OP Pohjola sets new climate targets and makes national security of supply part of its sustainability programme
OP Pohjola's updated sustainability programme came into effect at the beginning of 2026. Strengthening national security of supply was incorporated as a new objective into the sustainability programme.
The sustainability programme guides the corporate responsibility work carried out throughout OP Pohjola and sets more precise and ambitious goals for it. The update tightened climate targets and added new measures to several themes of the programme, such as the responsible use of artificial intelligence.
"The need for sustainable development has not disappeared. While ensuring national security of supply and local communities' wellbeing in our uncertain business environment, we must build a more hopeful future for young people and future generations," says Timo Ritakallio, President and Group CEO of OP Pohjola.
Comprehensive emissions reduction targets guide climate work
OP Pohjola strives to achieve net zero emissions by 2050. Net zero emissions refers to greenhouse gas (GHG) emissions from OP Pohjola's own operations and emissions caused by its customers' operations: the long-term goal is that OP Pohjola's own and its customers' operations cause no additional GHG emissions. On a Finnish scale, this will have a big impact, as OP Pohjola is a leading player in the financial sector.
"We have already managed to reduce emissions from our own operations to nearly net zero, but the majority of our emissions are caused indirectly from our customers' operations, in other words from finance, insurance and investment activities. With more precise and stricter emissions reduction targets, we want to intensify our customers' climate actions and support Finnish companies in their own climate work," says Katja Keitaanniemi, Executive Vice President of Corporate Banking. Keitaanniemi is responsible for ESG issues in OP Pohjola’s Executive Management Team.
OP Pohjola has set interim targets for its emissions reductions in three sectors: energy, agriculture and housing loans. The emissions target for the corporate loan portfolio has been tightened: the goal is now to reduce corporate loan emissions by 50 per cent by 2035 from the 2022 level.
Insurance's new goal is to reduce the carbon intensity of its non-life insurance portfolio for large corporate customers by 25 per cent by 2030 from the 2023 level. Pohjola Insurance is the first Finnish non-life insurance company to set an emissions target for its insurance portfolio.
The carbon intensity of OP Pohjola's funds has halved from the level in 2019. The updated sustainability programme aims to increase the share of investments that are adapting or have already adapted to a net zero path.
Carbon intensity means the amount of CO2 emissions relative to financial value.
The importance of national security of supply is emphasised in an uncertain operating environment
OP Pohjola is a critical service provider for the security of supply, and OP Corporate Bank is a security of supply bank for the state. Along with developing cybersecurity, strengthening Finland's security of supply has been part of OP Pohjola's responsible operations previously, and now it has been incorporated into the goals of the sustainability programme. In an uncertain operating environment, national security of supply is an important part of the sustainability of society and the economy.
"It is important that we ensure the security of supply of our services and the functioning of society in all situations. We take care of the financial security of our customers and society as a whole by constantly developing our crisis resilience and cybersecurity. We also provide financing for sustainable agriculture to help look after all of Finland," Keitaanniemi says.
The sustainability programme continues to be structured around three main themes: climate and nature, people and communities, and good governance. New and more precise metrics were set for each main theme. Sustainable finance products, responsible investing, supporting local communities and fostering a diverse and equal workplace remained important themes in the new programme.
The sustainability programme for OP Pohjola was approved by the Board of Directors of OP Cooperative on 25 November 2025 and confirmed by the Supervisory Council of OP Cooperative on 4 December 2025. Implementation of the sustainability programme is monitored closely and reported annually as part of OP Pohjola's annual report.
Learn more about the updated sustainability programme, its indicators and calculation principles here: www.op.fi/en/op-financial-group/corporate-social-responsibility/corporate-social-responsibility-programme.
Media enquiries:
OP Pohjola Corporate 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 over 14,000 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