The Climate Leadership Coalition (CLC) believes that a comprehensive global transition to a sustainable society is not only possible but also economically justifiable and financially viable. CLC is one of the largest non-profit climate business networks in Europe, with offices in Finland, Sweden, Denmark and Estonia. Our members strive to be leaders in the fight against climate change in their respective fields. Our goal is to introduce business solutions that collectively will have a significant positive impact on our planet’s climate and ecology.

98 members, 65 personal members --- 9 policy proposals --- 30 meetings with member organizations

EUR 1,086,554 in net sales --- Activities in 3 countries --- Focus on the EU

Global cost of carbon dioxide --- Positive climate impacts --- Carbon cycles

The year 2023 brought grim news for the climate. The annual average temperature was only hundredths of a degree from the limit of 1.5 degrees Celsius above pre-industrial levels, as set by the Paris Agreement. As scientists predicted in the previous IPCC Assessment Report, we are set to overshoot this safe warming limit considerably.

It is clear that in the next phase of climate work, large-scale investments in carbon sequestration from the atmosphere must be introduced alongside emissions reductions. This is a good challenge for the Nordic climate solutions ecosystem. We have the capabilities to develop and commercialize technologies that use carbon dioxide, but this requires that political decision-makers actively create a market and demand.

From the perspective of climate investments, 2023 was a divided year in the Nordic countries. The number of investment plans announced in the first half of the year increased in all Nordic countries, but progress on implementation slowed in the autumn. The reasons are manifold. While rising interest rates have played a role, investors were prepared for this trend. Rather, massive national subsidies in the United States and China have led to decisions to invest outside Europe. Uncertainty about the effects of the balance between energy production and consumption on energy prices and consumption have also slowed decision-making. This will have an impact on both the realization of emissions reductions and the export potential of clean technology in the coming years.

In terms of international climate policy, 2023 will be remembered for the joint declaration by all countries of the world, made at COP28 in Dubai, to phase out fossil fuels. From the Nordic perspective, this seems an obvious step, but internationally it can be considered a significant achievement.

In 2023, CLC continued its determined efforts to curb climate change, facilitate climate-friendly business and build an operating environment that promotes scalable solutions. We also developed a strategic initiative by putting issues related to nature and biodiversity on our agenda.

We work in close cooperation with our members to come up with new ways for society to accelerate the green transition and reduce emissions. Our members are among the global leaders in the fight against climate change in their respective fields. Our goal is to introduce business solutions that collectively will have a significant positive impact on our planet’s climate.

CLC’s most recent year of operation was first defined by the parliamentary elections in Finland. We started the year by publishing the analysis Finland’s Moonshots for Green Growth, with significant support from our new member Boston Consulting Group, and we invited key politicians in Finland to hear climate scientist Johan Rockström discuss the next steps in Finland’s climate policy. We continued this work by publishing our proposals for the new government programme and offering our support to the government negotiators. We organized a land use event in Brussels in the autumn to coincide with the publication of our position paper on the Holistic Land Use Plan to the EU. Our impact work was led by Development Director Juha Turkki.

In the autumn, we focused on international climate policy, especially in conjunction with COP28. We organized two big events as part of our Call on Carbon campaign in 2023 to promote global carbon pricing in partnership with the WTO, the World Bank, the International Monetary Fund and the Coalition of Finance Ministers for Climate Action. Senni Raunio had the main responsibility for these efforts.

We also built structures to support our member collaboration by developing our intranet, implementing a CRM system and launching a reform of the theme groups late in the year. The contribution of our Office Coordinator Lena Höglund in these projects has been invaluable.

CLC’s membership also expanded, and we would like to welcome Nokia, Marimekko, Boliden, Compensate Foundation, FinnoExergy, Mehiläinen, Carbo Culture, Hussein al-Taee, Timo Harakka, Maria Ekström, Arto Tenhunen, Esko Kivisaari, Pekka Haavisto, Mari Pantsar and Pekka Morén.

CLC’s role is to encourage decision-makers to speed up the clean transition by attracting investment via predictable and ambitious policies and systemic market-driven solutions.

