Ross Brooks

Investments into green transition and new green economy can provide a substantial boost to Finnish GDP and welfare. We have all the right cards in our hands, but need a reform in power markets to ensure the availability of clean and reliable energy for customer needs. Great new report by Oxford Economics and Felicity Hannon!

23

Gofore Plc’s Interim Report January-March 2024 is published 🗞️ CEO Mikael Nylund: "Although risks remain in both geopolitics and macro economy, we believe that the growth lever from the market is strengthening." • Gofore was not immune to industry over capacity and price competition, but managed to maintain good profitability. Adjusted EBITA 6.8 (8.3) million euros, 13.8%. • No net sales growth, 0%, net sales were 49.2 (49.1) million euros. Organic growth -2%. • Beginning of the year saw ending projects and savings measures that put a strain on the utilisation rate. • Improving demand and sales successes lead to a moderate improvement in utilisation rate towards the end of the quarter. • There was one less working day than in the comparison period, profitability impact of an estimated 0.7 million euros. • Customer prices rose +0.9%, average salary +2,2%. • Number of employees grew to a total of 1,456 (1,354) people. Read the report on our site: https://hubs.ly/Q02trm-k0 #GoforeIR

33

1 kommentar

Climate initiatives in the financial industry are merely greenwashing... or are they? This was the topic of discussion during our Chief Impact Officer Tobias Thorleifsson's recent visit to Econa and Dagens Næringsliv's Content Studio. Joined by Lars Erik Mangset (Grieg Investor) and Jon Hille-Walle (Nordea Asset Manager), we delved into: - The EU's Regulatory Role: How EU directives are enforcing stricter sustainability claims to prevent greenwashing. -  Green Investments Market: The growing interest in green companies is expanding the market for sustainable investments. - Financial Returns vs. Climate Impact: Financial returns don't necessarily exclude climate impact; in fact, the two can complement each other. Watch the discussion here (in Norwegian): https://lnkd.in/d8eg-g4m and reach out to continue the conversation over a ☕ !

18

1 kommentar

Today marks 10 years of sustainability reporting as we publish our integrated annual report for 2023! Our vision and strategic ambitions to create broad stakeholder value are set out in this integrated report. We use the World Economic Forum’s four pillars of sustainable development – People, Planet, Prosperity, and Principles to frame our environmental, social and governance (ESG) performance. Within the pillars we bring together the measures of stakeholder value, present non-financial and financial reporting, describe sustainability initiatives, targets and measures for the next strategic period. DOF has reported to the GRI standards, measuring economic, environment, and social aspects since 2014 and has been a Carbon Disclosure Project discloser since 2010. Over this time DOF has engaged with stakeholder groups and improved management and performance in the areas of sustainable development. The ESG fact book in the final section of our report contains extensive detail on our company-wide performance in 2023 and includes future ambitions. Read the full report on our website: https://lnkd.in/dXHjBAcu

453

5 kommentarer

📈 Green investment is key to Finland's higher GDP pathway ! A new study by Oxford Economics has interesting findings. In 2024-2030, investment in green infrastructure and technology will rise by €22 bn. By 2030, GDP will be 2.9% higher than the Baseline in the climate leader scenario, with total fixed investment 9.5% higher.  In the study, it is estimated that Finland will export 14 TWh of clean power in 2035. In the climate leader scenario, Finnish emissions will be net zero by 2035. #electricitymarkets #greentransition

