Responsible investor and owner
Finnish Industry Investment Ltd (FII) promotes Finnish business, employment and economic growth through venture capital and private equity investments. Promoting a favourable business environment and fostering growth in a sustainable manner over the long term is best achieved when all aspects of corporate responsibility are addressed, both in-house and in portfolio companies. This means taking into account environmental, social, economic and corporate governance issues at all levels of operation.
FII's operations are governed by law and must be profitable in the long-term. FII's operations are guided by:
- annually adopted investment policy
- company's risk management policy
- Impartiality Instruction
- Insider Instruction
- Instruction for Notification of a Concentration
- responsible investment principles
FII is a member of the Finnish Venture Capital Association (FCVA) and the European Private Equity and Venture Capital Association (EVCA), and follows the guidelines of these associations concerning ethics and corporate governance.
FII is a member of Finsif – Finland’s Sustainable Investment Forum. Founded by a group of Finnish investors, asset managers and other investment professionals, FINSIF aims at promoting responsible investment taking into account factors related to the environment, society, and corporate governance.
Responsibility themes in 2014
The main themes for responsibility in 2014 were: maintaining in-house responsibility practices and strengthening in-house responsibility expertise; proactive interaction with portfolio companies and fund management companies, and participation in the Network for Sustainable Mining.
FII promotes the implementation of responsibility at two levels: in its in-house operations, and also in the operations of the companies and funds in its portfolio. The company maintains ongoing interaction with stakeholders about responsibility, promoting corporate responsibility as an area for discussion and development. FII also uses its interface with portfolio companies to share individual sectors’ practical experiences and any challenges to the development of corporate responsibility. The continuation and development of this work will form a central component of corporate responsibility efforts also in the future.
The company arranged a workshop on responsible investment for its personnel, in collaboration with an independent consultant. Annual training aimed at strengthening expertise in responsible investment is both long-term and systematic.
FII has conducted a questionnaire review of the companies and funds in its portfolio to determine their corporate responsibility and responsible investment practices, as well as their plans for these in the future. The survey will be conducted at regular intervals from now on. Separate corporate responsibility reporting is not required of portfolio companies at this stage.
FII has been a member of the Network for Sustainable Mining since it was launched. The network’s activities will promote Finland as a leader in sustainable mining and make the country an attractive investment location – in which successful mining not only addresses environmental values, but also takes into account the needs of cultural and social communities as well as other businesses and organisations.