I am happy with the impact that CLC has had and is having on European economic, industrial and climate policies. 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 2024. We intend to be an important partner to all our members in this work in the coming year.

March 2024

Tuuli Kaskinen

CLC’s mission is to boost the competitiveness of businesses and research organizations as well as their ability to respond to the threats posed by climate change and the scarcity of natural resources and to take advantage of the business opportunities associated with these challenges. CLC promotes international best practices and their adoption worldwide. The Coalition’s basic approach is that profitable and sustainable business is the most effective way to respond to global environmental challenges.

CLC pursues its mission by:

• bringing together private and public organizations as well as individuals who share its objectives;

• pooling and sharing information with its members about global environmental trends and comparing best practices introduced in other countries;

• initiating development projects that support its mission;

• making proposals to ministries and government agencies on developing the innovation system and research programs;

• organizing seminars and events to raise awareness and identify new business opportunities;

• acting as a collaborative platform for its members and representing its members in international cooperation organizations;

• identifying expertise to use as a model for efficient mitigation of climate change and communicating this via international forums, and

• taking other action as required to promote its cause.

At the end of 2023, CLC had 98 organizational members and 65 personal members. Seven new organizational members joined the Climate Leadership Coalition in 2023: Nokia, Marimekko, Boliden, Compensate Foundation, FinnoExergy, Mehiläinen and Carbo Culture. In addition, eight personal members joined the Coalition.

CLC held two annual general meetings in 2023. The spring meeting was held on 17 April 2023 and the autumn meeting on 13 November 2023.

The autumn meeting saw the election of a new chair as well as nine members and four deputy members to the Board: the new Chair is Sari Baldauf (2023-2025); the members are Karl-Henrik Sundström (2022-2024), Pekka Ala-Pietilä (2023-2025), Merja Kivelä (2023-2025), Nathalie Ahlström (2022-2024), Tiina Alahuhta-Kasko (2022-2024), Ville Voipio (2023-2025), Heikki Vuorenmaa (2023-2025) and Tomas Häyry (2023-2025); and the deputy members are Vanessa Butani (2023-2024), Åsa Jackson (2023-2024), Riikka Joukio (2023-2024) and Seppo Parvi (2023-2024).

CLC relocated to new offices at Hämeentie 31 in Helsinki in 2023. CLC used the Microsoft Sharepoint platform to enable secure document sharing and digital working and deployed the WebCRM system.

CLC’s operations were mostly financed through membership fees. Income from membership fees amounted to EUR 911,909 in 2023.

FLAGSHIPS

CLC had three flagships in 2023: (1) effective carbon pricing, (2) carbon handprint and (3) carbon cycle 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 Emission Trading System. Our target has been to strengthen the wider deployment and predictability of the EU ETS to support and incentivize large-scale low-carbon investments.

The Call on Carbon campaign, led by CLC, is supported by leaders of more than 150 businesses, cities, universities and organizations. 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 capitalization of more than USD 25 trillion, and investment assets managed by representatives of the financial sector exceed USD 120 trillion. The campaign is led by CLC together with its Nordic partners, Haga Initiative and Skift Business Climate Leaders. Another 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, in particular in conjunction with the UN Climate Change Conferences COP26, COP27 and COP28.

At the event at COP28 in Dubai, the panelists were Dr Ngozi Okonjo-Iweala (Director General, WTO), Ruud de Mooij (Deputy Director of the Fiscal Affairs Department, IMF), Axel van Trotsenburg (Senior Managing Director, World Bank Group), Jo Tyndall (Director of the Environment Directorate, OECD) and John W.H. Denton AO (Secretary General, ICC). Finland was represented by Anders Adlercreutz, Finnish Minister for European Affairs and Ownership Steering. The event was moderated by Tuuli Kaskinen, CEO of CLC. The aim of the event was to discuss the role of intergovernmental organisations and possibilities for future collaboration in combining and increasing the use of carbon pricing mechanisms globally. The speakers emphasized that ambition, action and alignment of different approaches are needed in terms of carbon pricing. It is clear that the signatories to the Call on Carbon initiative represent increasing pressure to find ways to do more to mitigate climate change, and it does not seem likely that net zero targets can be reached without market instruments. The possibility of creating common ground rules for carbon pricing mechanisms were also discussed. A recording of the event can be found on the Business Finland website.

