Annual report 2024

• 101 members
• 66 personal members
• 9 policy proposals
• 30 meetings with member organizations
• 36 newsletters
• EUR 1,109,614.26 in net sales
• Activities in 3 countries
• Focus on the EU
• Global cost of carbon
• Planet positive solutions
• Carbon cycles

As 2024 was

• the year of the EU elections, we supported the work of commissioners and MEPs in promoting high ambition with simple regulation.
• the hottest year on Earth on record, we worked to identify the necessary market structures to boost much-needed carbon removals.
• the year of turbulent global policies, we secured predictability of carbon pricing policies and celebrated the first global carbon pricing mechanism—so-called Article 6—entering into force at COP30 in Baku.
• the 10th anniversary of CLC, we, together with our members, created a new strategy for the next 10 years to focus our work on the most effective policies.

CEO’s review

According to climate scientists, 2024 was the warmest year on record, with global temperatures reaching 1.55°C above pre-industrial levels, surpassing the critical 1.5°C threshold for the first time. The reality of overshooting safe climate limits is becoming clear.

At the same time, global media attention shifted toward geopolitical challenges, and by the end of the year, U.S. politics dominated the agenda, pushing climate discussions into the background. But businesses continue to act.

At Climate Leadership Coalition, we made strong progress in multiple areas. Our members challenged us to focus on EU policy—and that’s exactly what we did.

We engaged directly with the new European Commission and parliament, meeting with commissioners’
cabinets and MEPs to steer climate and competitiveness policies in the right direction. Fortunately, despite concerns raised in the media, the Commission’s climate agenda turned out stronger than expected. The EU has committed to accelerating investments in clean solutions and has confirmed its goal to cut emissions by 90% by 2040—a target that CLC actively supports.

With the EU ETS and CBAM firmly in place, companies have a predictable policy framework. But this is not enough. There are several business areas where price levels are too low, or pricing does not exist yet. Also, concerns about the profitability of green products persist. That’s why, in 2024, we launched two major projects focused on key climate technologies: With carbon dioxide removals we find ways to boost the voluntary and EU markets for solutions from Nordic companies. With near zero steel we focus on ther needed action in EU level to make low carbon steel production successful and to reduce emissions drastically in the Nordic countries. Both projects will receive increased resources in 2025, ensuring even greater impact. On the global stage, carbon pricing remained our top priority—it is the single most important tool for ensuring predictability in climate investments. We worked together with governments in Germany and Canada, and alongside international organizations like the IMF, World Bank, WTO, and OECD to advance the Call on Carbon campaign calls.6

A key achievement of 2024 in carbon pricing came at COP30 in Baku, where international rules for carbon pricing under Article 6 were adopted. This milestone, which we had long championed through our Call on Carbon campaign, will enable governments to implement cost-effective emissions reductions and create new market opportunities for clean-tech companies.

The Power of real investments and bold commitments

Climate change is mitigated only through real investments and action in the field. The data proves that this is happening—not as fast as the 1.5°C goal requires, but progress is nonetheless undeniable.
Green investments continue to shape our future, with China in the lead. Clean energy sectors contributed to a quarter of the China’s GDP growth surpassing the value of real estate sales. Since September 2023, China’s emissions have plateaued, and global emissions are expected to peak within the next few years. Meanwhile, Nordic countries remain at the forefront of climate action. CLC’s members in Finland, Sweden, Estonia, and Denmark operate in regions where emissions have been consistently falling since 1990, with clear pathways toward carbon neutrality.

At CLC, we encourage our members to seize investment opportunities while maintaining bold climate ambitions. Communicating these efforts is just as important as implementing them.

We all know that CSRD reporting has been a challenging task, but now that most companies have completed their initial reports, we urge them to leverage their data, share their progress, communicate their plans and inspire others.By demonstrating how we challenge ourselves, we help grow the green market.

During its 10th anniversary year, CLC warmly welcomed new members: Outokumpu, Zero Terrain, Nordblock and ING Bank.

We have become a highly respected source of advice, and more and more people listen to our views and appreciate our work. We would not be where we are today without the determination and commitment of our members.

I trust that our members will continue their efforts on both climate change and biodiversity issues in 2025. We intend to be an important partner to all our members in this work in the coming year.

CLC believes that a profound transition to a sustainable world is imperative, economically beneficial and financeable. We promote international best practices and their adoption worldwide, such aszero-carbon energy systems, sustainable food solutions, circularity in consumer products,near-zero steel production andnew removals technologies. The Coalition’s basic principle is that profitable and sustainable business is the most effective way to respond to global environmental challenges.

During autumn 2024, we updated our strategy to focus our efforts on priority markets and the most effective market-shaping policies.

