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Sustainability in state-owned companies Sustainability is becoming more and more important for the competitiveness and shareholder value of companies. As an owner, the State expects companies to lead the way in sustainable business. The State’s ex...

19.5.2026 | Total emissions from state-owned companies continued to fall in 2025, but many companies still lack adequate measures for identifying risks and impacts related to human rights.

9.10.2025 | The rolling stock company Suomen Ostoliikennekalusto Oy will be transferred from VR Group to direct state ownership and ownership steering at the Prime Minister’s Office. The transfer of ownership is a significant step in preparing for the competitive tendering of rail transport services.

13.5.2025 | Ownership steering received a new portfolio-level overview of progress on the State’s sustainability targets in spring 2025, when companies submitted their first reports in line with the sustainability programme.  

23.5.2023 | This year, the Ownership Steering Department of the Prime Minister’s Office began collecting more extensive and comprehensive information on sustainability in state-owned companies. This includes monitoring sustainability objectives in the remuneration of management, the total emissions of the company portfolio and climate-related objectives, among others.

13.6.2022 | Of all state-owned companies, 90 per cent have sustainability objectives in their remuneration programmes. According to a survey conducted by the Ownership Steering Department at the Prime Minister’s Office, corporate sustainability incentives account for about one quarter of the total remuneration paid by companies. The most common sustainability incentives were related to emissions reductions and job satisfaction among the personnel.

7.6.2022 | The guidelines for tax reporting by state-owned companies have been updated with regard to country-by-country income tax reporting.

4.8.2026 | On 31 July 2026, the state-owned special assignment company Arctia, which operates under the ownership steering of the Ministry of Transport and Communications, signed a chartering agreement to operate a multi-purpose icebreaker in the Canadian Arctic in late 2026. 

21.10.2021 | A state-owned special assignment company named Työkanava Ltd will be established in Finland. Its task is to promote the employment of people with partial work ability who are in the most difficult labour market position. The company would support their skills so that the people could find employment in the open labour market after working at Työkanava.

Frequently asked questions about state ownership steering and ownership policy Why does the State own listed companies? The listed companies in which the State has large shareholdings – Finnair (55.9 per cent), Fortum (51.26 per cent), Neste (44.2...

State ownership steering and ownership policy State ownership policy is active, open and pragmatic. The State develops its shareholdings using the tools of a responsible owner and aims for a long-term increase in ownership value. The premises for ...

Breakdown of state ownership State shareholdings are divided according to the basis for ownership into three different categories: finance interest, strategic interest and special assignment. Finance interest means that the State has exclusively, ...

Services to the Government The Prime Minister’s Office monitors the implementation of the Government Programme and plans and anticipates public policy over the long term. It is also responsible for Finland’s EU policy, for the ownership steering o...

The Prime Minister's Office The Prime Minister’s Office is one of the Government’s twelve ministries. Its main task is to support the Prime Minister in the general management of the Government and in coordinating the work of the Government and Par...

Role of the Prime Minister The Prime Minister leads the Government's work and oversees the implementation of the Government Programme. If a matter is to be decided by the European Union and it falls within the Government's area of responsibility, ...

8.4.2026 | At the end of 2025, the value of the State’s corporate holdings rose to around EUR 38 billion, while revenue from corporate holdings grew to EUR 1.94 billion. The total return on holdings in state-owned listed companies rose to 47.9 per cent.

Management and organisation of the Prime Minister’s Office The Prime Minister is the head of the Prime Minister's Office. The Minister for European Affairs and Ownership Steering is responsible for certain EU-related matters and for state ownershi...

17.3.2026 | On Thursday 26 March, the Economic Council led by Prime Minister Petteri Orpo will hold a conference on economic growth in an age of disruption. French professor Philippe Aghion, who won the Nobel Prize in Economics in 2025, will deliver the keynote address.

