The green transition will require system-level change in all of society and a comprehensive reform of economic structures. Major investments will be needed from businesses, households and the public sector to mitigate climate change, halt biodiversity loss and transition to a circular economy. The changed geopolitical situation has increased the urgency of the green transition and breaking away from the fossil- fuel economy.

On 18 January 2022, Minister of Finance Annika Saarikko, Minister of the Environment and Climate Change Emma Kari and Minister of Economic Affairs Mika Lintilä appointed a working group to form a comprehensive view of the financing of the green transition. The purpose of the working group was to draw up proposals for financing measures to accelerate the transition in an economically, ecologically and socially sustainable manner.

This final report presents the key objectives defined by the working group to develop green transition investments and financing. In addition, the report describes solutions for key sectors to implement the green transition and the scale of the related investment needs. The report also discusses the role of various parties in financing the green transition and recent developments in how sustainability is taken into account in the financial markets.

The report closes with recommendations for responding to identified development needs and achieving key objectives.