CLC’s members are apart of a leading Northern European climate-business coalition that aims to achieve a strategic policy impact. Through CLC, member organisations gain access to a results-driven coalition of leaders, actionable insights, science-based data and a platform to shape policies that enable a profitable transition to a sustainable future. More specifically:

• DRIVE MARKET TRANSFORMATION

Have a concrete impact on Nordic, EU and global climate policies to secure a competitive advantage for sustainable solutions.

• ENGAGE WITH PROMINENT BUSINESS EXECUTIVES

Get access to an exclusive network of climate leaders from diverse industries to share, learn and co-create towards a sustainable economy.

• ACCESS SCIENCE-BASED DATA AND STRATEGIC INSIGHTS

Tap into actionable policy insights and curated, science-based data on key drivers and impacts – helping you and your organisation seizefuture opportunities.

• BE PART OF A LEADING CLIMATE-BUSINESS COALITION

Demonstrate your ambition and commitment to driving the green transition by aligning with a widely recognised, high-impact leadership coalition.

At the end of 2024, CLC had 101organisational members and 66 personal members. We want to welcome our new organisational members: Outokumpu, Zero Terrain, Nordblock and ING Bank.

CLC held two annual general meetings in 2024. The spring meeting was held on 25 April 2024 and the autumn meeting on 5 November 2024.

The autumn meetingincluded there-election ofthe chair andthe election of eight members and three deputy members to the Board.The Chair is Sari Baldauf (2023-2025); the members areOlli Sirkka (2024-2026), Pekka Ala-Pietilä (2023-2025), Merja Kivelä (2024-2026), Tiina Alahuhta-Kasko (2024-2026), Ville Voipio (2023-2025), Heikki Vuorenmaa (2023-2025), Tomas Häyry (2023-2025) and Michael Rauterkus (2024-2026); and the deputy members are Åsa Jackson (2024-2025), Peep Siitam (2024-2025) and Henna Hakkarainen (2024-2025). Olli Sirkka was selected as the vice chair of the board in the January 2025 board meeting.

In 2024, CLC’s offices were locatedat Hämeentie 31 in Helsinki. CLC used Microsoft SharePoint for secure document sharing and digital working and developed a Web CRM and newslettersystem.

CLC’s operations were primarily financed through membership fees. Income from membership fees amounted to EUR 935,580 in 2024.

CLC had three focus areas in 2024: (1) effective carbon pricing, (2) positive climate solutions and (3) carbon cycles to reduce carbon dioxide in the atmosphere.

Effective carbon pricing

CLC has promoted the development of international carbon pricing systems through the Call on Carbon campaign, launched in 2021, and by lobbying for the expansion and strengthening of the EU Emissions Trading System. Our target has been to strengthen the wider deployment and predictability of the EU ETS, encourage governments globally to implement carbon pricing schemes and support and incentivise large-scale low-carbon investments.

In 2024, the Call on Carbon campaign achieved a significant milestone by accomplishing one of its three main goals.At the UN Climate Conference in Baku, the rules for an international carbon market under the UNFCCCC, known as Article 6 rules, were agreed upon. The market is now ready to be operationalised. Of the four CLC countries, bothSweden and Denmark have ratified the protocol to allow them to actively participate in the international carbon market. CLC has been actively encouraging Finland and Estonia to developcapabilities to join as well.

The Call on Carbon campaignis supported by leaders of more than 150 businesses, cities, universities and organisations. The signatories to the campaign represent more than 60 million businesses and farmers in more than 100 countries. The businesses involved in the network have a total market capitalisation of more than USD 25 trillion, and investment assets managed by representatives of the financial sector exceed USD 120 trillion. A key partner in the initiative is the International Chamber of Commerce (ICC). High-level international meetings related to the initiative have been held since 2021, particularly in conjunction with the UN Climate Change Conferences since COP26.

At the high-level panel on carbon pricing event atCOP29 in Baku, the keynote speakers and experts wereAlexander Stubb (President of Finland), Steven Guilbeault (Minister of Climate Change for Canada), Berthold Goeke(Director General on Climate Action, Ministry of Economic Affairs, Germany),Dr Ngozi Okonjo-Iweala (Director General, WTO), John W.H. Denton AO (Secretary General, ICC), Jo Tyndall (Director of the Environment Directorate, OECD),Stephane Hallegate (Chief Economist, World Bank), Ruud De Mooij (Deputy Director, IMF)and Ralp Ossa (Chief Economist, WTO). The event was moderated by Tuuli Kaskinen, CEO of CLC. The aim of the event was to discuss carbon pricing as an enabler for investments, innovations and economic growth and to promote dialogue between businesses, governments and international organisations on the matter. The event received a maximum-capacity attendance, confirming that carbon pricing is an area of rising prominence and a key tool in creating a levelplaying field for companies and investors that promises rapid progresson climate mitigation policies.

