Over 200 companies propose new measures to the prime minister to modernize industry and accelerate sustainable growth

The major Finnish companies in the technology, chemistry, forestry and energy sectors have presented Prime Minister Petteri Orpo with the Finlandia Declaration, which contains measures to further modernize Finnish industry and accelerate sustainable growth. Over 200 companies have signed the declaration.

The export and energy industries’ trade associations demand that industry’s conditions for operating and growing be made a political priority. The signatory companies to the Declaration affirm their readiness to modernize and build the solutions of tomorrow.

Thanks to its high-tech skills, strong processing industry, and significant clean energy generation potential, Finland is uniquely placed for new, sustainable economic growth.

“Finland is aiming for carbon neutrality by 2035. Thus, at the Government’s mid-term review, we have to choose a bold path of reform that will create jobs, prosperity, welfare and security for all Finns, including future generations,” it was stated at the declaration handover ceremony.

The ways forward for overhauling energy and providing new business opportunities already exist. They are charted in the industries’ low-carbon and climate road maps. New opportunities await in areas such as battery ecosystems, renewable biomaterials, AI and digitalization, the hydrogen industry and fossil-free steel. Developing these value chains in collaboration with other Nordic countries can bring Finland significant sustainable growth, jobs and welfare.

Successfully reaching targets requires a sufficient supply of clean, competitive electricity. The energy industry is capable of meeting drastically increased demand for clean electricity. Finland is also capable of developing a thriving hydrogen economy. This requires rapid investments and the delivery of planned projects.

Action necessary to strengthen competitiveness and investments:

1. Accelerate competition: Create early global demand for new clean products through testimonials, tax incentives and stimuli that support public procurements and other demand.

2. Ease investments and growth: Target Finnish and EU grants at investments which accelerate growth, enable accelerated depreciations of new, high-risk technology, and continue the electrification subsidy and investment tax relief for heavy electricity consumption facilities.

3. Bolster investment in the energy industry: Ensure predictable and significant investments in grid and distribution systems to meet industry’s needs. Facilitate ongoing investment in renewable solutions that balance power generation fluctuations.

4. Secure investments and EU funding: Further develop the investment working group established in the state civil service. Combine industry and central government actors’ expertise into a shared foundation.

5. Create conditions for carbon capture and use: Create EU-level predicable incentives for captured carbon and a market for downstream products.

6. Derive benefit from NATO membership: Build comprehensive security and industry’s opportunities in parallel, ensuring an attractive site for the longest-term investments.

7. Ensure raw material availability: Improve raw material recycling and use natural resources while at the same time caring for irreplaceable natural assets and minimizing deforestation.

8. Create and strengthen industrial clusters: Create operating models for smooth construction and development of industrial parks. Streamline permits and zoning, as well as applying faster processing times and regulatory derogations.

9. Accelerate the hydrogen economy: Promote the production, transport, storage and use of hydrogen. Ensure that Finland benefits from opportunities and advantages of the hydrogen economy.

Link to the Finlandia Declaration website

Further information:

Minna Helle
CEO
Technology Industries of Finland
+358 50 341 4884

Paula Lehtomäki
CEO
Finnish Forest Industries
+358 9132 6600

Mika Aalto
CEO
Chemical Industry Federation of Finland
+358 50 438 9247

Jukka Leskelä
CEO
Finnish Energy
+358 50 593 7233