Dialogue on carbon pricing mechanisms with the aforementioned organisations is set to continue in 2024.

CARBON HANDPRINT

CLC members believe that it is important to develop methods to demonstrate the positive climate impacts of products.

From the perspective of determining carbon handprint, 2023 was a significant year. The Finnish Government Programme stated the aim of setting targets to increase the positive climate handprint of Finnish exports. The achievement of these targets will be monitored alongside carbon footprint. Efforts will be made to incorporate the handprint model into EU legislation alongside the footprint method.

Another important topic was the publication of Guidance on Avoided Emissions by the World Business Council for Sustainable Development, which aims to bring ideas conceived in Finland to the mainstream.

CLC was involved in both of these processes. To pave the way for the global deployment of the concept of carbon handprint, we initiated discussions with several international bodies on the standardization of the handprint method, as well as the harmonization of this method with the avoided emissions method. Negotiations on the next steps of cooperation were held at COP28 with the World Business Council for Sustainable Development.

In previous projects involving the handprint, companies have highlighted the challenges related to the calculation and use of the handprint, especially in terms of communications and determining the baseline against which a product’s carbon handprint should be assessed. To tackle this issue, we launched a project in 2023 to clarify the guidelines for communication. The project involved discussions with companies in Nordic countries that have used the handprint method and published the handprints of their products and services.

The project activities carried out in 2023 were funded by Teollisuuden ja Työnantajain Keskusliiton (TT) Säätiö (The Foundation of the Confederation of Finnish Industry and Employers).

The report on the international potential of the carbon handprint published in 2023 can be found on the CLC website. Communication guidelines and examples of how companies have communicated carbon handprints, published in the beginning of 2024, can be found on the same site.

CLIMATE EFFECTS OF LAND USE

CLC published two EU policy proposals on the climate effects of land use for the EU in 2023. The first of these focused on the potential of increasing carbon sinks in the forestry sector, alongside associated changes in land use and thus, changes in the guidance for land use, as well as the positive climate effects of biomaterials and bioproducts. The other proposal focused on increasing carbon sinks and reducing emissions in the agricultural sector. The policy proposals are motivated by concerns over the substantial loss of carbon sinks in Europe over the past ten years and awareness of the long time frames required to rehabilitate forest-based carbon sinks.

The proposals highlight the need for a holistic EU-wide long-term land use strategy to strengthen carbon sinks and reduce emissions from land use. The position papers were published on our website in June 2023. The position paper on long-term land use strategy and increasing carbon sinks was also published at a separate event in Brussels in early September.

CLC also published a policy proposal on the possibilities of using green ammonia for fertilizer and marine fuels, as well as in energy storage. Green ammonia is not only a low-carbon solution, but it also has significant potential with regard to ensuring self-sufficiency in the aforementioned areas.

Zero Emissions Day

In 2023, CLC was involved in planning upper secondary school students’ Zero Emissions Day challenge for companies and participated in the organization of two Zero Emissions Day events.

In the Zero Emissions Day challenge, a team of 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 2023. CLC encouraged its members to take part in the challenge; those that joined were Elo, Fiskars Group, Fortum, Helen, University of Helsinki’s Hyytiälä Forest Station, Neste, University of Oulu, S Group (HOK-Elanto and Pirkanmaa Cooperative), University of Tampere, University of Turku and Varma. The participating companies’ climate actions are described on the CLC website.

CLC also supported the organization of a networking event in the Ideapark shopping center in Lempäälä. At the event, several local organisations showcased their climate solutions, from individual measures to larger initiatives. The main objective of the event was to raise the awareness amongst citizens, decision-makers and parishioners about environmental issues and opportunities for emissions reductions, to disseminate information on the solutions being developed and to promote climate partnerships.

Otaniemi Upper Secondary School organized a traditional Zero Emissions Day event, which was streamed and made available to everyone through the Lukema network. CLC’s Senior Advisor Sari Siitonen gave a presentation on calculating businesses’ carbon footprints.