Cooperation to advance carbon pricing is building momentum towards COP30 in Belém, Brazil, where countries are expected to reveal their new commitments as well as the tools for reaching them, and carbon pricing should be a key part of the toolbox.

Planet positive solutions and carbon handprint

CLC members recognise the importance of developing robust methods to demonstrate the positive climate impacts of products. Several CLC member companies already incorporate carbon handprint metrics in their reporting, helping to quantify and communicate the positive climate impact of the downstream value chain. CLC also continued working with the Finnish government to establish carbon handprint targets aimed at increasing the positive climate impact of Finnish exports. Carbon handprint is a key climate-related topic in Finland’s government programme. The Finnish government has published its first report on carbon handprint targets, and CLC continues to refine the methodology in cooperation with policymakers. These targets should be monitored annually alongside carbon footprint metrics to ensure continuous progress.

In 2024, CLC focused on internationalising the carbon handprint methodology. As global companies require standardised tools for reporting, CLC has collaborated with the World Business Council for Sustainable Development (WBCSD) to enhance the global applicability and impact of the methodology. CLC, together with Finland’s Ministry of the Environment, Finnish Technology Industries and the Confederation of Finnish Industries, met with WBCSD and Japan’s Ministry of Economic Affairs at COP29 in Baku in November 2024. The meeting focused on exchanging insights aboutFinland’s progress in calculating the carbon handprint of its exports and Japan’s initiatives to apply the avoided emissions framework. Discussions will continue in 2025.

In collaboration with Business Finland and leading methodology developers from AFRY, SYKE, VTT and LUT, CLC has played a crucial role in refining and advancing the methodology. Joint efforts have also been made to integrate the carbon handprint model into EU legislation alongside the established carbon footprint approach. 

Carbon removal and utilization

Globally, we are likely to overshoot the 1.5°C target included in the Paris Agreement by early next decade, and globally we must prepare for significant carbon removal from the atmosphere. Estimated annual carbon removal of 7-9 Gt will be required to achieve global net zero, and even more to recover from overshoot. The former figure corresponds to the current size of the thermal coal market.In addition to carbon removals, the international community should reconsider the role of Carbon Capture and Utilisation (CCU) based on biogenic or atmospheric carbon dioxide for long-term carbon storage as part of climate policy.

Creating a sufficiently large carbon market will require significant participation from the private sector, and this also presents substantial business opportunities for pioneering companies. The European Commission is developing a voluntary carbon removal market within the EU, which may later be integrated into the EUETS. However, a carbon market solely built around the EUETS will not meet the demand required post-2050. For the period that follows, it will be necessary to develop market-based mechanisms that ensure sufficient demand and can operate on a global scale.

In 2024, CLC initiated a project to develop a recommendation to boost efficient compliance with the market for carbon removals, starting with the European Union and eventually expanding globally. The project is funded by the Confederationof Finnish Industry and EmployersFoundation (TTfoundation) and implemented in close collaboration with leadingEuropean consultants in the field.

The main objective of the project is to create and promote markets for carbon sequestration in the EU. Thiswill be achieved through three approaches:

1. Explore opportunities to integrate removals into EU ETS, possibly surpassing the voluntary market, to scale up the removal capacity.
2. Identify investor needs and propose a mechanism for much larger-scale carbon removal to be in place by the early 2030s.
3. Describe the necessary set of tools and policies to enhance the role of products and materials in storing biogenic or atmospheric carbon to support additional carbon cycles.

Project implementation began in 2024 by identifyingconsultants and key partners among CLC members. A large workshop was organised in Helsinki in January 2025.

At the end of 2024, CLC also produced a report on Nordic carbon dioxide removal (CDR) and utilisation, which was published in January 2025. The report is based on comprehensive background work andtargeted interviews with Nordic business and government representatives.CLC also organised a roundtable discussion between businesses and government representatives from Denmark, Finland, Norway and Sweden in December 2024.

The Nordic countries are climate forerunners and have significant potential with regard to carbon dioxide removal (CDR) and utilisation (CCU) technologies. However, although many projects are currently underway, policy is lagging behind. In the report, CLC calls for Nordic governments to strengthen their cooperation and develop comprehensive national strategies to support the deployment of CDR and CCU solutions. 

There are effective initiatives in the Nordic countries for scaling the necessary technology. Among these, Denmark’s and Sweden’s reverse auctions in particular deserve mention. However, building a new industrial sector requires more comprehensive thinking and cross-border cooperation. This is what the CLC advocates in its report recommendations.

The Nordic report is part of the long-running Climate Neutral Nordics project initiated in cooperation with the Haga Initiative and Skift Climate Business Leaders and funded by the Nordic Council of Ministers.

