Finnish companies manage ESG risks well
In the end of last year we met and conducted analysis of the largest Finnish companies. The analysis showed that an overwhelming majority of the large Finnish companies manage their ESG risks reasonably well. Many companies have worked with environmental issues for decades and, while most efforts are in compliance with law, the top-tier companies are showing signs of integrating sustainable-development-related issues in their strategies and with this, are capturing market segments that have grown from sustainable-development-related trends.
However, Finnish companies tend to lack international peers where social issues are concerned. Relationships with labour unions tend to escalate into strikes too frequently, the health & safety performance leaves considerable room for improvement, and only recently the companies have been able to work together with government and local communities to prevent the adverse impact of unnecessary corporate restructuring and related lay-offs.