion. On top of that, developing countries will need to make sizeable investments in adaptation.

Development financiers play an important role in mobilising and channelling funding to climate investments.

Investment agreements

Signed agreements since 2019, as on October 2021.

IPT PowertechInternationalTelecommunicationUSD10,000,0002019
MLR Forestal de NicaraguaNicaraguaForestry and agricultureUSD10,000,0002019
ETC Group (Mauritius)AfricaAgricultureUSD15,000,0002020
Green Resources AS VAfricaForestryNOK270,3872020
Interact Climate Change FacilityInternationalFinancial servicesEUR15,000,0002020
New Forests Company HoldingsAfricaForestryUSD180,5522020
Kashf FoundationPakistanMicrofinanceUSD10,000,0002020
e-MobilityIndia Charging serviceEUR4,000,0002020
Salo Tech Thailand Ltd.ThailandSolar powerEUR2,756,2502020
CIFI Latam S.A.Latin America LMICBanks and financeUSD15,000,0002021
StarsightAfricaOff-grid power generationUSD7,100,0002020
ETC Group (Mauritius)AfricaAgricultureUSD10,000,0002021
Nordic Impact Cooperation AS InternationalEnergyEUR7,400,0002021
Kilombero Valley Teak CompanyTanzaniaForestryUSD345,0002021
Forest First ColombiaColombiaForestryUSD1,500,0002021

Examples of investments in climate

More reliable and energy efficient telecommunications in Lebanon and Guinea

IPT PowerTech Group will modernize the energy supply infrastructure in Lebanon and Guinea. The hybrid solution utilizing solar panels and storage media will save up to 40% of energy and reduce diesel consumption significantly. The annual CO2 emission reductions have been calculated at 115,000 tons per year.

Sustainable teak and cocoa plantation in Nicaragua scores top impact points

A project to expand FSC certified teak and UTZ certified cocoa plantations in Nicaragua scores exceptionally high points in Finnfund’s development impact assessment. The high score is based on the project’s contribution to carbon capture, protection of fauna and curbing deforestation as well as the various social impacts

Energy efficient solar power solutions in Nigeria’s banking sector

Starsight offers solar-diesel-battery hybrid generation and efficient cooling and lighting solutions to commercial and industrial clients throughout Nigeria. Starsight’s solution will cut the customer’s use of fossil fuels by up to 70%.