International climate policy and COP29

Globally, we are likely to overshoot the 1.5°C target included in the Paris Agreement by early next decade, and globally we must prepare for significant carbon removal from the atmosphere. Estimated annual carbon removal of 7-9 Gt will be required to achieve global net zero, and even more to recover from overshoot. The former figure corresponds to the current size of the thermal coal market.In addition to carbon removals, the international community should reconsider the role of Carbon Capture and Utilisation (CCU) based on biogenic or atmospheric carbon dioxide for long-term carbon storage as part of climate policy.

Creating a sufficiently large carbon market will require significant participation from the private sector, and this also presents substantial business opportunities for pioneering companies. The European Commission is developing a voluntary carbon removal market within the EU, which may later be integrated into the EUETS. However, a carbon market solely built around the EUETS will not meet the demand required post-2050. For the period that follows, it will be necessary to develop market-based mechanisms that ensure sufficient demand and can operate on a global scale.

In 2024, CLC initiated a project to develop a recommendation to boost efficient compliance with the market for carbon removals, starting with the European Union and eventually expanding globally. The project is funded by the Confederationof Finnish Industry and EmployersFoundation (TTfoundation) and implemented in close collaboration with leadingEuropean consultants in the field.

The main objective of the project is to create and promote markets for carbon sequestration in the EU. Thiswill be achieved through three approaches:

1. Explore opportunities to integrate removals into EU ETS, possibly surpassing the voluntary market, to scale up the removal capacity.
2. Identify investor needs and propose a mechanism for much larger-scale carbon removal to be in place by the early 2030s.
3. Describe the necessary set of tools and policies to enhance the role of products and materials in storing biogenic or atmospheric carbon to support additional carbon cycles.

Project implementation began in 2024 by identifyingconsultants and key partners among CLC members. A large workshop was organised in Helsinki in January 2025.

At the end of 2024, CLC also produced a report on Nordic carbon dioxide removal (CDR) and utilisation, which was published in January 2025. The report is based on comprehensive background work andtargeted interviews with Nordic business and government representatives.CLC also organised a roundtable discussion between businesses and government representatives from Denmark, Finland, Norway and Sweden in December 2024.

The Nordic countries are climate forerunners and have significant potential with regard to carbon dioxide removal (CDR) and utilisation (CCU) technologies. However, although many projects are currently underway, policy is lagging behind. In the report, CLC calls for Nordic governments to strengthen their cooperation and develop comprehensive national strategies to support the deployment of CDR and CCU solutions. 

There are effective initiatives in the Nordic countries for scaling the necessary technology. Among these, Denmark’s and Sweden’s reverse auctions in particular deserve mention. However, building a new industrial sector requires more comprehensive thinking and cross-border cooperation. This is what the CLC advocates in its report recommendations.

The Nordic report is part of the long-running Climate Neutral Nordics project initiated in cooperation with the Haga Initiative and Skift Climate Business Leaders and funded by the Nordic Council of Ministers.

Climate investments in cities and regions

In collaboration with the EU Mission Cities and the city of Espoo, CLC has initiated a project aimed at bolstering the role of cities and regions in facilitating clean transitions and attracting clean investments. The objective of this project is to enhance the city’s capacities and capabilities to develop transition pathways towards rapid decarbonisation.

This initiative is part of the EU Horizon programme focused on accelerating municipal climate plans and establishing a green investment framework for municipalities. The Espoo Climate Community (COMET) project is financed by the EU NetZeroCities platform forMission Cities. COMET concentrates on the involvement of various city actors in the three primary sectors responsible for the city’s emissions: energy, transport and built environment.

In the COMET project, CLC’s main role is to lead the development of cross-sectoral climate-neutrality roadmaps for business clusters and toanalyse and build capacity for climate investments. In practice, this involves (1) creating supplements to the Climate Neutral Espoo 2030 –roadmapthat target potential climate actions in the intersections of the energy, transport and construction sectors and (2) developing a climate investment framework that can be used to determine the most cost-effective and impactful private investments on which cities can concentrate their efforts. A priority for CLC is that the investment framework can be applied universally and shared with other cities committed to a green transition.

On a general level, CLC has provided expertise in building business cooperation, accelerating climate investments and supporting a green transition that is economically beneficial, viable and financeable. CLC’s wide-rangingnetwork of businesses, cities and research institutionshas been utilised to engage key business actors in and around Espoo, and CLC will also contribute to the dissemination of the project’s findings internationally in September 2025.

During 2024, CLC undertook preparations and engaged a third-party consultant, Sweco, through a competitive bidding processto develop the aforementioned roadmap supplements and investment framework. Inputs for Sweco’s work were collected during a workshop held in December 2024, attended by businesses and other city actors including CLC members and Espoo’s climate partners from the energy, transport and construction sectors.The workshop was a success, with a large number of participants voicing their interest and commitment.Two additional workshops are scheduled for February and April 2025, after which the climate investment roadmap will be finalised for release at a dedicated event in September 2025.

