Targets

We will offer sustainable financing and investment products to our customers

Our product range will cover sustainable financing and investment products

• Goal: Sustainable financing products will account for at least 8 billion euros of total commitments by the end of 2025

• Goal: Sustainable funds will account for 60% of fund assets by the end of 2025

We will decrease emissions across our loan and investment portfolios  

OP Corporate Bank is committed to ensuring that its corporate loan portfolios are carbon neutral by 2050. A corresponding goal has been set for OP cooperative banks’ corporate loans. OP Asset Management and OP Fund Management Company are committed to ensuring that the funds they manage are carbon neutral by 2050.

• Goal: OP Financial Group will cut 25% of its corporate loan portfolio emissions by 2030 compared to 2022

• Goal: OP funds will halve their greenhouse gas emission intensity by 2030 compared to 2019

• Besides various sustainable investment and financing products, the range of tools includes investment decisions promoting the achievement of our goals and active dialogue with our clients and investees

• We require that large companies subject to high climate transition risk prepare company-specific emission reduction plans by the end of 2025

We will promote the circular economy in our business and that of our customers

We will promote digital payment methods and replace the payment cards we issue with ones made from recycled plastic 

• Goal: In 2026, 100% of payment cards issued by OP will have been replaced with ones made from recycled plastic as part of the normal card replacement cycle

We will promote the circular economy as part of our business

• Goal: We will finance projects related to the circular economy as part of sustainable finance and maintain active dialogue with our investees. We will identify actions promoting the circular economy in our insurance business. 

We will become carbon neutral by 2025

OP will become carbon neutral in its operational emissions by 2025

• Goal: Net zero emissions for scope 1 and 2

We will promote biodiversity and the wellbeing of nature

We will identify any negative impacts our operations have on biodiversity and take measures to reduce biodiversity loss

• Goal: We will prepare a biodiversity review in 2022 and a biodiversity action plan in 2023

We will enhance the sustainability of Finnish agriculture in terms of its profitability and environmental friendliness

• Goal: We will develop the competencies of specialists working with agricultural customers and improve the knowledge of farmers by entering training partnerships. We will launch the related measures in 2023

We will foster a diverse, inclusive and non-discriminatory culture

We will foster a diverse competence base in our business units

• Goal: At least 40% representation of each gender in executive positions by 2025

• Goal: Employee experience of management’s commitment to the promotion of diversity, inclusion and non-discrimination; personnel survey 2025: >4.0

Employees view recruitments and career transitions as fair, incentivising them towards continuous development

• Goal: Employee experience of diversity and non-discrimination in career transition and recruitment; personnel survey 2025: >4.0

• Goal: Trend in feedback from job applicants

We will promote the wellbeing of our local communities

We will enhance the wellbeing of children and youths, their confidence in the future, and support the employment of young people

• Goal: Number of children and youths reached through leisure activities sponsored by OP; 200,000 persons per year

• Goal: Summer jobs for young persons paid for by OP; 2,000 summer jobs per year

We will support the management of personal finances and improve financial literacy

We will improve financial literacy to give everyone equal opportunities to manage their finances

• Goal: Number of children and youths reached through financial literacy training events and projects organised by OP cooperative banks and partners, 70,000 persons per year

We will help customers with special needs to manage their finances

We will help customers with special needs in their independent, multichannel and easy use of banking and insurance services and promote their digital skills

• Goal: Customers reached in training events on digital skills, 20,000 persons per year

We will identify the impact of our operations on human rights

We will carry out a self-assessment of the human rights impacts of our operations based on which we will draw up a human rights policy to improve our operations

• Goal: Creating a human rights policy and an action plan addressing our key impacts based on the self-assessment by the end of 2023

We will integrate sustainability with all our business operations and risk-taking

We will guide our customers in preparing for and adapting to the various effects of climate change and the related risks. We will monitor developments in the regulation of sustainable finance and the EU taxonomy, because they will change our business environment and the basis of our success.

• Goal: We will use scenario work to assess the impact of climate and environmental change on the success of our customers and OP Financial Group

• Goal: Our sustainability reporting is reliable and easy to understand

• Goal: We will comply fully with regulatory requirements related to anti-money laundering and sanctions

• Goal: We will link ESG factors to OP Financial Group’s risk reporting by the end of 2023

We will use data and artificial intelligence responsibly

We will annually report on the responsible use of data capital at OP Financial Group

We will require our partners to commit to our Supplier Code of Conduct

We will increase the number of suppliers committed to our Supplier Code of Conduct

• Goal: 100% of contract suppliers in OP’s supply chains will commit to our Supplier Code of Conduct by 2025

We will increase diversity in our governing bodies

We will ensure diverse membership of supervisory councils and boards of directors in
OP cooperative banks and the central cooperative to help OP Financial Group succeed  

• Goal: The Group-level gender balance of supervisory councils and boards of directors of
  OP cooperative banks and the central cooperative will be at least 40–60% by 2025

We will further improve the sustainability competencies of our personnel

We will further improve the sustainability competencies of our personnel and governing body members by offering ESG training

• Goal: We will increase our training offering to various target groups

• Goal: OP Financial Group’s personnel will complete training on the sustainability programme during 2023