Business Finland has had a significant impact on the development of Finnish low-carbon industries
Business Finland (as well as Tekes and Finpro before Business Finland), have directed considerable RDI investments to Finnish companies to promote low-carbon solutions for over decades. In the spring 2020, Business Finland launched a study of its long-term effects on achieving low-carbon goals.
The study, carried out by Gaia Consulting, covered 17 case study companies which are Business Finland’s largest customers. These companies covered also 55% of Finland’s industrial CO2 emissions in 2019.
According to the Gaia’s report, Business Finland has funded low-carbon energy solutions by approximately €2 billion in 2006-2019.
The organization has encouraged numerous Finnish players to venture abroad with their green products and services.
Dr. Mari Hjelt from Gaia Consulting emphasizes the importance of long-term effort in such a support structure.
”The results of these long-term investments are clearly visible: the Business Finland funding has created business for Finnish companies, strengthened their role as pioneers and cut down on carbon emissions.”
According to the report, the over-all CO2 emissions of Finland have been reduced by placing an added emphasis on energy production and industrial energy-efficiency which have also been the main funding targets for Business Finland. During 2006-2019, about one third of the total Business Finland funding has gone towards low-carbon solutions.
WANTED: ECOSYSTEM EXCELLENCE
According to the Gaia’s report, Finnish competitive edge is visible in, for example, the forest sector energy-efficiency, biomaterials, biofuels and digital solutions (e.g. Smart Grids and IoT). The report also finds that big companies occupy a key role in meeting the national carbon neutrality goals through their own business operations as well as via their ecosystem involvement.
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Developing low-carbon solutions takes time and resources. The report observes that in order to keep this momentum going, it is crucial to have Business Finland in the “low-carbon corner” in the years to come, as well.
Source/Image Credit: Business Finland