The green transition opens up a wide range of opportunities for various industries

From the reader. The progress of the green investment wave has been followed for several years. Although the uncertainties are great, it is still the most significant growth opportunity for the Finnish national economy.

The transition is progressing and now we must use all means to promote the placement of green investments in Finland and ensure their environmentally sustainable implementation.

However, it is important to correct one bias in the discussion: the green economic turn is not only about industrial investments or clean energy production. The change in production and consumption methods applies to all industries – both the food industry, construction, trade and service industries.

The success of a sustainable economy does not come easily to companies. It is a demanding structural change that many companies are making in an otherwise challenging economic environment.

The licensing reform is progressing at a good pace

Along with the pressure for change and the need for investment, the transition opens up new business opportunities and markets. So what should be done so that the Finnish economy and industries can catch up with this growth as widely as possible?

Many right steps have already been taken in national politics – for example, the reform of investment permits is making big strides towards its implementation this year.

In the following years, however, much depends on the European Union. At the beginning of the new commission period, there are the best opportunities to influence in order to provide Europe with the best conditions for investing in new clean solutions and for various industries to widely catch up with the opportunities of green growth.

It is excellent that the new commission sees research and commercial innovation at the heart of growth. In order for the targeted growth effects to be truly realized, R&D funding must be directed sufficiently company-led and widely to benefit different industries.

It must also enable ecosystems like Finland’s locomotive projects, which bring companies and researchers of different sizes together. EU-level investment funding must be granted based on the superiority of the projects.

There is room for improvement in the rules of the export game

The Europe-wide single market is vital for the export-driven small country. However, their rules of the game are still fragile, so that the conditions of competition are truly fair and equal, taking into account both industrial and service sector companies.

Game rules are needed for digital commerce so that products from China and other third countries are also responsible and safe. Likewise, it would be in the interest of Finland’s various industries that a uniform EU-wide internal market could be created for the circular economy.

Finland and Europe cannot and do not want to compete with the fossil economy and crude products. The best source of our growth and competitiveness can be found in responsible products and services. Let’s take this message forward nationally and at the EU tables, when both the Finnish government and the new commission are preparing new growth measures.

Ulla Heinonen

director, Confederation of Finnish Business

Lotta Nymann-Lindegren

director, Confederation of Finnish Business