The COMET project will continue until spring 2026.

In 2024, the Climate Leadership Coalition (CLC) played a pivotal role in shaping climate policy both within the Nordic region and on a broader European scale. Our most significant public statement concerned the EU Commission’s work programme following the summer 2024 elections. Before the elections, we issued a joint appeal with organisation leaders to maintain existing climate goals. The statements submitted to the Finnish Parliament addressed the 2040 climate target and the government’s annual climate report. 

Through strategic discussions, policy proposals, statements and active participation in key climate events, CLC has consistently worked to ensure that business-driven solutions to reduce emissions remain a priority for policymakers.

The year 2024 was the last of Ursula von der Leyen’s first commission, reflected in a lower number of political initiatives and requested statements compared to previous years.

In 2024, the Climate Leadership Coalition (CLC) played a pivotal role in shaping climate policy both within the Nordic region and on a broader European scale. Our most significant public statement concerned the EU Commission’s work programme following the summer 2024 elections. Before the elections, we issued a joint appeal with organisation leaders to maintain existing climate goals. The statements submitted to the Finnish Parliament addressed the 2040 climate target and the government’s annual climate report. 

Through strategic discussions, policy proposals, statements and active participation in key climate events, CLC has consistently worked to ensure that business-driven solutions to reduce emissions remain a priority for policymakers.

The year 2024 was the last of Ursula von der Leyen’s first commission, reflected in a lower number of political initiatives and requested statements compared to previous years.

Policy proposals to the European Commission

• CLC’s feedback to the proposal for a regulation onmonitoring framework for resilient European forests, 7 February 2024
• Response to the Strategic Dialogue of the future of EU Agriculture, 3 April 2024
• Policy suggestions for the next EU Commission working programme, 2 May 2024
• Organisation leaders: “A lot is at stake in the EU elections – we must adhere to the climate goals”, 27 May 2024
• CLC Policy brief addressing the need for large scale anthropogenic and biogenic carbon sinks in achieving Paris agreement goals, 7 June 2024

Statements submitted to the Finnish Parliament and agencies

• Statement to the Commerce Committees of the Finnish Parliament onthe EU’s 2040 climate target and progress towards climate neutrality by 2050, 8 April 2024
• Statement to the Commerce and Environment Committees of the Finnish Parliament on the EU's 2040 climate target and progress towards climate neutrality by 2050, 8 April 2024
• Statement to the Commerce Committee of the Finnish Parliament on the Government Annual Climate Report 2024, 3 October

International letters

• Business Networks Call on G20 Leaders with Joint Letter from COP29 in Baku, 16 November 2024

The CLC team also met with a number of EU Commission officials and MEPs for strategic discussions ahead of and after the EU elections. MEPs and EU Commission representatives also participated in CLC theme groups and webinars during 2024, especially from DG Clima but also DG Growth and DG Environment, relating to climate and energy, agriculture policy and industrial growth. Further, CLC events have consistently featured representatives from Nordic ministries, presenting national positions on various topics such as climate negotiations, carbon removals and energy policy. CLC has also been invited to meetings with, e.g.,the German political party CDU and NGO gatherings with the Renew Group in the EU Parliament. In 2024, CLC was accepted as an EU Climate Pact Partner organisation and has since regularly attended network meetings.

Biodiversity master class

In response to member requests, CLC introduced biodiversity as a key topic. In 2024, we continued to host biodiversity master classes for CEOs with Professors Anna-Liisa Laine (University of Helsinki) and Tomas Roslin (Swedish University of Agricultural Sciences).

Fifty CEOs, mayors and executives from CLC member organisations and other Northern European businesses attended the sessions, held in collaboration with the Tiina and Antti Herlin Foundation at Puistokatu 4 on 14/3/2024 and 13/5/2024. These leadership courses, which built on the 2023 concept, explored biodiversity from a business perspective.

CLC is finalising a white paper on nature and has raised awareness on its key themes and COP16 through two autumn webinars, featuring Eric Usher, Head of the UNEP Finance Initiative.

EU Carbon removals policy event with dr. Ottmar Edenhofer in Helsinki

In January 2024, CLC hosted Professor DrOttmar Edenhofer, Chair of the European Scientific Advisory Board on Climate Change, for a CEO event in Helsinki focused on the future of EU emissions reductions and carbon removal targets.

Additionally, meetings with civil servants and a public panel discussion at Think Corner were arranged. The visit was organised in collaboration with CLC, the Minister for Climate and the Environment Kai Mykkänen and the University of Helsinki’s ACCC programme.

Policy event with Finnish prime minister Petteri Orpo

In October 2024, CLC hosted Finnish Prime Minister Petteri Orpo at Munkkiniemi Manor.

