SOCIAL RESPONSIBILITY REPORT 2020 Translated form the original Finnish version 2 CONTENTS 1 Review by the Director General ...............................3 5 Impact .................................................................23 2 Managing social responsibility 5.1 Towards the implementation and key themes in Business Finland ...................... 5 of the new strategy ............................................23 3 Business Finland as an organization .................... 8 5.2 Sustainability .............................................. 27 3.1 Ownership structure and 5.3 Finances ...................................................... 30 company form ..................................................... 8 6 Business Finland’s own operations .................... 35 3.2. Significant changes and events 6.1 Personnel .................................................... 35 in the organization ............................................. 9 6.2 procurement .............................................. 45 3.3 Brands, products, and services ................. 10 6.3 Regional operations in Finland 3.4 Size of the organization ............................ 10 and abroad ....................................................... 47 3.5 Governance .................................................12 6.4 Direct environmental impact of 3.6 Reporting practices ...................................13 our operations .................................................. 48 4 Business Finland’s operations as a responsible 7 Clients and other stakeholders ........................... 49 funder and provider of service functions ..............14 7.1 Clients ........................................................ 49 4.1 Corporate responsibility 7.2 Other stakeholders .................................... 53 and governance ................................................14 8 GRI content index ................................................ 56 4.2 Funding and expert services .................. 18 4.3 Promotion of tourism ..................................21 3 1 REVIEW BY THE DIRECTOR GENERAL STRATEGY AND SUSTAINABILITY opment of Finnish expertise, so that Finland will succeed globally also in the future. Business Finland underwent a reform in 2020. Over the The theme of sustainability is also strongly reflected course of the year, Business Finland prepared a new strat- in tourism. Visit Finland has developed a program and egy, renewed its organization, and assisted companies a label called Sustainable Travel Finland designed for affected by the COVID-19 crisis by means of funding for tourism companies and destinations in Finland. The idea disruptive circumstances. Our new strategy extends until with the Sustainable Travel Finland label is to provide 2025. The key changes in the strategy will be reflected companies and destinations with a concrete toolkit for as a more client-oriented service and a better employee sustainable tourism that makes it easier to adopt sus- experience. We are more proactive and seize the opportu- tainable practices and choices in their everyday busi- nities provided by major social changes. Sustainability is ness. The first couple of dozen companies received their at the heart of our strategy and operations. Sustainable Travel Finland labels in June. Through the strategy, we will invest in three core areas: In spring 2020, Business Finland launched a survey economic growth, sustainability and strengthening of into its impact on achieving low-carbon emissions and competitiveness. A healthy economy is a prerequisite for its role in this work. The survey was carried out by Gaia wellbeing. We promote the growth of the Finnish economy Consulting Oy. According to the report, Business Finland to create comprehensive wealth and wellbeing in Finland. has funded low-carbon energy solutions with an estimat- Sustainable development enables economic growth in the ed two billion euros between 2006 and 2019. At the same long term. The demand for sustainable solutions creates time, Business Finland has challenged Finnish compa- new and rapidly growing market opportunities. Sustain- nies to join the growing international low-carbon solution ability includes three dimensions: economic, ecological, markets. Persistent investments have created business and social sustainability. Ensuring competitiveness is a for Finnish companies, promoted the trailblazer status, prerequisite for creating prosperity and wellbeing in the and reduced emissions. long term. Our task is to promote and support the devel- 4 BUSINESS FINLAND IS MORE BUSINESS FINLAND ALLOCATED ALMOST ONE CLIENT-ORIENTED BILLION EUROS IN FUNDING FOR DISRUPTIVE The main objective with the strategy is to ensure that CIRCUMSTANCES DURING THE CORONAVIRUS Business Finland’s experts and services assist Finnish YEAR companies, research organizations, and public organiza- Business Finland’s year 2020 was characterized by the tions to succeed globally, develop sustainable solutions COVID-19 pandemic. Business Finland granted a total of and functions, and boldly renew their operations. EUR 1,052.6 million of funding for in disruptive circum- In addition to the new strategy, Business Finland re- stances in the form of grants and loans to a little over newed its organization in 2020. The new organizational 20,000 projects. Most of the applications were processed structure is clearer and more client-oriented. Measures by the end of August. Most funding was granted to the related to the organizational change were made the latter retail sector, industry, and the tourism and hospitality part of 2020, and the new organization was introduced industry. Approximately half of the companies use the on 1 January 2021. funding for disruptive circumstances to develop digital COVID-19 also had an impact on Business Finland’s solutions. During the crisis, Business Finland’s support work. The entire organization started working from home assisted companies in coping with the negative effects of in March, and learning to use the new tools and working the coronavirus pandemic. methods required a major learning effort from the per- sonnel. Nina Kopola In the most recent employer image survey of employ- er branding expert organization Universum in 2020, pro- fessionals from the commercial sector chose Business Finland as the most attractive employer in the public sector, for the second year in a row. Business Finland also reached the top ten among all Finnish employers in the commercial sector for the first time (ranking 9). 5 2 MANAGING SOCIAL RESPONSIBILITY AND KEY THEMES IN BUSINESS FINLAND Business Finland discharges a service duty handed down states that Business Finland works in the interests of Fin- by the Finnish state and assigned to it by law. For that land and Finnish society, and this can be considered the reason, social responsibility is a key part of Business Fin- starting point for all of Business Finland’s activities. Fin- land’s operations, and it is managed as a part of every- land wants to be a responsible actor also on the interna- day activities. Business Finland boosts new, sustainable tional stage, and operating responsibly in Finland’s best growth in Finland through innovation and international interests will also advance this goal. Operating in the best cooperation. Business Finland is working for Finland. The interests of society requires responsible activities when performance agreement made with the Ministry of Eco- providing funding and expert services and in Business nomic Affairs and Employment every year sets out Busi- Finland’s own operations. A good customer experience, ness Finland’s targets for the forthcoming year, as well meanwhile, is closely connected to a good employee ex- as the indicators used to measure performance against perience. Business Finland realizes its work in the best the targets. Business Finland reports on the achievement interests of Finnish society through its clients, and it is of these targets in the Funding Agency’s annual report. important that the work involves listening to the clients. The same targets also direct the social responsibility of We receive valuable feedback from our clients and other Business Finland. external stakeholders in order to develop our operations. The key themes and main principles of Business Fin- The key themes and main principles have been found land’s social responsibility have remained the same as in to be important in discussions by the leadership team the previous years. The key themes and main principles and the Board of Directors. When the themes were defined for social responsibility consist of four main themes, in 2018, persons responsible for the different functions each with related sub-areas. These four key themes con- in Business Finland were interviewed and feedback re- stitute the core of Business Finland’s operations, and ceived from stakeholders on Business Finland’s opera- they are inextricably linked. None of the themes can be tions was taken into account. prioritized over the others. Business Finland’s strategy 6 In 2021, Business Finland will re-examine the key The effects of Business Finland’s funding and expert themes and main principles, and update them to comply services are directly targeted to the clients receiving the with the strategy for the new strategy period that begins funding or expert service. Indirect effects also affect in 2021. Finnish society through the creation of new jobs and the The key themes and main principles of Business Fin- growth of export and the economy. land’s social responsibility