OP Pohjola publishes an overview of its climate work
OP Pohjola's transition plan brings together OP Pohjola's climate work targets, actions and progress. The transition plan shows how OP Pohjola reduces its climate impact and supports its customers' transition towards a world envisioned by the Paris Agreement.
"The financial sector plays a key role in accelerating the green transition. OP Pohjola is one of Finland's largest providers of financing, and we want to support our customers in their transition towards more low-emission solutions," says Katja Keitaanniemi, Executive Vice President of Corporate Banking. Keitaanniemi is in charge of sustainability matters in the Executive Board of OP Cooperative.
Towards net zero emissions
OP Pohjola is committed to the target of the Paris Agreement, which aims to limit the global temperature increase to 1.5°C. OP Pohjola aims to achieve net zero emissions by 2050 and is committed to reducing extensively both direct emissions of its own operations and indirect emissions of its financing, investment and insurance business operations.
OP Pohjola's climate targets include reduction of greenhouse gas emissions, offering sustainable financing and investment products and promoting the circular economy. OP Pohjola has also set business-specific restrictions related to fossil fuels, and is increasing the sustainability competencies of its personnel.
Transition carried out together with customers
In order to achieve its climate targets, OP Pohjola provides its customers with sustainable financing and investment products and cooperates actively with its customers.
We offer sustainable financing solutions, such as green loans and sustainability-linked products that support, for example, energy efficiency, renewable energy and low-emission construction. In investment activities, we analyse companies from the viewpoint of climate targets and take active steps in their development to reduce emissions related to our investments. Within insurance, our work for the climate can be seen especially in the form of promoting the circular economy in claims settlement and in the management of climate-related risks.
Climate work proceeding at target speed
OP Pohjola is making progress in its climate work as a rule at target speed or faster. According to transition plan follow-up, emissions related to financing have reduced at a faster rate than planned.
OP Pohjola is committed to cutting 50% of emissions of its corporate loan portfolio by 2035, compared with the 2022 level. Emissions reduction targets have been set for mortgages, agricultural corporate loans and energy production corporate loans. Financed emissions within these have also reduced faster than the target rate.
In terms of investments, the target of halving the emissions intensity of funds was already reached in 2024, while the emissions intensity of insurance companies's investments has reduced at target rate.
Pohjola Insurance has set a new reduction target for emissions by its major customers, that is, the emissions intensity of its insurance portfolio, at the beginning of 2026.
OP Pohjola has reduced emissions of its own operations by almost 99% since 2021. The percentage of renewable energy used for real estate in its own use has risen to more than 99%.
OP Pohjola's climate work continues with determination, and progress of climate targets is monitored regularly. The exact definitions, calculation principles, specific years and actuals are available in OP Pohjola's transition plan.
The targets of the transition plan are part of OP Pohjola's sustainability programme. The realisation of targets in the sustainability programme and transition plan is also reported in OP Pohjola's Annual Report, published on 12 March 2026. The Annual Report is available at vuosi.op.fi/en/2025.
Read more about OP Pohjola's transition plan here: op.fi – About OP Pohjola – Sustainability – Climate goals and targets – OP Pohjola's transition plan.
Media enquiries:
OP Pohjola Communications, tel. +358 10 252 8719, viestinta@op.fi
OP Pohjola is Finland’s largest financial services group, with more than two million owner-customers and approximately 15,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Pohjola consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for 120 years now. www.op.fi