Finland Leads Carbon Transition Targets

Finland is leading developments in solutions to help companies optimize their emissions and reach carbon transition targets. The decarbonization of heavy industry is a global problem that requires urgent attention and is a major concern for humanity. Achieving carbon targets requires significant reductions in emissions across every industrial sector. Companies in Europe are actively seeking ways to reduce CO2 emissions, and Finland already possesses the expertise and pioneering solutions necessary for industries to decarbonize and create more sustainable value chains. For the past three years, Europe has focused on coping first with the pandemic, then the energy crisis and inflation caused by Russia's invasion of Ukraine. As sectors struggle with daily realities such as disrupted supply chains, economic uncertainty, complex regulatory changes and rising energy costs, emission targets can easily remain in the background. However, the volume of emissions in the industrial sector remains very high and the issue must be addressed now, not later. The 2021 IPCC report warns that without significant reductions in carbon dioxide (CO2), global warming of 1.5°C and then 2°C will be exceeded in the 21st century, and other greenhouse gas emissions will emerge in the coming years. At the same time, people around the world care about climate and nature more than ever. According to the Ernst & Young Future Consumer Index 2021, 49% of consumers prioritize the environment and consider climate change in their lifestyles and the products they purchase.

Marika Ollaranta, Chair of the Industrial Decarbonization Programme at Business Finland, Finland's trade, investment and travel promotion and innovation financing organization:

"Companies are struggling to perform without compromising on ESG values and regulatory expectations during global economic uncertainty. Brand reputation is at risk. Achieving climate targets will require all industrial sectors to make a fundamental transition from CO2-intensive processes to more sustainable value chains. Finland already has commercially viable solutions and innovations. If companies in Europe make the right decisions now, we can navigate through these turbulent times," she stated.

Pelin Gökçek Adıyaman, Senior Consultant responsible for energy, clean technologies and manufacturing sectors at Business Finland's Turkey office:

"The Carbon Border Adjustment Mechanism, which will be implemented under the European Green Deal, will affect Turkey, the EU's 6th largest trading partner, and in particular its manufacturing industries. The cement, iron and steel, aluminium and fertilizer industries are expected to be affected in the first phase, followed by other energy-intensive sectors such as chemicals, textiles and paper. For this reason, Turkey's manufacturing industries need a rapid green transition. The solutions that Finland already has in these areas will contribute to the development of cooperation between the two countries," she stated. Finnish companies have long been pioneers in providing proven decarbonization solutions across various industries. Leading Finnish specialist companies, including AFRY, Gasmet Technologies and Valmet, offer methods currently being implemented globally. AFRY is a Sweden-Finland-based provider of engineering, design and consulting services with global reach. Working to increase energy efficiency, AFRY supports the process industry sector with advanced process technology expertise alongside its local operations. Source