Finnish finance heavyweights question government climate fund plan

The Finnish government has proposed creating a state-owned climate fund, but finance industry heavyweights point out that investment tools to combat climate change already exist in the private market.

Mika Leskinen, CIO of FIM Asset Management | Photo: PR / FIM

In January, the Finnish government proposed creating a state-owned climate fund, which would support new climate-friendly technologies, reduced emissions, and eco-friendly development of Finnish industries. The fund would be based on and use the investment returns of the Finnish State Development Company (Vake).  

Several leading figures in the Finnish finance sector are, however, questioning the government’s plan to launch the climate fund. One of them is FIM Asset Management CIO, Mika Leskinen.

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