Discussions about sustainable financial solutions will be held during the Baltic - Nordic Conference

[31.10.2018]

The Baltic - Nordic Conference “Sustainable Finance in the Baltic-Nordic” organized by the Finance Latvia Association, Finance Finland and the European Commission will take place on November 9 of this year.

The vice president of the European Commission in charge of financial stability, financial services and the capital market union, Valdis Dombrovskis, will familiarize everyone with the EC’s action plan for the funding of sustainable growth adopted on May 24. “Investments by the European Union should be made in projects compatible with decarbonization goals and countering climate change. This is important not only for the environment and the economy, but also for financial stability. Losses created by catastrophes due to extraordinary weather conditions have increased by 86% between 2007 and 2016. Proposals by the European Commission show a determination to ensure that our investments will be directed in the right direction. Proposals will use the enormous potential of the capital markets in battling climate change and will facilitate sustainability,” stated Valdis Dombrovskis during the introduction of the EC proposal.

“Anticipated changes in the EU-level framework have a significant impact, therefore we wish to facilitate a timely understanding and discussion of the impact of the framework on Latvia and our region,” stated Sandra Liepina (Sandra Liepiņa), the Head of the Finance Latvia Association. “Participants in the event will have a unique opportunity to familiarize themselves in person with the experience of members of the financial sector of the progressive Nordic Countries, their serviced companies and local governments in funding of environment-friendly, sustainability-supporting projects, as well as talk about the sustainable funding services in the EU and our region,” added the Head of the Association.

Special attention during the event will be paid to how financial bodies are planning and measuring the impact of sustainable funding; how the implementation of such measurement systems changes investment funding decisions; what additional changes will be required by the introduction of the new EU sustainable financial strategy; how the recently published IPPC report in Europe will change the requirements posed for raising funding and selecting investment projects; and how to help businesses, country and local governments to develop and introduce sustainable projects, and what are the necessary tools to do so.

""OP Corporate Bank plc." is the leading financial service company of Finland “OP Group’s” bank, therefore we are glad that Helsinki has been selected as the place where the discussion by the Baltic-Nordic financial institutions on sustainable growth will take place, supporting projects that strengthen resource-effective development. Finland has long had strong traditions directed at the preservation and conservation of the surrounding environment. They are strengthened both on a political level and by implementing a sustainability philosophy in company strategies and business processes. Progress toward the development of solutions and services facilitating the sustainable operation of companies can also be observed in the financial sector of Finland. The conference will provide its participants a broad view of the development of sustainable financial instruments, and it will also be an excellent opportunity to see our - OP Group’s - experience,” emphasized Elmars Priksans (Elmārs Prikšāns), the Head of OP Corporate Bank plc Latvia Branch.

Policy-makers, companies, representatives of local governments and the financial industry from the Baltic and Nordic Countries, including the representatives of the European Investment Bank, the Nordic Investment Bank, Nasdaq Nordic, the Parliament of Finland and the Central Bank of Finland will participate in the conference.

The partners of the event are OP Corporate Bank plc., SEB Banka, Swedbank, the European Banking Federation, the Estonian Banking Association and the Lithuanian Banking Association.