COP28

One of CLC’s goals is to promote stronger international climate policy commitments. Stricter environmental policies are not only key to mitigating environmental crises, they also enable solutions presented by Nordic environmental pioneers to succeed on the international market. For this reason, CLC takes an active role in promoting its members’ key agendas, such as carbon pricing, at the Climate Change Conference every year. It brings members to the Conference as part of the CLC delegation and communicates about the Conference with its members and the media in the Nordic countries.

CLC is one of the observer organisations in the UNFCCC. At the beginning of December 2023, the Conference of the Parties to the UNFCCC was organized in Dubai, United Arab Emirates. CLC sent its own delegation to the Conference and supported the participation of its members at the Conference. All CLC members were invited to join the Road to COP webinars. In addition, CLC members in Dubai met for dinner with Minister Anders Adlercreutz to discuss the promotion of Nordic green exports.

Supporting Finland’s first COP Pavilion was an important part of our work at the Dubai Climate Change Conference. The Pavilion was a project carried out together with the Confederation of Finnish Industries (EK), the Finland Chambers of Commerce and Business Finland, which was in charge of the execution of the project.

The majority of the Finnish Pavilion’s corporate partners were members of CLC. The total number of partners was 26. CLC played a key role in creating the Pavilion programme, communications and supporting its member companies in building their own events and networks. Moreover, CLC’s CEO Tuuli Kaskinen was the chair of the project steering group. The steering group consisted of representatives from the Ministry of the Environment, the Ministry of Economic Affairs and Employment, the Ministry for Foreign Affairs, the Confederation of Finnish Industries (EK), the Finland Central Chamber of Commerce, Business Finland, CLC, and, in the autumn, the Gold Partners Nokia and Outokumpu.

In addition to the Pavilion, CLC’s delegation included representatives from the University of Oulu, the University of Helsinki, LUT University and AFRY as observers. AFRY’s representative participated in the handprint project.

CLC’s priorities in discussions at COP28 included accelerating climate investment, promoting carbon pricing and showcasing the work done on the carbon handprint methodology. COP28 saw a number of high-level events organized by CLC. The first event was organized in cooperation with the Finnish Ministry of Finance, where Tuuli Kaskinen interviewed the Prime Minister of Finland, Petteri Orpo, and the economist Professor Sir Nicholas Stern.

We also organized an event together with international economic organisations concerning the carbon pricing campaign Call on Carbon. Participants included executives from the World Trade Organization, International Chamber of Commerce, International Monetary Fund, OECD and World Bank. Also in attendance was Minister Adlercreutz from Finland. The event was a great success and attracted a wide audience.

CLC also organized a networking event with funding from the Nordic Council of Ministers to boost cooperation between Nordic companies. The speakers at the event included CEOs and other executives from Finnish and Swedish companies.

In addition to CLC events, CEO Tuuli Kaskinen and Specialist Senni Raunio participated in a total of 11 panel discussions at the pavilions of various other countries during COP28. Tuuli Kaskinen was interviewed by Yle News as well as the Helsingin Sanomat and Huvudstadbladet newspapers. In addition to Senni Rauni and Tuuli Kaskinen, Junior Specialist Mira Pohjanrinne from the CLC team participated in the Dubai Conference.

Other events in 2023

Our year began with a high-level CLC Masterclass on the climate crisis on 1 February. The Masterclass was attended by the Finnish President Sauli Niinistö, then Prime Minister Sanna Marin, then future prime minister Petteri Orpo and representatives of all the parliamentary parties. Discussions were held with the executives of major Finnish companies and other organisations about possible solutions to climate challenges under the next Government programme. The event was opened by Director of the Potsdam Institute Johan Rockström, who also hosted a separate event for the representatives of CLC’s member organisations. Other speakers at the event included representatives of CLC member companies, and the audience was addressed remotely by the U.S. Special Presidential Envoy for Climate John Kerry.

Another event related to the upcoming elections and the new Government Programme was held on 27 February in Turku, where local companies and decision-makers met to discuss their expectations for the future Government’s climate programme.

