Technology Industries of Finland at COP29 Climate Conference
Technology Industries of Finland will participate in the UN Climate Conference (COP29), which begins on November 11 in Baku, Azerbaijan. The key messages at the conference include investments by Finnish technology companies and the carbon handprint of their products and services.
Technology Industries of Finland will attend the UN Climate Conference from November 11 to
22, alongside other business representatives as part of Finnish delegation. The focus of the
conference will be on climate action financing and investments.
The climate conference gathers annually world leaders, companies, and NGOs from around
the globe. From Technology Industries of Finland Annukka Saari, Director of Energy and
Climate Policy, Akseli Koskela, Deputy Director of EU-regulation, and Marjo Ollikainen,
Communications Manager are invited to the Finnish delegation.
“The climate conference provides companies with the opportunity to contribute to the
development of global climate policy. The aim is to create a sustainable foundation for future
regulatory and policy development and to promote business opportunities that reduce CO2
emissions,” says Annukka Saari.
Finland has the world’s most ambitious carbon neutrality targets, and it is one of the leading
countries in clean solution innovations. Technology Industries of Finland supports the
country’s goal to become carbon neutral by 2035 and its efforts to limit the rise in the Earth’s
average temperature.
Goals: sustainable investments and CO2 emission reductions
The challenge is that the easiest emission reduction measures in Finnish industry have already
been implemented. Over the past four years, the direct emissions of technology industries
have decreased by seven percent, and the annual use of fossil fuels has dropped by 11
percent. The emissions from purchased energy used by the industry have decreased by as
much as 45 percent.
“Finnish technology industry products and services have the potential to significantly reduce
global CO2 emissions. This, Finnish carbon handprint, is one of our central themes at the
conference, and this is why it’s crucial that the solutions and voice of Finnish technology
industries are heard in Baku,” says Akseli Koskela.
The majority of the indirect, or operational, emissions from Finland’s technology industries
arise from activities that are not attributable to or under the control of Finnish suppliers’
products or services.
“The challenges and solutions now lie particularly in reducing emissions across companies’
value chains, and global companies and potential clients can also be reached at the climate
conference,” Saari adds.
Other key themes for the sector at the conference include sustainable investments and the
findings of the industry’s new low-carbon roadmap toward carbon neutrality. The hydrogen
economy, in particular, offers a significant role in green steel production, and bio-based
captured carbon dioxide opens up new business opportunities and climate benefits.
“In addition to global climate benefits, by investing in climate action, Finland can create
sustainable jobs for the future,” Koskela emphasizes.
Key themes of Technology Industries of Finland at the Climate Conference:
• Ambitious Goals: Technology Industries of Finland supports the country’s goal of
becoming carbon neutral by 2035 and efforts to limit the rise in global average
temperature. This requires significant emission reductions, electrification of industries,
and an increase in the use of renewable energy. Developing these solutions demands
substantial investments, international cooperation, and the utilization of new
technologies.
• Sustainable Investments: Investments in technologies that reduce CO2 emissions,
improve energy efficiency, and utilize smart energy management systems are
essential for the modernization of industries.
• Advancing the Hydrogen Economy: The greatest impact of hydrogen on industrial
emissions is seen in the transformation of the steel industry, where in Finland alone,
a potential reduction of over 10% of emissions can be achieved by 2050.
• Promoting Exports Through the Carbon Handprint: Low-carbon products and
services are developed through innovation and offering solutions that help customers
reduce their own emissions. Finnish technology companies’ capabilities and solutions
play a crucial role in reducing global emissions. According to calculations by
Technology Industries of Finland, the most significant handprint potential lies in raw
materials and energy-dependent offerings, amounting to 75 MtCO2.
• Carbon Capture and Utilization (CCU): Products made from captured carbon
dioxide will play a critical role in achieving EU and global climate goals, and Finnish
industry, in particular, has significant business opportunities in this area. The annual
value of products made from captured CO2 could reach up to seven billion euros by
2040.
We will report on updates from the conference and negotiations in an ongoing article on this
website.
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