22

1 kommentar

Scaleup and FOAK funding was the focus last week in ✅ A new Nordic report by Tesi, Ilmastorahasto - The Finnish Climate Fund, Industrifonden, Almi Invest, Export and Investment Fund of Denmark, Nysnø Climate Investments, Investinor (link in comments) ✅ Cleantech Capital Day and a panel discussion on this topic with Peter, Ingvild, Johan and Mala. Thank you Cleantech Scandinavia, Magnus and the team for a very well-organized event! ✅ Project Development and Finance Clinic arranged by Action Energy Finance. Thank you Tarja and Aleksi and many others for sharing your experience and insights – especially regarding the infra-investor perspective and project finance structuring.   Few highlights from the report and last week's discussions What is the issue Scaling climate technologies often requires proving that the new solutions work in an industrial scale. Raising funding for these first-of-a-kind implementations is a challenge because these projects are CAPEX heavy, risky and have a long time to profitability. Not all climate ventures facing this challenge are real FOAKs, but a major part of scaleups have similar “early-of-a-kind challenges”. As an investment type these projects tend to fall in an empty space between VC, growth and infra-investors. Why is this important and timely Major climate impacts are delayed – sometimes forever. Similarly delayed are the economic growth and job creation opportunities these new value chains represent. The study published last week estimates that Nordic cleantech growth companies will need EUR 15 billion in venture capital funding over the next five years. The total funding demand is estimated much higher as majority of these scaling investments will be covered with debt instruments. What to do about it (few ideas) Larger dedicated funds. Funds need to be able to create a portfolio of these investments where relevant ticket size starts from tens of millions. Dedicated funds can develop expertise to support companies over the whole scaling journey. A local anchor investor with the ability to write large enough tickets could crowd-in international investors, EU and other soft funding. Scaleups could benefit from support for structuring and optimizing their full capital stack. Project de-risking. This is easier said than done, but all the possible risk that can be covered beforehand should be taken out from these projects. Successful scaleups manage to onboard industrial partners and offtakes, secure required permissions and authorizations, and fix construction costs and CAPEX. This is the key especially to raising the debt funding because lenders hate negative surprises and have no access to upside. Large corporation involvement. Getting large corporations much more involved as LP’s and investors, project sponsors, offtakers, suppliers, advisors, etc. is a must to realize planned billions of investments. Large corporations have the experience and expertise in scaling industrial operations. 

66

7 kommentarer

Tesi and the Nordic national FOFs are taking the lead on climate tech financing by showing the market facts about the Nordic climate ecosystem at a time where the climate challenge should absolutely be the priority agenda of institutions and stakeholders and every European, in particular before the upcoming 🇪🇺 European elections. 🚀 🚀 🚀 Climate investment is a source of job and wealth creation, economic growth and technology progress with deep tech breakthrough innovation! 🍀 From the study: Nordic cleantech growth companies will need EUR 15 billion in venture capital funding over the next five years to maintain previous growth rates. There’s currently approx. €6bn cleantech-dedicated dry powder aimed at the Nordics – not nearly enough to cover the demand! Huge opportunity! 💚 The pension and insurance companies as well as family offices, particularly in the Nordics, are already to a degree involved in investing in VC and growth funds in the region, and backing startups, collaborating with tax-payer funded schemes and institutions. They are showing the way to many other parts of Europe! This involvement could still significantly increase ↗ LPs are concerned about delivering both financial performance to their stakeholders as well as ⭐ positive impact ⭐. Its hard to imagine a more positively impactful investment than backing deep tech climate players today! 💚 Together with Founders Forum Group, European Women in VC is looking into the positive impact of such investments! We can't wait to share results in early June! And positive news of the day: congrats to Norrsken VC 👏 for raising the biggest Impact Fund in Europe - a real alignment of capital and purpose! Niklas Tove Agate David 👏 great work Jakob Sandell and the extended Team! cc Pia Matias Kasia Marco Carolyn Francesca Rachael Walter Lars Ingvild Lars Magnus Patrick Rannveig Ola Johan Diva Fredrik Pia https://lnkd.in/dunJaUka

55

2 kommentarer

How can we best engage Nordic citizens in the green energy transition? This is the core question of this year's Nordic Energy Challenge, where we invite all types of stakeholders to contribute with solutions to the theme of 2024 – Citizen Engagement. Now, Nordic Energy Research is pleased to present one of the jury members of 2024, who is highly qualified to assess the incoming project proposals: Kristian Borch, Senior Researcher at Ruralis - Institute for Rural and Regional Research, and Associate Professor at Aalborg University, Department of Sustainable Energy Planning. His research puts focus on renewables from a community point of view, and we asked him to elaborate on the topic of Citizen Engagement. "Citizen Engagement is a timely theme because we live in a period of transition with many changes in our energy system. To make this change a successful one, we need communities to play a more active role to create a just energy transition," says Borch. How do you hope that this year's theme can contribute to a just energy transition? "In order for the green transition to also be a just one, it needs to be perceived as a democratic transition from a community perspective. By empowering both citizens and municipalities, the local community stands a better change to harvest value from the transition, and thereby become proponents rather that opponents," according to Borch. Being an expert in public participation in renewable energy projects, what would you like to convey to those who are considering taking part in the Nordic Energy Challenge 2024? "Opposition to the green energy transition can be reduced significantly by improving spatial planning allowing local knowledge and interests to play a bigger role early in the planning process," Borch concludes. Submit your abstract for the Nordic Energy Challenge 2024 by 16 May at 13:00 (CEST) at the latest.    Read more about the Nordic Energy Challenge 2024 at: https://lnkd.in/gqFurMRe   #Nordic #Energy #Research #CitizenEngagement #GreenTransition 

