Transparent climate disclosure
helps curb global warming
- FFI and its member organisations have created a reporting framework that companies can use to monitor their own climate work measures while also making them more transparent.
- The framework is based on a set of indicators that track the progress of mitigation measures over the years. This cooperation also gives participant member companies new ideas and viewpoints on how they could develop their own sustainability reporting.
- Companies can independently choose how they apply these indicators.
- According to a member survey, 100% of the respondent member companies take climate change into account in their investments. 84% take climate change into account also in their business operations.
FFI's recommendations for climate-related disclosures 2018
Climate change is taken into account in financial sector business – companies have become more self-critical (15 Oct 2021)
Finnish financial sector's sustainable development commitments
Finance Finland (FFI) endorses the mitigation and adaptation measures of the Paris Agreement. Their aim is to limit the increase in the global average temperature to below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 degrees. As a major investor, lender, insurer and asset manager, the financial sector wants to shed light on its role in combatting climate change.
The sector will evaluate and update the reporting guidelines annually. The guidelines are based on the recommendations of the Task Force on Climate-related Financial Disclosures, which operates under the international Financial Stability Board.
FFI climate indicator survey 2021
- 100% of the member companies who responded to the survey take climate change into account in their investments.
- 84% of the member companies take climate change into account in their business operations (lending, funds, payments, insurance).
- 79% of the member companies have integrated climate change into their own risk management.
- 89% of the member companies reported climate change is discussed at board-level in their group or company.
- 63% of the member companies had set concrete climate goals.