Commitments and policies

Signatory investors of the Climate Action 100+ influence those listed companies that are the world’s largest greenhouse gas emitters. OP Asset Management is a signatory member.

In 2021, OP Real Estate Asset Management joined Global Real Estate Sustainability Benchmark (GRESB). 

OP Asset Management is a part of the IPDD Initiative, which was begun in 2020 with a focus on countering deforestation. The IPDD seeks to ensure long-term financial sustainability of investments in the countries invested in, by promoting sustainable land use and forest management and respect for human rights.

The ILO Declaration on Fundamental Principles and Rights at Work is an expression of commitment to uphold basic human values - values that are vital to our social and economic lives. It affirms the obligations and commitments that are inherent in membership of the ILO, namely freedom of association and the effective recognition of the right to collective bargaining, the elimination of all forms of forced or compulsory labour. the effective abolition of child labour. the elimination of discrimination in respect of employment and occupation, and a safe and healthy working environment.

OP Asset Management Ltd and OP Real Estate Asset Management Ltd joined the international Net Zero Asset Managers Initiative, reinforcing their public pledge of carbon neutrality by 2050 or earlier. NZAM provides a clear framework of reference for setting goals and reporting.

OP Real Estate Asset Management signed the Net Zero Carbon Buildings Commitment of the World Green Building Council in 2020.

The PBAF aims to develop a common standard for biodiversity metrics for financial institutions. OP Financial Group joined in January 2024 PBAF as a partner.

Partnership for Carbon Accounting Financials aims to develop and implement a harmonised approach to assessing and disclosing greenhouse gas emissions associated with partners’ loans and investments. OP Financial Group became a signatory member of PCAF in July 2022.

The Task Force on Climate-related Financial Disclosures has drawn up recommendations on how companies should report on the economic impacts of climate change on their business. Identifying and analysing drivers of change in the business environment forms part of the risk identification procedure. In the continuous risk identification process, Risk Management and representatives of internal stakeholders assess any risks – such as climate change and the ageing population – that might have a direct impact on OP Financial Group’s business activities in the short term and/ or the business environment in the longer term, and thereby affect OP Financial Group’s business activities.

The environmental management of OP Financial Group’s offices is based on the WWF Green Office system. The WWF Green Office environmental management system helps workplace reduce its carbon footprint and use natural resources sustainably.

In 2011, OP Financial Group signed the UN Global Compact initiative and undertook to comply with the ten principles in the areas of human rights, labour, the environment, and anti-corruption. The Global Compact principles form part of all our new supplier agreements. Compliance with the principles is also visible in our personnel: our employees are committed to complying with the principles of good business practice and participating in CR training. 

OP joined Climate Ambition Accelerator programme in June 2022. It is an accelerator programme led by the UN Global Compact designed to equip companies with the knowledge and skills they need to accelerate progress towards setting science-based emissions reduction targets aligned with the 1.5℃ pathway, setting them on a path towards net- zero emissions by 2050.

OP Financial Group became a Founding Signatory of the Principles for Responsible Banking under the United Nations Environment Programme Finance Initiative (UNEP FI) in September 2019. The Principles set out the banking industry’s responsibility in shaping a sustainable future and aligning the sector with the objectives of the UN Sustainable Development Goals and the Paris Agreement. The Principles enable banks to embed sustainability across all business areas and leverage new business opportunities created by the emerging sustainable economy. OP Financial Group is stepping up its commitment to corporate responsibility by embedding it in our investment and lending processes and growing the share of responsible products and services in our offering.

OP is among the 38 signatory banks of the Collective Commitment to Climate Action (CCCA). The initiative supports the transition to a net-zero carbon economy by 2050.

UNEP FI PRB Self Assessment Template and Limited Assurance Report 2023

Pohjola Insurance committed to the UN Principles of Sustainable Insurance as of 1 January 2022. The Principles complement the UN Global Compact Principles, UN SDGs and the Paris Climate Agreement. The Principles are followed by considering the material ESG-questions in insurance business.

UN PSI Report 2023

In 2009, OP Asset Management Ltd, OP Fund Management Company Ltd and OP Real Estate Asset Management Ltd were among the first such companies in Finland to sign the Principles for Responsible Investment (PRI) supported by the United Nations. Nowadays both companies annually report on the implementation of the principles.

EACB supports the political goals for creating sustainable and climate friendly frameworks to radically decrease the risks and consequences of climate change. OP is a member of the EACB.

Finance Finland is a network that collects the Finnish financial industry’s organisations together and promotes its members interests in various ways. Finance Finland contributes to legislation and decision making related to the financial industry.

FINSIF ry promotes sustainable investing in Finland by offering networking and information sharing. FINSIF organizes events that cover current themes in sustainability throughout asset categories. OP is a founding member of FINSIF, founded in 2010.

The green bonds of OP Corporate Bank and the green covered bonds of OP Mortgage Bank are in line with the ICMA Green Bond Principles.