Jerry Ralowski

The Finnish Government has published an initiative to introduce a Finnish tax incentive for large-scale green industry projects as part of the General Government Fiscal Plan for 2025–2028. Based on current information, the tax incentive will be a fixed-term scheme to support new investments in the green industry, such as battery, hydrogen, and green steel projects, that are decided upon and approved for the scheme by 31 December 2025.   Further details of the criteria and application of the new tax incentive will be published by the legislator, but initially the amount of the tax incentive would be 20% of the total value of the investment and up to EUR 150 million per eligible project.   In addition to the detailed criteria on eligible projects and details on the tax incentive determination method, it also remains to be seen how broad a sector of the green energy industry the eventual tax incentive will cover. For example, it is still unclear whether the incentive’s green industry concept will also include wind and solar power production in addition to the initial list mentioning battery, hydrogen, and green steel projects.   Hannes Snellman will be following the advancing of the new tax incentive for large scale green industry projects, and our experts from the Tax and Real Assets Practices are happy to discuss opportunities to apply the new tax incentive scheme on contemplated green industry projects. Maria Landtman Klaus Metsä-Simola Katja Perätalo Tapio Teräkivi Harri Vehviläinen Heikki Vesikansa #taxincentive #greenindustry

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Finsilva Oyj, a forest and natural capital company majority owned by CapMan Natural Capital through Dasos Capital funds, is deepening its collaboration with the Finnish energy company Pohjan Voima to increase renewable energy production on Finsilva's lands. 🔄⚡️   The strategic partnership aims to identify and develop new opportunities for wind farms, solar parks, and battery storage facilities. Five project areas have already been identified and progressed to the preliminary planning phase with the collective potential to generate an estimated 500 megawatts of wind and solar energy. Once the projects reach the investment phase, Finsilva and its owners will have the opportunity to make minority investments in the projects developed within the co-operation framework.   “Projects offer our investors the opportunity to further invest in renewable energy produced in Finland. Securing of forest sustainability and biodiversity are at the core of our activities also in the renewable energy projects,” says Sami Veijalainen, Partner at CapMan Natural Capital.   In addition to the newly identified projects, three of Pohjan Voima’s current wind farm projects are already located partially on land owned by Finsilva. #capman #renewableenergy #naturalcapital

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Climate Risk Disclosures and Auditor Expertise https://lnkd.in/dSNyPYzm Ly Pham , David Hay , Antti Miihkinen , Emma-Riikka Myllymäki , Lasse Niemi , Jukka Sihvonen Abstract Many jurisdictions are establishing requirements for corporations to disclose climate-related risks, and for those disclosures to be audited. One of the first jurisdictions to do so is Australia, where the Australian Accounting Standards Board (AASB) and Auditing and Assurance Standards Board (AUASB) issued a Joint Bulletin in 2018 stating that both preparers and auditors should consider the impact of climate risks on the company’s financials. Utilising the Australian setting, this paper introduces a new measure of audit partner expertise, namely expertise in climate-related issues, and examines whether it is associated with the client company’s climate risk reporting. We define audit partner expertise in climate-related issues based on their client portfolio composition in terms of greenhouse gas emissions. We find that the likelihood and quality of climate risk disclosures is higher when the audit partner has climate risk expertise, and this finding is driven by clients in industries with material climate risks.

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🎤 "Investments are needed to realize a Greenlandic mining adventure!" - says minister of mining in Kalaallit Nunaat (#Greenland), Naaja H. Nathanielsen, in an article in Børsen (in Danish only). ❗This goes without saying, and there are nuances to this headline (and that's why you should read the article and others related). Today there are more and more demands to sustainable mining (which is the right way to go). However, we can't have sustainable mining and high ESG standards without being willing to pay more to get it and develop it. Sustainability in mining doesn't come at a discount. And that's the underlying mesage in this article. 📢 In this article Minister Nathanielsen shouts out to the European Commission (and indirectly the European Investment Bank (EIB) and other related EU and investment bodies) with that particular message and two ideas: (1) that the EU introduces minimum prices on minerals and/or (2) that the EU establishes a fund for green transition, where companies can apply for some of the critical stages in sustainable mining. Word! #sustainablemining #greentransition #Greenland #EU https://lnkd.in/dPTPsYvq

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【Event Recap】On September 5th, 2024, Swedish Chamber of Commerce in China successfully organized the event Sourcing Survey Report 2024 – From Global to Regional, co-hosted by FinnCham China and Norwegian Business Association China in Beijing. The seminar explored the significant shifts in global sourcing strategies, highlighting key insights from the ARC Group sourcing report. Key Takeaways: 1. Global to Regional Shift: The ongoing transition from global to regional sourcing is becoming more pronounced, as businesses seek to strengthen supply chains and mitigate risks. 2. Cost Pressures and Logistics: Increasing costs and logistical challenges remain top concerns for companies, making sourcing diversification and resilience strategies critical. 3. Southeast Asia's Role: Vietnam and other Southeast Asian countries continue to rise in prominence as key sourcing destinations, particularly in the furniture, consumer goods, and electronics sectors. 4. Sustainability Focus: ESG considerations are growing, with businesses prioritizing compliance and transparent supply chain practices. A big thanks to our speaker Johan Annell, Partner at ARC Consulting, for sharing his valuable insights. A special thank you as well to all participants and contributors who helped make this event a success! Stay tuned for the next Sourcing Survey Report 2024 – From Global to Regional event, which will take place in Shanghai on September 12th! You can find the report at the link below: https://lnkd.in/diYFr8p6

