Every company benefits from having a sustainability strategy. For larger companies, preparing for increasing regulation and anticipating future requirements play a crucial role. However, growing regulation also means that smaller companies—not directly subject to the rules—will inevitably face sustainability demands, especially when they are expected to provide a sustainability strategy Read more
I recently graduated from the sustainable development blended learning programme at Häme University of Applied Sciences with a degree in Environmental Planning (B.Nat.Res). Now that the celebrations have settled down a bit, it's time to reflect on what these past two years have brought. When I came across HAMK’s Sustainable Development degree programme online in the spring of 2021, I was immediately excited. The field is not only timely but also incredibly diverse and interesting. Read more
The operating environment of small and medium-sized enterprises (SMEs) is shaped by many factors, such as personnel, customers, markets, competition, and legislation. Resources—practically time and money—often define the framework for business operations and development, especially in SMEs. Public discourse, along with the expectations of society and stakeholders, also play a role in shaping the operating environment for SMEs. Read more
Small and medium-sized enterprises (SMEs) form the backbone of Finland's economy. In 2021, there were approximately 500,000 businesses operating in the country, over 99 percent of which were SMEs with fewer than 250 employees. These companies employed around 63 percent of the national workforce. The turnover of SMEs totaled €273.6 billion, accounting for 56 percent of all business-generated revenue. This highlights the significance of the SME sector to Finland’s economy and underscores its role as a driver of societal well-being, employment, and national economic growth. Read more
The concept of a carbon footprint has become familiar to most people and companies. A carbon footprint represents the climate impact of a person, business, or individual product, calculated by summing all greenhouse gas emissions generated throughout its life cycle and converting them into carbon dioxide equivalents (CO2eqv). Read more
Corporate responsibility work is a broad and multifaceted process, especially in the early stages when a company begins building its sustainability strategy. Materiality assessment plays a crucial role in this phase, as it is neither possible nor sensible to try to address everything. Instead, sustainability efforts must focus on the most material impacts, risks, and opportunities related to the company’s operations. By concentrating on what truly matters, the company can achieve the best possible results in its sustainability work. Read more
The EU’s Corporate Sustainability Reporting Directive (CSRD), which came into force in January 2023, places corporate sustainability reporting alongside traditional financial reporting as an integral part of a company’s financial statements and annual report. This is a significant change that sets the direction for the future of corporate reporting in companies of all sizes. The ESRS standards (European Sustainability Reporting Standards) under the directive define the information that Read more
The EU Emissions Trading System (EU ETS) is a carbon market mechanism used within the European Union. It is based on a cap-and-trade system that applies to energy-intensive industries, electricity generation, and civil aviation. It is the world’s first and largest carbon market. Under the system, certain major emitters of harmful greenhouse gases are required to hold or purchase a permit (emissions allowance) for every tonne of carbon dioxide they emit. The total number of emission allowances issued annually by the EU is lower Read more
The EU’s climate policy guides the actions of the EU and its Member States in mitigating and adapting to climate change. Through its climate policy, the EU aims to reduce its net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. In addition, the EU’s long-term goal is to achieve a balance between emissions and removals – that is, climate neutrality – by 2050. The EU climate policy aims to reach these targets through three main sectors: the Emissions Trading System (ETS), the Effort Sharing Read more
Recent discussions have frequently revolved around Finland's forests and whether they are a carbon sink or a source of carbon emissions. In these discussions, the abbreviation LULUCF often appears. What lies behind this abbreviation, and what larger context is it related to? This is what I will address in this article. To get started and ensure we are on the same page, I have compiled a few basic concepts and their definitions related to the topic. It is worth taking a moment to read and understand these before we dive into the main subject. Read more
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