The principals of the CLC member universities met in Helsinki to discuss the role of universities in CLC’s work on 9 February 2022. In the spring, CLC’s food industry members met for dinner at Munkkiniemi Manor. On 6 June, we organized a dinner in conjunction with our position paper on land use planning and carbon sinks. At the beginning of autumn, on 29 August, we put together a climate-themed theatre event for both members and stakeholders, held at Aalto University, that included a discussion on hydrogen.

We published our position paper, CLC position paper on land use and nature-based carbon removals: The EU needs a holistic land-use plan to enable enhanced carbon removals, in Hotel Sofitel in Brussels on 19 September 2023.

At the end of the year, on 30 October, we organized a Biodiversity Leadership Course for the management teams of CLC members. The speakers at this half-day course were Professor Anna-Liisa Laine from the University of Helsinki and Professor Tomas Roslin from the Swedish University of Agricultural Sciences. The course was extremely well received, and we have decided to organize repeat events for three future dates. This will give the management teams of CLC companies ample opportunities to take part in the course.

In 2023, CLC organized two webinar series. The first series discussed opportunities to influence the Government Programme in Finland. The webinars in this series took place on 10 January, 14 February and 27 March 2023. The other series prepared CLC members for COP28, and these webinars took place in November and December. Moreover, a webinar on the potential of green ammonia was hosted at an event on 31 March, during which the CLC position paper on the subject was published. A members-only webinar on the EU’s climate target for 2040 was organized on 24 May.

• Excellence in understanding climate change and its impact, risk anticipation and development of sustainable climate innovation, a joint statement with the Confederation of Finnish Industries (EK) and various universities and research institutes, 28 March 2022
• Seven questions and answers from CLC members to the next Finnish Government: The green transition is a major opportunity, 4 April 2023
• CLC’s message at the Clean Energy Finland reform discussion group during government negotiations, 10 May 2022
• Letter concerning the distribution obligation from CLC to the negotiators in the Finnish government formation talks, a joint letter by Gasum, Lassila & Tikanoja, Posti and Valio, 24 May 2022
• Letter from CLC and other European networks to the EU’s chief negotiators at COP28 supporting an agreement on phasing out of fossil fuels

Policy proposals to the European Commission

• CLC’s statement on the Green Deal Industrial Plan, 7 March 2023
• CLC Policy brief on green ammonia, 31 March 2023
• CLC Position paper on land use and nature-based carbon removals: The EU needs a holistic land-use plan to enable enhanced carbon removals, 19 June 2023
• CLC Response on EU’s intermediary climate target for 2040 consultation, 19 June 2023
• CLC Position paper: Agriculture and food production – in the beginning of the transformation, 6 September 2023
• CLC Position paper: Co-benefits of healthy food on public health and climate – drastic actions needed to promote sustainable dietary choices, 24 October 2023

Statements submitted to the Finnish Parliament and agencies

Statement on the draft Government proposal to amend Section 5 of the Act on promoting the use of biofuels for transport, 8 November 2023

Statement on the Finnish Government Annual Climate Report 2023, 22 November 2023

Statement to the Finnish Energy Authority on a draft validation decision concerning the regulatory methods for electricity and natural gas network operations during the monitoring periods 2024-2027 and 2028-2031, 15 December 2023

These statements can be read on CLC’s website.

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 organized a total of 29 Theme Group meetings and 13 webinars in 2023. The majority of the events were conducted 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. CLC had a total of 12 Theme Groups in 2023, as well as a Strategy Leaders’ Group and a Climate Policy Group.

AGRICULTURE AND FOOD THEME GROUP

The objective of the Agriculture and Food Theme Group is to reduce emissions in the agricultural sector and from food production as well as increase carbon sinks in agriculture and promote new methods and technologies that have potential for low-carbon food production.

The group’s 2023 agenda covered challenges and actions related to emissions reductions in the sector, both in Finland and across the EU. Other topics of discussion included the transformation potential of the agricultural sector and the role of businesses in the green transition. The Theme Group also convened in response to the dramatic geopolitical developments of 2023 to discuss the impacts on Finland’s agricultural sector and self-sufficiency and the potential of green ammonia as a sustainable fertilizer and marine fuel. The Agriculture and Food Theme Group also reviewed CLC’s position papers to the European Commission concerning agricultural land use and green ammonia.