19

Our Investments Sustainability Report is out and spoiler, we kept busy last year (and oh, so much more is coming this year)❤️ 🌱net zero 2040 at the latest, validated sbti targets, TNFD early adopters, nature positive framework project started, real estate selected for pilot phase of SBTi’s Buildings Project 👥 mapped salient human rights impacts, established an internal Diversity, Equity & Inclusion working group, set gender diversity targets 🌍 incorporated a sustainability capacity raising program, strengthened processes and reporting all around and focused on sustainability value creation Read all about what we’ve done - and where we’re heading! #capman #sustainability #esg

61

2 kommentarer

CFA Society Norway, along with other Nordic CFA Societies, has been invited to participate in Diversity Project Europe’s DE&I survey. The deadline for the survey is Friday, 26 April 2024. As a participant, you will gain access to a detailed report assessing the DE&I maturity across the sector, a summary of DE&I regulatory considerations, and suggested steps forward. Additionally, you will have the opportunity to attend an exclusive briefing to discuss the findings and their implications for the industry. Participants can also request a confidential benchmarking of their organisation's DE&I maturity, offering valuable insights into your company's standing and potential areas for enhancement. Completing the survey should take approximately 45 minutes, with optional sections covering gender representation and social mobility data within your organization. All information provided will be kept strictly confidential and used solely for the purpose of this study without any ranking of participating organisations. You can access the survey here: https://lnkd.in/db2piJE3   Your contribution to this study represents a vital opportunity to elevate awareness, deepen understanding of the challenges and opportunities in advancing DE&I, and drive towards a more inclusive future for the European asset management sector. Diversity Project Europe thanks you in advance for your valuable input and look forward to your participation. If you have any question, suggestions or need any clarifications, do not hesitate to reach out to info@diversityprojecteurope.com.

3

Space2CLIMB isn't just about bridging the gap between nature and finance —it's about driving progress towards a green transition. GlobalTrust Ltd and Ecogain, together with our stakeholders for this project, we are working to drive positive environmental change. ESA, Swedbank, Handelsbanken, EKN Exportkreditnämnden, Morningstar Sustainalytics, Sjunde AP-fonden, AP7, SEB, WTW Vattenfall. Together, we can make a difference! Follow us for more updates on how this European Space Agency - ESA-funded project will shape the future of sustainable financing! #GlobalTrust #Ecogain #Space2CLIMB #finance 

12

🚀 What has driven Norstat's value creation journey and recent sale to Nalka Invest and Kirk Kapital? Erling Eriksen, CEO of Norstat, and Daniel Björklund, Partner at Triton Partners, spoke to Actum Group about the strategic moves behind Norstat's sale. Key Highlights from the Q&A: 🔹 Value Creation and Growth 🔹 Leadership Excellence 🔹 Strategic Acquisitions 🔹 Digital Transformation 🔹 Sustainability Focus 🔹 Future Plans 📖 Read the full Q&A to learn more about Norstat’s journey and future plans: https://lnkd.in/d47CncWS #DigitalTransformation #Sustainability #MarketExpansion #PrivateEquity #ValueLevers #ValueCreation #Norstat #Triton #NalkaInvest #ActumGroup

