MuniFin has published its second financed emissions report, disclosing the greenhouse gas emissions associated with its lending and investment portfolios. The report presents emissions data for 2023. Our first report was published in October last year.
“The calculations show us that we are on the right track in reducing emissions from financed buildings, in line with the goals set out in our Sustainability Agenda. However, our work continues, as does the development of our reporting,” says Elina Sääskilahti, Sustainability Manager at MuniFin.
MuniFin joined the Partnership for Carbon Accounting Financials (PCAF) in 2022, committing to measure and disclose the greenhouse gas emissions associated with its lending and liquidity portfolios. PCAF is a collaborative, industry-led initiative with over 400 members, aimed at developing and implementing a harmonised approach to assessing and disclosing greenhouse gas emissions from loans and investments. The goal is to align financial portfolios with the Paris Climate Agreement.
Sustainability agenda sets the direction to 2035
In 2023, MuniFin published its first sustainability agenda, publicly committing to support a sustainable welfare society and to promote climate-friendly, environmentally sustainable investments. The agenda includes increasing the share of sustainable finance within the lending portfolio and setting emission reduction targets for financed buildings.
Financed emissions represent 99% of all emissions associated with MuniFin’s operations. By focusing on reducing these indirect emissions, we can achieve a significant scale of influence.
“Our customers play a key role in achieving Finland’s climate targets, which is why sustainability lies at the core of our business as we finance their projects. We remain committed to supporting our customers in their ambitious work towards a greener future,” Sääskilahti concludes.