4.5.2026 | Additional capital totalling EUR 200 million will enable the gradual ramp-up of the project. Keliber is the first lithium project in Europe with integrated production from mine to refinery.

22.6.2022 | A national hydrogen network will be established in Finland. On Wednesday 22 June, the Ministerial Committee on Economic Policy supported expanding the group-level mandate of the wholly state-owned Gasgrid Finland Oy to include hydrogen transmission infrastructure and the development of a related hydrogen market in Finland.

12.2.2026 | The Sokli deposit in Savukoski is one of Europe’s most significant sources of rare earth elements. Its phosphate reserves are estimated to cover up to one fifth of the European Union’s phosphate needs.

12.5.2026 | The Ministerial Committee on Economic Policy has decided that the review of government agency structures will continue with follow-up studies on potential longer-term changes. The follow-up studies will be completed before the end of this year.

22.6.2021 | To boost the employment of persons with partial work capacity, the Government decided in its mid-term policy review session to set up a state-owned company with a special assignment. The company is tasked with recruiting such persons for longer-term employment relationships and providing them with support in carrying out their duties. Another objective is to promote the opportunities for employees to advance in their careers and take up employment with new employers.

11.2.2026 | VR-Group Plc and Suomen Ostoliikennekalusto Oy announced today that they have signed an asset purchase agreement concerning the rolling stock used in passenger rail services funded by the government. The rolling stock will be transferred to Suomen Ostoliikennekalusto's ownership from the beginning of March.

24.3.2026 | Space offers almost limitless possibilities for business and innovation. The theme article of the latest issue of the Kauppapolitiikka trade magazine explains the diverse dimensions of the space economy and looks at its growing importance for Finnish businesses.

12.4.2021 | The Annual General Meeting of the Traffic Management Company Fintraffic Ltd elected a new Board of Directors for the company on 25 March 2021. Doctor of Engineering Tero Ojanperä, Professor of Practice at the Aalto University and board professional, was elected as the Chairman of the Board of Directors.

12.4.2021 | The Annual General Meeting of the Traffic Management Company Fintraffic Ltd elected a new Board of Directors for the company on 25 March 2021. Doctor of Engineering Tero Ojanperä, Professor of Practice at the Aalto University and board professional, was elected as the Chairman of the Board of Directors.

1.4.2026 | The For Forest Group+ of forested EU countries has again grown stronger as Germany joined the group at the meeting held in Sweden on 31 March–1 April. The topics discussed by the ministers included the EU Deforestation and LULUCF Regulations, the Birds Directive, and the development of criteria and indicators for sustainable forest management.

26.8.2025 | Minister for European Affairs and Ownership Steering Joakim Strand invited board members and managing directors of state-owned companies to a discussion on growth, development and innovation at Little Finlandia in Helsinki on Tuesday.”

10.4.2025 | The value of state holdings stood at around EUR 30 billion at the end of 2024. The State earned a total of EUR 1.45 billion in revenue from its corporate holdings. The goal is to use EUR three billion in state revenue from corporate holdings to finance the Government's investment programme over the current government term.

1.9.2025 | The State will become the majority shareholder of Finnish automotive contract manufacturer Valmet Automotive as part of a broader corporate restructuring and financing arrangement.

25.11.2025 | Three separate studies examine the development of nature value markets from the perspectives of sellers who generate nature values, buyers and intermediary organisations. According to the studies, nature value markets are an important means of increasing private funding for nature action, but their large-scale establishment requires clear rules and additional incentives.

9.10.2025 | Posti Group Corporation’s initial public offering and sale of shares generated strong demand.

5.6.2025 | On 5 June 2025, the Government submitted to Parliament a proposal for an act on specialised financing activities and their organisation. The act would provide Finnvera with better opportunities to operate effectively as a state-owned specialised financing company and to perform its economic and industrial policy tasks.