Petteri Taalas emphasised that tackling climate change is economically wiser than facing its consequences, noting that the 1.5°C threshold will likely be exceeded.Mika Anttonen warned against removing regulatory support before new technologies reach scale. CLC and Boston Consulting Group presented strategies to leverage market forces for carbon neutrality. Prime Minister Orpo stressed the need for regulatory efficiency and EU-wide cooperation for a successful green transition.

EU policy dinner with commissioner Wopke Hoekstra in Helsinki

In June 2024, the European Commissioner for Climate Action, Wopke Hoekstra, visited Finland and met CLC’s members in a roundtable event on carbon removals in Helsinki. This roundtable kick-started our larger project for carbon removals. The event was held as a dinner at Hotel Savoy, attended by ten CLC members in addition to Hoekstra’s staff.

At the event, Climate Commissioner Hoekstra was presented with CLC’s recommendations for the upcoming commission’s work programme, as well as a policy brief on the need for large-scale anthropogenic and biogenic carbon sinks to achieve Paris agreement goals. The commissioner, in turn, provided an update on preparations in Brussels. Discussions covered various topics within climate policy and technology, such as carbon removal, renewable energy, electrification and hydrogen production prospects.

CEO event in Stockholm

In October 2024, CLC and SEB co-hosted the Nordic Perspectives seminar in Stockholm, bringing together Nordic CEOs and board chairs to discuss clean investments, biodiversity leadership and CLC’s strategy in the region.

Marcus Wallenberg highlighted the financial sector’s role in a low-carbon transition, while Tuuli Kaskinen and Kalle Sundström outlined Nordic emissions and clean energy strategies. Professor Tomas Roslin underscored biodiversity as an economic priority. The event reinforced the need for strong policy support, corporate action and collaboration.

In 2024, CLC organised three webinar series. The first series discussed the next EU Commission working programme,the second introduced nature and biodiversity topics to CLC members and the third prepared CLC members for COP29.

BRUSSELS BRIEFINGS were organised in March, April and May, gathering CLC members’ thoughts and inputs on the next working programme of the EU Commission. At the same time, the webinars offered members an opportunity to interact with MEP candidates, experts and EU Commission representatives such as Kurt Vandenberghe, Director General of the European Commission’s DG CLIMA. On 2 May, CLC launched its policy recommendations for the next ‘Simple policies with high ambition’, produced by theEU Commission, as a result of the dialogue with the CLC members.

The ROAD TO COP webinar series took placebefore the UN climate conference in Bakuto provide members with key insights into the negotiations. Led by CLC CEO Tuuli Kaskinen, the series covered Nordic priorities, climate finance and post-summit reflections.The first webinar in October featured the chief UNFCCC negotiators from Denmark, Finland and Sweden, who outlined the key Nordic objectives. In November, a second webinar focused on carbon pricing as a tool for financing the green transition, with insights from GFANZ’s Ben Weisman and EU negotiator Outi Honkatukia, alongside comments from Erkki Liikanen. A final webinar in late November reviewed the outcomes of COP29 and looked ahead to COP30.

BIODIVERSITY INSIGHTS webinars brought together experts from academia, business and policy to discuss the integration of biodiversity into corporate decision-making.The first webinar featured insights from Eric Usher, Head of the UNEP Finance Initiative,and Ilari Sääksjärvi, Professor at the University of Turku and Vice-Chair of the Finnish Nature Panel, as well asdiscussionson the value of nature and its role in the economy. Corporate and research perspectives were provided by Heikki Holmén, from Fortum, and Leif Schulman, Director General of the Finnish Environment Institute.The second webinar examined the outcomes of COP16 and their implications for biodiversity policy. Marina von Weissenberg, from the Finnish Ministry of the Environment, presented key global agreements, which was followed by talks on biodiversity leadership by Anne Quarshie from the University of Turkuand multispecies justice by Christopher Raymondfrom the University of Helsinki.

Zero emissions day

In 2024, CLC was involved in planning upper secondary school students’ Zero Emissions Day challenge for companies and participated in the organisation of two Zero Emissions Day events.

Students from Espoo, Lempäälä and Tampere challenged a group of companies to describe their most positive climate actions of the year for Zero Emissions Day on 21 September 2024. Winners were announced at the Lempäälä Virta Campus Gala on Friday 20 September 2024.

CLC helped organise a networking event at Lempäälä’s Ideapark, where local organisations showcased their climate solutions. The event aimed to raise awareness among citizens, decision-makers and parishioners about environmental issues and opportunities for emissions reductions. Otaniemi Upper Secondary School also held a Zero Emissions Day event on 19 September, streamed via the Lukema network.

