The demand for our social finance remained strong in 2024. We were delighted to see that customers sought our financing for a very diverse range of projects.
We are very pleased to see that our customers are willing to put their expertise into taking wellbeing, communality, equality and sustainable living broadly into consideration in their projects even in these tough economic times. In 2024, we granted EUR 337 million of social finance to a total of 30 projects. Among the projects we financed are hospitals, culture and sports facilities and housing solutions for the most vulnerable population.
State-subsidised housing providers excel at integrating sustainability into their operations. Their approach is centred around social sustainability, often complemented by a broad focus on environmental aspects. These social housing projects are designed to be energy efficient and offer their residents communal spaces and opportunities for easy recycling, car sharing or bicycle maintenance, for example.
It has been wonderful to see our municipal customers investing in the wellbeing of their residents and implementing cultural projects even at a time when the culture sector’s conditions are deteriorating. This goes to show that municipalities recognise that culture has the power to shape society and want to ensure that their residents have access to enriching experiences also in the future. Culture and sports offer a respite from the budget cuts, climate anxiety and general doom and gloom dominating the media. The importance of providing easy access to community spaces and recreational opportunities cannot be overstated.
We expect the demand for financing for projects in the housing category to decrease due to planned cuts to subsidies for state-subsidised housing production targeted at the most vulnerable population.
It is not always easy to quantify the benefits of investments that support wellbeing, especially as they often build up over a long period of time. For this reason, it is particularly valuable that investments that support communality, culture and sports are made also during economically difficult times.
Rami Erkkilä, Senior Specialist, sustainable finance
Rami Erkkilä is responsible for green and social finance products at MuniFin
The article was originally included in our Social Impact Report, published on 4 March 2025. You can read the full Social Impact Report 2024 edition here.