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FinnfundFinland

On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2016-11-07 00:00:00

On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2016-11-07 00:00:00
About
Website http://www.finnfund.fi/
Headquarters
Uudenmaankatu 16B
FI-00121 Helsinki
Finland
CEO/chair Jaakko Kangasniemi
CEO
Supervisor
Ownership

Finnfund is owned by the State of Finland (93.4%), Finnvera (6.5%) and Confederation of Finnish Industries EK (0.1%). 

Finnfund (Finnish Fund for Industrial Cooperation Ltd.) is a Finnish development finance company. It provides long-term risk capital for private projects in developing countries to promote economic and social devleopment. Funding can be in the form of equity capital, mezzanine financing or long-term investment loans: always with a minority stake. Most of its finances are in manufacturing, but it also in sectors such as agribusiness, power generation, services and telecommunications. 

Sustainability
Policies
Voluntary standards
2016-03-10 00:00:00

Human Rights in Finnfund operations

Bank policy
2016-03-10 00:00:00
2016-03-10 00:00:00

Exclusion list

Bank policy
2016-03-10 00:00:00
2014-01-01 00:00:00

Environmental and social policy

Bank policy
2014-01-01 00:00:00
Finnfund has committed itself to the following voluntary standards:
Dodgy Deals

Finnfund is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Finnfund's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Berta Cáceres: new rules for banks could help stop defender killings

2023-01-23 | Global Witness
BankTrack news BankTrack blog Partner news Partner blog

Hydroelectric Project Opposed by Berta Caceres Suspended

2017-07-10 | Tegucigalpa | Prensa Latina
Blog
BankTrack news BankTrack blog Partner news Partner blog

Controversial hydropower project that led to murder of land defender Berta Cáceres halted as funders forced to pull out

2017-07-07 | Global Witness
BankTrack news BankTrack blog Partner news Partner blog

COPINH communicates that FMO and Finn Fund have confirmed their official exit from the murderous Agua Zarca Project

2017-07-06 | Honduras | COPINH
BankTrack news BankTrack blog Partner news Partner blog

Backers of Honduran dam opposed by murdered activist withdraw funding

International investors withdraw completely from Agua Zarca project
2017-06-04 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Civil society response on announcement European financiers to ‘seek to exit’ Agua Zarca project

2016-05-11 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

FMO and Finnfund suspend support for Agua Zarca Dam

Civil society groups demand permanent withdrawal from project
2016-03-16 | San Fransisco, the Hague | International Rivers
Blog
BankTrack news BankTrack blog Partner news Partner blog

FMO and Finnfund seek to exit Agua Zarca

2016 | BankTrack
Resources
Documents
2018-11-15 00:00:00

Letter from Meri Mononen-Matias and the Indigenous People and the Earth, Finland to Finnfund on Draft Human Rights Statement

Correspondence
2018-11-15 00:00:00 | Meri Mononen-Matias and the Indigenous People and the Earth, Finland
2017-01-31 00:00:00

Honduras: The deadliest place to defend the planet

NGO document
2017-01-31 00:00:00 | Global Witness
2016-03-10 00:00:00

Human Rights in Finnfund operations

Bank policy
2016-03-10 00:00:00
2016-03-10 00:00:00

Exclusion list

Bank policy
2016-03-10 00:00:00
2015-05-05 00:00:00

Annual Report 2014

Annual report
2015-05-05 00:00:00
2015-04-28 00:00:00

Corporate Social Responsibility Report 2014

Annual report
2015-04-28 00:00:00
2014-01-01 00:00:00

Environmental and social policy

Bank policy
2014-01-01 00:00:00
Accountability

This page evaluates Finnfund's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Good Moves

Good moves

Year:

2016

FMO and Finnfund seek to exit Agua Zarca

Dutch development bank FMO and Finnish finance company Finnfund announced on May 9th that they would "seek to exit" financing the Agua Zarca hydroelectric project in Honduras. They took the decision after a court in Honduras decided on May 8th to press charges against four individuals in connection…
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Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
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