The Theme Group’s priorities for 2023 were:

• Reducing emissions from agriculture
• Increasing agricultural carbon sinks
• Promoting the production and use of green ammonia as an agricultural fertilizer

SUSTAINABLE DIETS THEME GROUP

The objective of the Sustainable Diets Theme Group is to explore healthy and environmentally friendly diets and their impact on emissions reductions. In addition to studying the impacts of diets, the Theme Group seeks to better understand food production technologies and techniques that can help to reduce emissions within the food sector.

The Theme Group’s focuses in 2023 were national and international initiatives and studies on consumption patterns and the promotion of healthy diets among consumers, as well as on the role and responsibility of marketing in promoting sustainable and climate-friendly food choices. The Theme Group also examined the development stages of the production process of cultured meat as well as its environmental effects and emissions-reduction potential.

The Theme Group’s priorities for 2023 were:

• Carbon accounting and reduction potential across the entire value chain as well as producer-specific climate actions in the food sector
• Sustainable food packaging materials as well as the new EU Single-Use Plastic Directive
• The impact and potential of the carbon handprint methodology in the food sector

CARBON FOOTPRINT AND HANDPRINT THEME GROUP

The objective of the Carbon Footprint and Handprint Theme Group was to follow the progress of national and international programs and initiatives aimed at reducing carbon emissions as well as to facilitate the dissemination of best practices in carbon footprint quantification, emission mitigation and communication.

The activities of the Theme Group were planned in late 2023 for the next 18 months. The Theme Group’s priorities for 2023 were:

• Promoting the use of the carbon footprint concept across the EU in accordance with CLC’s policy proposal
• Promoting the use of the carbon handprint concept worldwide

CONSTRUCTION THEME GROUP

The Construction Theme Group explores new solutions and assessment methods for low-carbon construction.

Over the past five years, the Theme Group’s priorities have been reviewing the carbon footprint assessment method for buildings, developed by the Finnish Ministry of the Environment, and sharing information within the Group. In 2023, the Group focused on construction laws and the carbon handprint, the EU and construction regulation, as well as CLC’s EU position paper. The Group met three times in 2023.

The Group’s operations ended at the end of 2023.

ENERGY 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 Professor Pami Aalto from Tampere University and facilitated by Juha Turkki. In its 2023 meetings, the Group assessed the reform of the European electricity market model and carbon capture solutions.

As of 2024, the Energy Theme Group and the P2X Group have been merged and are now known as the Zero-Carbon Energy Systems Group. The Theme Group’s priorities for 2024 are:

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

As of 2024, the Group is chaired by Antti Arasto from VTT and Erik Skogström from Sweco. The Group was merged with the P2X Group in early 2024 to form the Zero-Carbon Energy Systems Group.

P2X THEME GROUP

The P2X Theme Group has extensively promoted the deployment of hydrogen economy solutions. The Theme Group was chaired by Antti Arasto from VTT and facilitated by Juha Turkki. The Theme Group met three times in 2023 and its aim was to promote policies to stimulate demand for hydrogen and its derivatives, as well as the use of hydrogen in CCU and CCS solutions.

The Group was merged with the Energy Theme Group in early 2024 to form the Zero-Carbon Energy Systems Group.

FINANCE THEME GROUP

The Finance Theme Group’s objective is to facilitate carbon pricing and increase understanding about the economic risks and opportunities involved in climate change and evolving climate policy.

The Theme Group continued to promote TCFD recommendations in Finland and across the Nordic countries and collaborated with other bodies to organize a sustainability reporting competition for Finnish businesses. It also ran a number of events focused on financing the green transition, the European Central Bank’s new position on climate change, upcoming changes to the IFRS Accounting Taxonomy and the adoption of TCFD recommendations by Finnish businesses and financial institutions. The Theme Group convened four times in 2023.

