OP Group has significantly reduced its carbon emissions

In Estonia, we are also steadily working toward carbon neutrality in our operations and are committed to fulfilling the climate goals set by the group. 

"Investing in sustainability is a strategic priority, and our goals are set with a long-term vision," comments Hannes Kaadu, Head of OP Bank’s Estonian branch. "For the past two years, we’ve held the Green Office certification, and since 2021, we have reduced our carbon footprint by 19.4%," Kaadu added. 

Last year, over 56% of our carbon footprint was attributed to electricity consumption in our office spaces. Therefore, OP Estonia plans to adopt a 100% renewable electricity package in the coming months. 

“There is still much to do, but each step brings us closer to a sustainable future. We understand that achieving this goal requires continuous effort and innovative solutions,” Kaadu outlines for the future direction of OP Estonia. 

Ensuring supply security and reducing emissions as one of Finland's largest companies 

As one of Finland's largest corporations, OP Group is a critical operator for supply security, requiring reliable electricity for our facilities. This necessity is also why we have not yet achieved complete net-zero emissions. Standby generators, which run on fuel oil, are necessary to ensure supply security. Nevertheless, we have worked to reduce emissions in this area as well, and starting in early 2024, OP Group will use renewable fuel oil in Finland, which has a carbon footprint about 90% lower than traditional heating oil. 

“We consider our emissions reduction goal nearly met, as we have successfully brought our operational emissions close to zero. While reducing emissions remains crucial for us, as Finland’s largest corporate lender, our most significant climate impact is tied to our clients,” says Elina Erkkilä, OP Group’s Director of ESG and Corporate Responsibility. “OP Group has set long-term emissions reduction targets for both its lending and investment portfolios.” 

OP Group is committed to achieving carbon neutrality for corporate loan portfolios and managed funds by 2050. Additionally, OP Group has set sector-specific emissions reduction targets across three sectors. By 2030, we plan to reduce emissions from energy production by 50%, housing loans by 45%, and agriculture by 30%. 

"To implement the group’s sustainability program and support clients on this journey, our Baltic teams have begun participating in an online ESG training led by lecturers from Aalto University. This allows all employees to deepen their understanding of sustainability and climate change topics. By participating in Aalto University’s sustainability program, we further reinforce our bank’s sustainability-driven leadership," says Sanna Auvinen, Head of ESG for Baltic Banking.