CLC’s theme groups give members an opportunity to network and learn from each other, contribute to the preparation of CLC’s impact work and hear from visiting experts. CLC organised a total of 31theme group meetings in 2024. Most of the events were conducted online in English, and the guest speakers included experts from various businesses and research organisations as well as representatives of the authorities of other Nordic countries and the European Commission. In 2024, CLC comprised ninetheme groups, along with a strategy leaders’group and a climate policy group.

Carbon footprint and handprint theme group

The goal of the Carbon Footprint and Handprint theme group is to facilitate discussions on incorporating carbon footprint and handprint methodologies into international standards, initiatives and EU legislation, as well as their application at the company level. The group exchanges knowledge on the development of carbon footprint and handprint calculation methodologies and communication without the risk of greenwashing.

The theme group had four meetings in 2024, on topics including:

• EU Commissions proposal for the 2040 climate target
• Requirements of CSRD and ESRS E1 standards for greenhouse gas emissions reporting
• The Carbon Border Adjustment Mechanism (CBAM)
• Avoided emissions methodology
• The carbon handprint of Finnish and Danish exports

Cities for green growth theme group

The purpose of the Cities for Green Growth theme group is to accelerate green growth in cities and regions. One aim is to develop the use of the carbon handprint methodology in cities and regions in the Nordics and the EU. It will serve as a reference group for CLC’s PilotCities project until the end of the project. In this group, leaders in vitality and economicsdevelop ideas to create linkages between cities and businesses for closer collaboration.

The theme group convened three times in 2024. The topics discussed included lobbying in the EU, attracting green investment and growth in citiesand preventing nature losses in cities.

The theme group will continue to work on themes related to green growth in 2025 and will also monitor the upcoming Pilot Cities programme, which CLC is working on in cooperation with the City of Espoo. 

Climate and health theme group

The purposes of the Climate and Health theme group are to increase understanding of the health-related societal and economic impacts of climate change and biodiversity loss, identify ways to reduce the carbon footprint of the health sector and promote preparedness for climate impacts and climate adaptation. The members also acknowledge other climate-imposed health-related risks and propose that health be addressed as part of European climate plans. The theme group convened four times in 2024.

The theme group’s priorities for 2024 were:

• Increasing understanding of the direct and indirect health-related societal and economic impacts of climate change
• Nature and health research and nature-based interventions to address health problems 

Finance and economy theme group

The Finance and Economy theme group aims to advance carbon pricing and improve comprehension of the economic risks and opportunities associated with climate change and evolving climate policies.

Thegroup convened three meetings in 2024.The first was held in March, before the EU election, during which discussions centred onexpectations regarding the finance-related climate initiatives of the new EU Commission. At the June meeting,discussions focused on the need for a holistic land use plan to enable enhanced carbon removals within the EU. In October, thetheme group evaluated new information regarding adverse climate-related impacts on economy and finance.

Happy future of food theme group

By 2050, there will likely be nine billion people to feed globally. In the Nordics, food production is increasing while adhering to a commitment to carbon neutrality. The goal is not just sustainable food but happy and tasty food.

The group explores new ideas in food and agriculture. Currently it is preparing for upcoming rules and regulations, especially as the EU looks at food ETS and emissions targets for 2040 and 2050. The theme group convened three times in 2024.

The theme group’s priorities for 2024 were:

• EU ETS extension to the food and agricultural sector
• Low emissions school food in municipalities

Nature as an integrated part of corporate strategies

With biodiversity becoming a more prominent part of CLC’s agenda in 2024, this working group was established to consider a market-based approach to enhancing biodiversity. The working group’s efforts will result in a CLC position paper outlining necessary actions to support biodiversity. The group met four times during the year, with participation from several international experts.The working group is set to finalise the position paper in early 2025.

Smart and clean mobility theme group

The objective of the Transport theme group is to deliberate on how to achieve ambitious emissions reductions in the transport sector, particularly logistics, through a smart, competitive, safe, accessibleand affordable transport system. It explores the transformative role of digital technologies in greening and optimising mobility, emphasising innovation and data.

In 2024, the group met four times. The meetings explored:

• The potential of new vehicle fleets in reducing CO₂ emissions
• Promoting hydrogen and other alternative fuels
• Prerequisites for the electrification of vehicle technology and low-carbon road transport

Sustainable forestry theme group

The objective of the Forest theme group is to develop a holistic vision for the forest sector’s role in climate mitigation.The group’s former chair resigned from his position at the beginning of the year, resulting in the group holding only one meeting under the leadership of the new chair, Professor Ali Harlin, who took up the role later in the year. The meetings focused on the differentforest-use strategiesand their trade-offs with regard to climate mitigation.