19.9.2025 | A thorough assessment by the Ownership Steering Department shows that listing Posti Group Corporation’s stock on the exchange could be a good way to support the company’s competitiveness and growth opportunities. With the planned listing, the State as the owner aims to stake out an evolutionary path for the company while also strengthening central government finances.

26.3.2025 | Minister for European Affairs and Ownership Steering Joakim Strand will visit Paris on Thursday 27 March. During the visit, Minister Strand will take part in the Global Anti-Corruption & Integrity Forum organised by the Organisation for Economic Co-operation and Development (OECD). He will also have a meeting with OECD Secretary-General Mathias Corman.

28.10.2024 | The Room for Growth project launched by Prime Minister Petteri Orpo has opened an online survey to gather proposals for boosting growth. The survey is open to the public and will be available from 28 October to 24 November. The proposals gathered in the survey will be submitted to the expert group leading the project.

28.5.2025 | On 28 May 2025, the Government made decisions to complete the enhancements to the state’s private equity investment activities, as agreed in the Government Programme. Consolidation of the state’s private equity investment activities under Finnish Industry Investment Ltd (Tesi) will be completed when the acts enter into force on 30 May 2025 and the corporate restructuring takes place on 31 May 2025.

26.8.2025 | The Finnish development financier Finnfund has set up a new investment fund to support the development of digital services and infrastructure in developing countries. The aim is to promote gender equality and financial inclusiveness in Africa, Asia and Latin America.

19.12.2025 | The Ministry of Social Affairs and Health is requesting comments on a draft government proposal that would extend the right of small alcohol producers to sell their products for takeaway. In future, a larger number of domestic alcohol producers could sell alcoholic beverages produced by them directly to consumers at production premises. Comments on the draft proposal can be submitted between 19 December 2025 and 13 February 2026.

16.10.2025 | The Ministry of Transport and Communications is preparing a long-term investment programme, based on the Government Programme, to renew Finland’s icebreaking fleet. In addition, Sanna Ruuskanen, Director of Unit at the Ministry of Transport and Communications, will be appointed as a new member of the Board of Directors of Arctia Ltd, Finland’s state-owned icebreaking company.

26.6.2024 | State-owner’s Sustainability programme Ownership Steering Department, Prime Minister’s Office June 2024 Objective of the sustainability programme • To integrate sustainability more closely into ownership steering, thereby supporting and preserving...

3.4.2025 | On 3 April 2025, the Government submitted to Parliament its proposal for an act amending the Act on the State’s Export Credit Guarantees to increase the maximum guarantee liability for special risk-taking from EUR 8 billion to EUR 12 billion.

27.2.2025 | The Finnish Government has injected EUR 30 million of capital into Finnish Minerals Group, which is a fully state-owned special assignment company. The capitalisation is intended to strengthen the financial position of Finnish Minerals Group’s subsidiary Terrafame Ltd.

9.10.2024 | On 9 October 2024, the Ministerial Committee on Economic Policy discussed and supported the new outlines for the ownership policy concerning Metsähallitus for 2024–2027. Besides the reconciliation of different needs, new objectives have also been included. Among the topics concerned are the economic benefit from the operations of Metsähallitus to the State and promotion of biodiversity and renewable energy.

3.4.2024 | In 2023, the State earned a total of EUR 1.6 billion in revenue from its corporate holdings. The accrued dividend was especially boosted by Neste’s dividend and by the dividends paid by Solidium. The value of state holdings stood at around EUR 37 billion at the end of the year.

23.5.2024 | On 23 May 2024, the Finnish Government issued a new resolution on ownership policy. It directs the State’s actions in its capacity as a shareholder and applies to all limited liability companies in which the State holds interests and to all ministries whose duties include ownership steering.

8.3.2024 | Minister for European Affairs and Ownership Steering Anders Adlercreutz will travel to Stockholm on Monday 11 March. During the visit, Minister Adlercreutz will meet with Swedish Minister for EU Affairs Jessika Roswall and take part in several other high-level meetings.

