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Aalto University involved in brainstorming winning finance sector innovation

A working group led by OP created the best financial innovation for tackling climate change.
Aalto-yliopiston mustekynä ja matematiikan laskukaavoja. Kuva: Aalto-yliopisto / Aino Huovio
Photo: Aalto University / Aino Huovio

A working group with representatives from OP, Aktia Bank, Aalto University School of Business and Hanken has won the South Pole idea competition, which was seeking out the best financial innovation for combating climate change. Last autumn, the group participated in the competition with an initiative related to the registration of companies’ ESG (Environmental, Social and Governance) data at the EU level. South Pole is the world's leading provider of responsible financing solutions and services.

Worldwide, there are already a number of different reporting methods that can be used to form a shared, comparable minimum ESG reporting model. The goal of the group’s initiative is to collect and disseminate ESG responsibility data reported by companies publicly within the EU. For companies, this would facilitate voluntary ESG reporting and access to finance. For investors and financiers, the register would improve the availability and comparability of data, which would promote the transparency of SMEs in particular.

‘I am really happy about the excellent reception of this OP initiative,’ says Associate Dean Matti Suominen from the School of Business.

This multi-party, successful initiative was developed in October 2019, after which it progressed to the financial sector and the European Association of Co-operative Banks (EACB). Participating in the competition organised by South Pole were investors, companies and higher education institutions from around the world.

Further information:
Matti Suominen
Associate Dean, Research and International Relations
School of Business
[email protected]

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