The Theme Group’s priorities for 2023 were:

• Exploring initiatives promoting efficient carbon pricing
• Learning about challenges that businesses and financial institutions have faced in respect to the implementation of the EU Taxonomy and the European Commission’s reactions to critiques
• Promoting the use of TCFD recommendations in Finland and other Nordic countries as well as supporting the IFRS Climate Exposure Draft

FOREST THEME GROUP

The objective of the Forest Theme Group is to promote carbon sequestration through forests and forestry products as well as sustainable forest policy. The Theme Group convened four times in 2023, and its meetings focused on the prospects of the carbon market in the land use sector, the preparation of the greenhouse gas protocol from the perspective of the land use sector and the export potential of carbon storage products from the forest industry. The Forest Theme Group also discussed CLC’s position paper on land use to the European Commission.

The Theme Group’s priorities for the year 2024 are:

• 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

TRANSPORT THEME GROUP

The objective of the Transport Theme Group is to help CLC members jointly develop and offer solutions for reducing carbon emissions from transport and traffic. In 2023, the Theme Group’s focus was understanding the electrification potential of heavy goods vehicles as well as the effects of the global energy crisis and rising fuel prices on society, businesses and the future of electric cars. The Theme Group also explored emissions accounting and reporting, as well as emissions-reduction potential in the logistics sector.

The Theme Group’s priorities for 2023 were:

• Prerequisites for the electrification of vehicle technology and low-carbon road transport
• Promoting hydrogen and other alternative fuels
• Lobbying for low-carbon road infrastructure

HEALTH THEME GROUP

The Health Theme Group seeks to understand the physiological and psychological effects of climate change on human health, find ways to prevent these negative effects and promote strategies to reduce emissions in the health sector. In 2023, the Theme Group examined both private-sector and public-sector climate actions and their impacts in Finland and studied the positive effects of climate-friendly diets on public health as well as the effects of climate change on physical and mental health.

The Theme Group’s priorities for 2023 were:

• Increasing understanding of the direct and indirect health-related societal and economic impacts of climate change
• Looking at the effects of climate change on infections, zoonotic diseases and epidemics

CITIES FOR GREEN GROWTH THEME GROUP

The Theme Group convened four times in 2023. The topics discussed included lobbying in the EU, attracting green investment and growth in cities. The Theme Group organized an event attended by directors of economic development of its member cities to discuss the role of businesses and the drivers of green growth.

The Theme Group will continue to work on themes related to green growth in 2024 and will also monitor the upcoming Pilot Cities programme, which CLC is working on in cooperation with the City of Espoo.

STRATEGY LEADERS’ GROUP

The work of the Strategy Leaders’ Theme Group was conducted in cooperation with Combient Pure. The Group met twice in 2023 and focused on the mutual exchange of expertise and information between strategy leaders.

The Theme Group’s priorities for 2023 were:

• Climate strategy management systems
• Evaluation of climate investments

CLIMATE POLICY GROUP

The primary role 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. In 2023, the Group was chaired by CLC’s Juha Turkki.

CLC delivered key communications throughout 2023 and its expertise was well received.

The greatest jackpot of all time

In early 2023, CLC’s communications focused on the Kaikkien aikojen jättipotti (The Greatest Jackpot of all Time) campaign, centered around the report Finland’s Moonshots for Green Growth, and later in the year on the goals of the UN Climate Change Conference in Dubai, the activities of the Nordic businesses in attendance and the results of the conference.

The Greatest Jackpot of all Time campaign disseminated information about green investments and the growth potential of green exports for Finnish companies. The campaign received considerable media coverage, such as in Helsingin Sanomat, and was the subject of opinion pieces in six regional newspapers and an extensive advertising campaign promoted in regional newspapers and digital and social media. The campaign was featured in 32 regional newspapers and drew 2.5 million reactions and 10,500 clicks on social media. The campaign was visible in the streets in 16 cities and reached 2.7 million people. Through the campaign, 90 organisations showed their support for the carbon neutrality goal, and 22 CLC members shared the campaign messages.

The campaign partners were Finnish Energy, Fiskars Group, Fortum (Fortum Oyj Corporate Affairs and Fortum Power and Heat Oy), Gasgrid, LähiTapiola Palvelut Oy, Neste Oyj, Sanoma, St1, Security Trading, Technology Industries in Finland, Vaisala Oyj and Ålandsbanken.

