The race for green investments is heating up among large countries, with significant support money being provided. However, Finland’s position in the competition is not looking promising at the moment. Despite this, there is hope that the green transition will bring many investments and economic benefits to Finland in the future.
According to a report by the Confederation of Finnish Business (EK), investment intentions for Finland’s green transition are on the rise. There are over 500 projects in the pipeline, totaling 260 billion euros. These projects could create 20,000 new jobs if implemented. While many of the projects are still in the planning phase, some have already started or have investment decisions made about them.
However, delays and interruptions have occurred in some projects, particularly in areas such as hydrogen production, battery industry, and emission-free steel. To attract these investments to its own country, Finland must compete against other countries offering subsidies and support.
One solution that has been proposed is an EU-level financial instrument that could distribute money to the best projects rather than allowing large countries to monopolize projects with their own subsidies. This would give Finland a better chance at attracting investments to its own country and compete for green investments and economic benefits.
Despite facing competition from other countries offering subsidies and support, there are still opportunities for Finland to make progress in its transition towards a greener economy. With continued efforts from both public and private sector stakeholders, it may be possible for Finland to overcome its current position in the race for green investments and reap the benefits of this important transition for years to come.