51

Our Director of Finance and Administration, Sanna Ruuskanen, joined the Climate Fund in August 2021. Sanna has been the bedrock of our Fund’s growth and set-up, overseeing CFO responsibilities and playing a key role in building our administration, risk management and HR – while also maintaining ownership relations with the Ministry of Economic Affairs and Employment and facilitating cooperation with other relevant Ministries. She has also been working closely together with our Board and Investment Board.   With in-depth knowledge of government and regulation, Sanna joined us from the Ministry of Transport and Communications' Director position and her background in Law has been seminal for example for the legislative work around the Finnish Climate Fund.   “The past three years at the Climate Fund have been a great learning experience as I transitioned from a civil service career to working for a newly established, impact-driven company. It's almost impossible to summarize all the highlights from this period, but if I were to try, I would first highlight all the amazing professionals I've had the privilege to work with and to learn from: a highly skilled team, a professionally managed and competent management team, an experienced board, and all the engaging administrative stakeholders of the company. I have also had the unique opportunity to build my own team and establish the company’s compliance and administrative policies that support the achievement of strategic goals. In a state-owned company, I have also been able to leverage my knowledge and experience with the diverse processes and decision-making within public administration.”   Moving forward, Sanna would like to continue working in a management team position, driven by a positive cause, whether it be in the private or public sector.   #rekry #työnhaku #työnhakija #rahoitus #rahoitusala #finance #government #governance #administration #recruitment #jobseeker #lookingfornewchallenges 

108

Today we are at McKinsey & Company’s Green Business Building Summit in Stockholm. 📈 McKinsey’s Green Business Building Summit is a forum focused on building and scaling green business ventures and new technologies through presentations, roundtables and cross-sector networking events with founders, funders and corporate leaders. 🤝 The summits bring senior leaders from a number of different industries together to address critical challenges and showcase pivotal successes experienced by green business builders at various stages of their journey. Inge Hofkens, Aurubis COO Multimetal Recycling, Ken Nagayama, Business Development Battery Materials, and Roland Harings, Aurubis CEO, are taking part in the event. 🗨️ “Sustainable growth is a clear priority for us at Aurubis. And while Aurubis isn’t a small start-up, we make sure that we identify, introduce and commercialize new technologies and processes for our business. By finding the right mix of innovation and the right people, we can grow even faster,” Roland Harings said. #Aurubis #MetalsforProgress #TomorrowMetals #GBB24 #McKinsey

88

Have you read the Global Business Climate Survey 2024? The Global BCS 2024, launched last week and is now available online. Among the surveyed Swedish companies in 24 markets, the business climate outlook has somewhat weakened. A large percentage (82%) of the surveyed companies think Brand Sweden is even more beneficial for business than in previous years. Get more insights and read it here: https://lnkd.in/gRMewa4i

5

Read our fresh #Sustainability report! #Decarbonisation is the way to secure #infrastructure assets’ value long-term, and #Nordics is the place to be for such #investments

25

Ørsted’s FlagshipONE e-methanol project reaches new milestone UK-headquartered Carbon Clean has started the module assembly process at Ørsted’s FlagshipONE project in Sweden, also known as Europe’s largest commercial-scale eMethanol facility under construction. The first equipment has been mounted on the structural steel of the first module, Carbon Clean said, noting that once operational, its technology will be capable of capturing 70,000 tonnes of biogenic CO2 per year for Ørsted’s facility. Aniruddha Sharma, Chair and CEO of Carbon Clean, stated: “This fabrication milestone underscores how Carbon Clean is on track with delivery for this pioneering eFuel project… Carbon capture technology is essential in decarbonising hard-to-abate sectors, such as shipping, but it also brings economic benefits through the development of local supply chains.” To remind, FlagshipONE, the largest commercial-scale Power-to-X facility of the Danish energy company Ørsted, is expected to be operational in 2025 and will supply up to 55,000 tonnes of eMethanol per year to the shipping industry. Originally developed by Swedish Liquid Wind, FlagshipONE was acquired by Ørsted in December 2022, and the construction of the plant began on May 24, 2023.https://bit.ly/3WkwQj3 #methanol #sustainable #energytransition #efuel #renewable #cleanfuel #alternativefuel #maritime #marine

71

2 kommentarer

IEA says global EV sales data remain strong. The current "EV slowdown" seems to be only in Europe, and only in a handful of countries that abruptly ended their elecric car subsidy program last year. But even without any EV subsidies, over 10 per cent of German new car customers chose a battery electric car in the first quarter of 2024. Electric vehicles have never been more competitive.

10

2 kommentarer

Statkraft Enters PPA For Luminous Energy’s 28.5 MW UK Farm With Guaranteed Fixed Income For Much Of Its Output It is very interesting to note the existence of innovative financial models that reduce the risks associated with price volatility and seek to generate certainty for investors. Creative solutions emerge in the event of stress. #InnovativePPA #GreenInvestments TaiyangNews - All About Solar https://lnkd.in/ejwA5G7e

5