The campaign was co-funded by CLC and its members.

Dubai Climate Change Conference COP28

CLC was active in its communications to members and the media concerning the Climate Change Conference held in Dubai in the autumn. The CLC commented on the conference events in the media, including in Helsingin Sanomat, Yle’s news and Huvudstadsbladet, and Finland’s COP Pavilion was featured in The New Yorker.

CLC sent its members 38 electronic newsletters in 2023. All news about membership and upcoming events is published on CLC’s website in Finnish and English. News is also shared on CLC’s social media channels.

The composition of CLC’s Board was as follows at the end of 2023:

Karl-Henrik Sundström (Chair)

Jyrki Katainen (Vice-Chair)

Nathalie Ahlström

Tiina Alahuhta-Kasko

Pekka Ala-Pietilä

Jonas Gustavsson

Merja Kivelä

Pekka Timonen (Member of the Board until 1 September 2023)

Deputy members:

Minna Aila

Liina Aulin (Deputy Member of the Board until 30 March 2023)

Jaakko Hirvola

Annette Stube

Riikka Joukio

Secretary (non-board member):

Lena Höglund

CLC staff:

Tuuli Kaskinen, Chief Executive Officer

Kari Mokko, Development Director, Networks and Communications until 28 February 2023

Juha Turkki, Development Director, Systemic Climate Solutions

Minttu Liuhto, Specialist, Agriculture and Food

Senni Raunio, Specialist, Member Relations and Project Development

Lena Höglund, Office Coordinator

Minna Vertainen, Campaign Coordinator, 30/1-31/3/2023

Matvei Telov, summer intern, 12/6-28/8/2023

Mira Pohjanrinne, COP28 project intern, 28/8/2023-27/1/2024

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

External advisors:

Sari Siitonen, Senior Advisor, Carbon Footprint and Handprint

Timo Tyrväinen, Chief Economist

The autumn meeting involved confirming the action plan, estimates of income and expenses and the amounts of joining and membership fees for the following calendar year. CLC charges no joining fees from new members. Membership fees are payable as of the beginning of 2023. The only change relates to the fee payable by personal members, which has been raised from EUR 11 in 2022 to EUR 20 in 2023.

• EUR 11,000.00 for large organizations (net sales of EUR 50 million or more)
• EUR 5,500.00 for small organizations (net sales of less than EUR 50 million)
• EUR 5,500.00 for small associations (less than 20 persons)
• EUR 2,500.00 for foundations and startups
• EUR 20.00 for personal members

CLC’s operations were primarily financed through membership fees. In 2023, income from membership fees amounted to EUR 911,909.00 (2022: EUR 903,790.00), income from grants to EUR 74,644.95 (242,841.99) and income from other sources to EUR 100,000. CLC’s expenses totaled EUR 1,096,722.74 (1,074,987.52). The financial result for 2023 was EUR -10,168.79 (74,644.47). CLC’s equity when books were closed stood at EUR 274,967.67 (285,136.46).

CLC’s income and expenses for 2023 were estimated to be EUR 1,051,440.00 as per the autumn meeting of 2022.

The Board convened four times in 2023. In addition, four meetings were held per capsulam. CLC’s auditors are PricewaterhouseCoopers Oy. The auditor-in-charge is Jukka Paunonen, Authorised Public Accountant, and the deputy auditor is Heini Hänninen, Authorised Public Accountant.

CLC’s key actions to minimize the organization’s carbon footprint relate to reducing travel by air and ship and offsetting carbon emissions caused by journeys taken.

CLC’s staff flew a total of 59,250 kilometers in 2023. The destinations were Stockholm, Sweden; Tallinn, Estonia (by ferry); Brussels, Belgium and Dubai, United Arab Emirates. The resulting emissions (approximately 7,895 kg/CO2) were offset four times over through the UN Climate Neutral Now service project nr 7461, which promotes solar power generation at Jaisalmer, Rajasthan, India.

The Board’s assessment of 2023 is that CLC not only met but exceeded its targets. Its election-related advocacy efforts in Finland and work related to COP28 were especially successful.

APPENDIX 1: BY-LAWS