5.9.2024 | On 5 September 2024, the Government proposed to amend the Act on Finnish Industry Investment (Tesi) and to enact a new act on a wholly state-owned limited liability company known as Teollisuustuki Oy. Following the amendments, Tesi Group would be better positioned to operate as an effective state capital investment and corporate financing company.

8.11.2023 | OPERATIONAL GUIDELINES FOR SOLIDIUM 2 October 2023 1. State’s corporate holdings As an owner, the State seeks to maximise overall financial and social benefit and sustainable growth in the management of its assets. The financial benefit is generat...

23.11.2023 | On 23 November 2023, the Government authorised the Ministry of Economic Affairs and Employment to capitalise Drug Development Centre Oy by EUR 20 million. The company’s task is to evaluate early-stage drug development projects and turn them into commercially viable products and companies worthy of capital investment.

13.4.2023 | Russia’s war of aggression in Ukraine and the energy crisis that characterised the whole year affected the operations of state-owned companies and ownership steering in many ways in 2022.

13.6.2024 | The State and the shareholder municipalities of West Railway Ltd – Turku, Espoo, Salo, Lohja, Vihti and Kirkkonummi – have been negotiating on the terms and conditions of the pre-agreement which will enable the transition to the construction phase of the West Railway. Helsinki, which was involved in the planning phase of the project, will not take part in funding the construction phase.

15.8.2023 | Finnish Industry Investment Ltd (Tesi) plays a significant role in the Finnish capital investment market and its operations are considered to be of high quality and expertise. According to an evaluation published on 15 August 2023, Tesi has also become an important player in producing information, providing sparring and building networks. The evaluation was commissioned by the Ministry of Economic Affairs and Employment and conducted by 4FRONT.

17.12.2024 | The European Commission has launched a coalition to promote financing for energy efficiency initiatives. The aim is to create a favourable market environment for energy efficiency investments and to increase private funding for the sector to help the EU achieve its energy and climate targets for 2030 and 2050. The coalition is involved in both EU-level and national activities.

30.8.2022 | “State-owned companies must remain committed to their ambitious corporate sustainability and climate targets even during times of crisis,” says Minister for European Affairs and Ownership Steering Tytti Tuppurainen. This was the minister’s message to the CEOs and chairs of the boards of directors of state-owned companies at a sustainability seminar hosted by the Prime Minister’s Office on 30 August.

21.9.2023 | On 21 September 2023, the Government authorised the Ministry of Economic Affairs and Employment to acquire Climate Fund’s (Ilmastorahasto Oy) 8.31 per cent shareholding in Neste Corporation to return the shares to direct state ownership. A total of 63,894,123 shares will be transferred to the state at the same value as they were originally transferred to the company without monetary consideration.

8.12.2023 | Maarit Merla has been appointed Managing Director of Finnish Drug Discovery Center Ltd. She will start in the position on 1 January 2024. Finnish Drug Discovery Center Ltd is a wholly state-owned company with special assignment, which belongs to the administrative branch of the Ministry of Economic Affairs and Employment and falls under its ownership steering. The company serves universities and research institutes, operators in clinical drug research and companies in the sector across Finland.

5.5.2022 | In 2021, the prolonged COVID-19 pandemic weakened the ability of state-owned companies to generate revenue, while the State continued to provide financial support to the transport sector. The State received EUR 2.1 (0.9) billion in revenue from its shareholdings, with the value of the portfolio totalling approximately EUR 47 (47) billion. In this year’s report on its annual accounts, the State has now also begun reporting on the attainment of sustainability objectives in its portfolio.

19.1.2024 | Finnvera is a very important player in the financing sector of Finnish SMEs, which performs its basic tasks professionally. Its service processes are efficient and high in quality, and it regularly receives excellent customer feedback, finds an assessment of Finnvera carried out by 4FRONT Oy and published by the Ministry of Economic Affairs and Employment on 19 January 2024.