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Home › Banks ›
Bank
OP Financial GroupFinland

Active

This profile is actively maintained
Last update: 2022-10-04 16:33:11
OP Financial Group head office at Vallila, Helsinki. Photo: Arto Alanenpää via Wikimedia Commons (CC BY-SA 4.0)

Active

This profile is actively maintained
Last update: 2022-10-04 16:33:11
About
Website https://www.op.fi/op-financial-group
Headquarters
Teollisuuskatu 1b 00510
00510 Helsinki
Finland
CEO/chair Timo Ritakallio
President and Group CEO
Supervisor
Finnish Financial Supervisory Authority
Ownership

The Group consists of independent member cooperative banks which are owned by their customers.

OP Financial Group, founded in 1891, is one of the largest financial institutions in Finland. It consists of 180 cooperative banks and their central organisation. It has over 1.4 million customer-owners. The group offers retail and commercial banking services as well as insurance services. In 2014 the group acquired the remainder of the shares of Pohjola Bank, which it consolidated under the OP brand. OP’s headquarters are located in Vallila, Helsinki. OP Financial Group became an Equator Principles signatory in December 2016.

Sustainability
Policies
Voluntary standards

OP Financial Group's webpage on corporate social responsibility can be accessed here.

2022-07-04 00:00:00

Exclusion list as of July 4 2022

Bank policy
2022-07-04 00:00:00 | OP Asset Management
2021-03-10 00:00:00

Considerations of sustainability risks in employee remuneration

Bank policy
2021-03-10 00:00:00 | OP Financial Group
2021-03-09 00:00:00

Principles related to sustainability risks

Bank policy
2021-03-09 00:00:00 | OP Financial Group
2020-05-31 00:00:00

Principles for responsible investing

Bank policy
2020-05-31 00:00:00 | OP Asset Management
2018-11-01 00:00:00

Code of business ethics

Bank policy
2018-11-01 00:00:00 | OP Financial Group
OP Financial Group has committed itself to the following voluntary standards:
Collective Commitment to Climate Action (CCCA)Tags: climate change | corporate social responsibility | United Nations
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
OECD Guidelines for Multinational EnterprisesTags: human rights | corporate social responsibility | dams | OECD | consumer safety | corruption | cultural preservation | worker rights | supply chain | taxation | mining and processing
Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

OP Financial Group 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 OP Financial Group's link to these deals.

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

What the war in Ukraine teaches us

Lessons for European governments, companies and financiers - a Profundo Expert View
2022-03-04 | Jan Willem van Gelder - Profundo
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100
2019-02-27 | IEEFA
Resources
Documents
2022-10-04 00:00:00

Annual report 2021

Annual report
2022-10-04 00:00:00 | OP Financial Group
2022-07-04 00:00:00

Exclusion list as of July 4 2022

Bank policy
2022-07-04 00:00:00 | OP Asset Management
2021-06-01 00:00:00

Annual report 2020

Annual report
2021-06-01 00:00:00 | OP Financial Group
2021-03-10 00:00:00

Considerations of sustainability risks in employee remuneration

Bank policy
2021-03-10 00:00:00 | OP Financial Group
2021-03-09 00:00:00

Principles related to sustainability risks

Bank policy
2021-03-09 00:00:00 | OP Financial Group
2020-12-08 00:00:00

Collective Commitment to Climate Action - Year One in Review

Other document
2020-12-08 00:00:00 | UNEP FI Principles for Responsible Banking
2020-10-20 00:00:00

Annual report 2019

Annual report
2020-10-20 00:00:00 | OP Financial Group
2020-10-20 00:00:00

CSR report 2019

Annual report
2020-10-20 00:00:00 | OP Financial Group
2020-05-31 00:00:00

Principles for responsible investing

Bank policy
2020-05-31 00:00:00 | OP Asset Management
2019-09-19 00:00:00

Collective Commitment to Climate Action

Other document
2019-09-19 00:00:00 | UNEP FI Principles for Responsible Banking
2019-07-31 00:00:00

Annual integrated report 2018

Annual report
2019-07-31 00:00:00 | OP Financial Group
2018-11-01 00:00:00

Code of business ethics

Bank policy
2018-11-01 00:00:00 | OP Financial Group
2018-08-01 00:00:00

Excluded companies list

Bank document
2018-08-01 00:00:00 | OP Financial Group
2018-03-31 00:00:00

Annual integrated report 2017

Annual report
2018-03-31 00:00:00 | OP Financial Group
2017-03-31 00:00:00

Annual integrated report 2016

Annual report
2017-03-31 00:00:00 | OP Financial Group
2016-03-31 00:00:00

Annual report 2015

Annual report
2016-03-31 00:00:00 | OP Financial Group
2016-03-31 00:00:00

CSR Report 2015

Annual report
2016-03-31 00:00:00 | OP Financial Group
Accountability
Grievances

OP Financial Group does not operate a compaints or grievances channel for individuals or communities that might have been affected by the bank's finance.

This page evaluates OP Financial Group'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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