According to Prime Minister Petteri Orpo’s government program, the state’s capital investment activity will be enhanced by centralising it under Tesi (Finnish Industry Investment Ltd). As a part of the preparations, the Ministry of Economic Affairs and Employment has decided to terminate the Finnish Climate Fund’s operations immediately in its entirety.
With the decision of the Minister of Economic Affairs, Wille Rydman, and the support of the Ministerial Committee on Economic Policy, the Finnish Climate Fund’s operations will be immediately wound down and the company will not make new investment decisions.
The entire staff of the Climate Fund has been or will be dismissed. With the layoffs, the Climate Fund’s team’s exceptional expertise in impact investing and especially impact assessment will also become available on the labour market.
As a part of the preparation and implementation of the arrangements, the state as the sole shareholder of the Climate Fund has appointed a new Board for the company: Petri Peltonen has been appointed as Chairman and Kai Heinonen, Miki Lehtomäki and Henri Grundsten as Members.
The Climate Fund’s assets and existing obligations will be transferred to the new Tesi Group at the time of implementation of the corporate restructuring, approximately on January 31st 2025.
Read more: news from the Ministry of Economic Affairs and Employment on 21st May 2024