{"id":63452,"date":"2024-12-20T11:58:11","date_gmt":"2024-12-20T09:58:11","guid":{"rendered":"https:\/\/www.sweco.fi\/?post_type=showroom_cpt&p=63452"},"modified":"2025-04-26T10:09:31","modified_gmt":"2025-04-26T07:09:31","slug":"investments-in-the-green-transition-will-have-a-major-impact-on-the-finnish-economy","status":"publish","type":"showroom_cpt","link":"https:\/\/www.sweco.fi\/en\/projects\/investments-in-the-green-transition-will-have-a-major-impact-on-the-finnish-economy\/","title":{"rendered":"Investments in the green transition will have a major impact on the Finnish economy"},"content":{"rendered":"
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Investments in the green transition will have a major impact on the Finnish economy<\/h1>\n

The Confederation of Finnish Industries commissioned Sweco to model regional economies on the national economy of green investments. The study showed that many green transition value chains depend on the implementation of key projects. The annual impact on GDP and tax revenues amounts to billions.<\/p>\n

What is the value of green investments for Finnish business?<\/h2>\n

The Confederation of Finnish Industries<\/a> (EK) acts as an umbrella organisation for 19 member unions and approximately 15,000 member companies. EK and its partners commissioned a study from Sweco that assessed the impacts of all ongoing green transition projects on GDP, employment and tax revenue. The total value of the planned projects is close to EUR 270 billion.<\/p>\n

“The investment amounts are huge, so we wanted to understand the big picture better and find out what kind of economic impacts the realisation of the investments would have on the different value chains of the green transition,” says Janne Peljo<\/strong>, Chief Specialist at the Confederation of Finnish Industries.<\/p>\n

The initial data for the study were obtained from the Confederation of Finnish Industries’ data window, i.e. a database containing all of Finland’s green transition projects. According to Peljo, the map-based data window is a key source of information for companies, researchers, media representatives and decision-makers alike.<\/p>\n

“It is important to make visible that the green transition is an economic phenomenon that is currently taking place. It is important for Finland to be an attractive investment environment for the implementation of green projects.”<\/p>\n

Regional economic modelling provides information on the life cycle costs of projects<\/h2>\n

EK hoped that Sweco would provide expertise especially in regional economic modelling<\/a> and external expert validation on how to calculate default values. The overall economic impacts of green investments have not been modelled before.<\/p>\n

“The regional economic modelling tool we have developed is used to estimate the life cycle costs of projects during the project development, construction and maintenance phases,” says Leo Bergman, Leading Specialist in Sweco’s sustainability consulting. When cost data is combined with verified industry-specific data, the economic impact of projects can be identified.<\/p>\n

Peljo admits that Sweco’s assignment was not easy. There were many demands and wishes, because in addition to the Confederation of Finnish Industries, there was a large group of industry associations ranging from the battery industry to bioenergy. “However, Sweco’s expert team was able to quickly grasp the task and prioritise work.”<\/p>\n

Sweco’s sustainability consulting<\/a> experts took into account the different perspectives of the extensive customer consortium and coordinated them. “The team was very motivated and the cooperation was therefore nice. Everyone saw great value in the survey,” Bergman says with satisfaction.<\/p>\n

Green investments depend on key projects<\/h2>\n

The study not only assessed the economic impact of individual projects, but also carried out an overall analysis of the interrelationships and links between green investments. According to Bergman, the formation of green transition value chains depends on key projects.<\/p>\n

“For example, increasing wind power production requires a large user of renewable energy, such as a hydrogen electrolysis plant. In turn, it depends on the user of hydrogen, such as a steel plant.”<\/p>\n

If one fifth of the planned green transition projects were realised, Finland’s GDP would increase by EUR 3 billion annually, employment would increase by 12,000 people and tax revenues cumulatively by more than EUR 16 billion over the next 30 years.<\/p>\n

“Based on reliable and credible data-based modelling, we now have an estimate of what kind of regional economic impacts the investments could have on different sectors of the green transition as a whole and on Finnish business life more broadly,” Peljo says.<\/p>\n

The regional economic impacts would be greater the more emphasis is placed on domestic origin in technology and subcontractor choices. Read more about the results of the study!<\/p>\n

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