The theme group’s priorities for the year 2024 were:

• The role and prospects of the forest sector in promoting the EU-wide bioeconomy
• Challenges and business models related to the multiple use of forests

Zero-carbon energy systems theme group

The Energy theme group focuses on developing smart, flexible and low-carbon solutions for the energy market. The theme group was chaired by Vice President Antti Arasto from VTT and director Erik Skogström from Sweco. The group’s facilitator was Juha Turkki. In late spring, Erik Skogström moved to another employer and resigned from the chairship. In its 2024 meetings, the group assessed the reform of the European electricity market model and carbon capture solutions.

In 2024, the group met twice. In the spring meeting, the group discussed the European Commission’s emissions reduction assessment for 2040 and the outlook for clean investments in Finland and Sweden. In the autumn meeting, the group considered the outlook of the international oil giant Shell with regard to the company’s potential future scenarios.

The theme group’s priorities for 2024 were:

• Developing a market model for the energy market and necessary policies to secure sufficient investment in low-carbon energy production and critical infrastructure, including renewables, nuclear production and the hydrogen economy
• Disseminating information on best practices for low-carbon energy solutions

Strategy leaders for planet positive value chains

The Strategy Leaders theme group drives and facilitates the development of business strategies from the perspective of green growth, net-zero targets and biodiversity. It is a peer-to-peer group for strategy leaders of large companies.

The work of the Strategy Leaders theme group was conducted in cooperation with Combient Pure. The theme group was co-chaired by Combient Pure’s Marika Määttä and CLC’s Tuuli Kaskinen. The group met three times in 2024 and focused on the mutual exchange of expertise and information between strategy leaders.

Climate policy consultation

The primary target of the Climate Policy Group is to help draft and comment on CLC’s policy proposals and statements to the EU and its Member States. The group mainly communicates via email to comment on CLC’s policy initiatives. this group was chaired by CLC’s Juha Turkki.

CLC board

The composition of CLC’s Board was as follows until the Annual Autumn Meeting of 2024:

Sari Baldauf (Chair)

Karl-Henrik Sundström (Vice-Chair)

Nathalie Ahlström

Tiina Alahuhta-Kasko

Pekka Ala-Pietilä

Merja Kivelä

Heikki Vuorenmaa

Ville Voipio

Tomas Häyry

Deputy members:

Seppo Parvi

Riikka Joukio (Deputy Member of the Board until June 2024)

Åsa Jackson

Vanessa Butani

Secretary (non-board member):

Lena Höglund

CLC staff

Tuuli Kaskinen, Chief Executive Officer

Juha Turkki, Development Director, Systemic Climate Solutions

Minttu Liuhto, Specialist, Agriculture and Food, on leave starting 18/9/2024

Senni Raunio, Specialist, Member Relations and Project Development

Lena Höglund, Office Coordinator

Jaime del Valle Ortiz, Junior Specialist (EU climate policy intern), 28/8/2023-28/3/2024

Minna Vertainen, Campaign Coordinator, 3/4-10/5/2024

Tatu Kähärä, Junior Specialist (COP29 and COMET project intern), 2/9/2024-31/5/2025

Anna-Leena Raij, Community and Communications Lead, 1/12/2024-

External advisors 

Sari Siitonen, Senior Advisor, Carbon Footprint and Handprint

Timo Tyrväinen, Chief Economist

The autumn meeting confirmed the action plan, budget and fees for the upcoming calendar year. CLC charges no joining fees from new members. Membership fees have remained unchanged since the beginning of 2024.

• EUR 11,000.00 for large organisations (net sales of MEUR 50 or more)
• EUR 5,500.00 for small organisations (net sales of less than MEUR 50)
• EUR 5,500.00 for small associations (with fewer than 20 persons)
• EUR 2,500.00 for foundations and start-ups
• EUR 20.00 for personal members

CLC’s operations were primarily financed through membership fees. In 2024, income from membership fees amounted to EUR 935,580.00 (2023: EUR 911,909.00), income from grants to EUR 167,224.86 (70,975.95) and income from other sources to EUR 6,809.40 (103,900). CLC’s expenses totalled EUR 1,038,074.51 (1,096,722.74). The financial result for 2024 was EUR 67,247.24 (-10,168.79). CLC’s equity when books were closed stood at EUR 342,214.91 (274,967.67).

CLC’s income and expenses in2024 were estimated atEUR1,256,456.00 as per the autumn meeting of 2023.

The Board metfive times in 2024, in addition to three per capsulam meetings. CLC’s auditors are Tiliextra Oy, with Kristian Seemer as the auditor-in-charge and Tiliextra Oy as the deputy auditor.

CLC’s key actions to minimise its carbon footprint focus on limiting air travel and offsetting carbon emissions from necessary journeys.

CLC’s staff travelled a total of 42,357.16 kilometres in 2024. The resulting emissions (approximately 6,3962 kg/CO2) were offset four times over through the UN Climate Neutral Now service, which promotes solar power generation at Jaisalmer, Rajasthan, India.