Climate action by companies gaining ground in development cooperation
Solutions developed by Finnish companies are used to mitigate climate change around the world and to help locals adapt to its effects. Companies’ contribution to achieving the Sustainable Development Goals is becoming a stronger element of Finland’s development cooperation. However, local development needs are still the starting point for all work.
The Finnish Ministry for Foreign Affairs finances and supports companies that promote Sustainable Development Goals (SDGs) in developing country markets. Many Finnish companies are contributing to reducing emissions in different countries and sectors and to helping locals adapt to the changing climate.
Vaisala’s devices are saving lives by forecasting extreme weather events
The Finnish company Vaisala made one of the largest deals of its history with Vietnam in 2017–2020. It weather radars, lightning detection sensors and weather forecaster systems make it easier to anticipate extreme weather events in a country among the worst affected by climate change. This EUR 20 million deal is a direct outcome of development cooperation between Finland and Vietnam. It has been partly financed by the Ministry for Foreign Affairs' concessional credits, which are the predecessor of the PIF investment support.
Betolar is revolutionising concrete production by using by-products and AI
The cement in concrete is one of the greatest sources of carbon dioxide emissions in the world. The Finnish company Betolar has coined itself as ‘Google of materials technology’. It is replacing cement in concrete production by using binders created from by-products of the steel, mining, forest and energy industries. In this way, it is possible to reduce the carbon footprint of concrete by as much as 80 per cent. Since 2020, Betolar has been forming partnerships in Southeast Asia through the Developing Markets Platform(Link to another website.) programme, which is financed by Business Finland and the Foreign Ministry.
Salo Solar is exporting solar energy expertise and clean energy to Thailand
Solar Finland is a Finnish solar technology group that made a significant investment deal with Thailand in 2022 to reduce the country’s dependence on fossil energy sources. It has agreed to establish a solar panel production plant in Thailand. Salo Tech Thailand Ltd from Finland will be responsible for the plant’s construction and maintenance. The plant’s owners include the Finnish development financier and impact investor Finnfund(Link to another website.) and PEA Encom International, which is an energy company owned by the state of Thailand.
The Foreign Ministry’s campaign on making life better near and far shows how development cooperation and companies’ climate action can reduce the effects of climate change on people’s lives in developing countries and in Finland.
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