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Gofore Plc’s Interim Report January-March 2024 is published 🗞️ CEO Mikael Nylund: "Although risks remain in both geopolitics and macro economy, we believe that the growth lever from the market is strengthening." • Gofore was not immune to industry over capacity and price competition, but managed to maintain good profitability. Adjusted EBITA 6.8 (8.3) million euros, 13.8%. • No net sales growth, 0%, net sales were 49.2 (49.1) million euros. Organic growth -2%. • Beginning of the year saw ending projects and savings measures that put a strain on the utilisation rate. • Improving demand and sales successes lead to a moderate improvement in utilisation rate towards the end of the quarter. • There was one less working day than in the comparison period, profitability impact of an estimated 0.7 million euros. • Customer prices rose +0.9%, average salary +2,2%. • Number of employees grew to a total of 1,456 (1,354) people. Read the report on our site: https://hubs.ly/Q02trm-k0 #GoforeIR

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Stay ahead in banking and finance law. At RE:FI STHLM, we’re dedicated to delivering expert insights on the latest trends, legal updates, and innovative strategies for transactional finance and restructuring. Sign up for our newsletter and receive timely, valuable content that helps you stay informed and ahead of the curve. Don’t miss out—join our mailing list today and be part of the conversation shaping the future of finance law. Sign up here: https://lnkd.in/dJWbYjTr #BankingLaw #FinanceLaw #LegalUpdates #REFISTHLM #IndustryInsights #Newsletter

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We are pleased to announce an agreement for a recommended voluntary offer by Olympus Bidco Partners to acquire all outstanding shares in ECIT. The price per ECIT share offered to ECIT shareholders will be NOK 10, corresponding to an equity value of approx. NOK 4.65 billion for ECIT. Following completion of the offer, the existing shareholders of ECIT will control Olympus Bidco, with TowerBrook Capital Partners L.P. as a large minority shareholder. This offer allows eligible shareholders to roll over their shares, either partially or fully, providing an opportunity to continue to take part in the future value creation created by ECIT, now in a private setting. The partnership with TowerBrook will provide ECIT with the financial potential to do larger, transformative acquisitions. It will sharpen the entrepreneurship in ECIT as our people will develop from being the original local entrepreneurs to adopting a more professional and disciplined approach necessary for creating performance in a larger, yet still local, organisation. You can read the full company announcement via the link below https://lnkd.in/d9hsJ-dF ECIT Norge ECIT Danmark ECIT Sverige

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Summer’s read   If you’re looking for Europe’s technologies industries recommendations on #digital policy, then look no further. As one of the members of Orgalim, Teknikföretagen has been actively involved in putting together the following recommendations for the five years ahead. 1. Effective #implementation of digital rules 2. Boost digital #investment and capacity 3. Promote a strong and trusted industrial #data ecosystem 4. Advance industrial #artificial intelligence 5. Clarify overlaps and ensure efficient governance of #cybersecurity rules 6. Initiate more #international digital partnerships

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Join Us: Sweden's Fintech Innovation Landscape 2024. Are you ready to explore how the Nordic fintech powerhouse is shaping the future of financial technology? KPMG's latest Fintech Pulse highlights game-changing trends that are transforming the industry: - Enterprise solutions becoming the next big frontier. - AI revolutionizing cybersecurity & regulatory compliance. - ESG opening new doors in green finance. - Asset tokenization emerging as a key investment focus. Learn from Swedish market leaders like Klarna, Trustly, and Zettle by PayPal who are already embracing these innovations! Don't miss our expert panel on November 28th featuring: Anders Norlin - Strategic adviser and venture builder specializing in fintech & climate tech. Michael Akampa - Co-founder of Ultiro & Nobon, pioneering climate finance innovation. Kim Sandström - Senior advisor at Ultiro with 10+ years in fintech strategy. What you'll gain:  ✓ Insights into navigating regulatory frameworks. ✓ Partnership opportunity identification strategies. ✓ Emerging technology implementation tactics. ✓ ESG innovation opportunities. Perfect for fintech companies from developing countries. Time: 13:00-13:55 Swedish time (UTC+1). Best part? It's completely FREE! Organized by Kommerskollegium | National Board of Trade Sweden. Ready to dive into Sweden's fintech ecosystem? Register now: https://lnkd.in/dtayVyvC #Fintech #Innovation #SwedishTech #GreenFinance #AI #DigitalTransformation #ESG #FinancialTechnology

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take a minute are you part of building a better tomorrow? we are by undertaking a massive industrial green revolution in northern Sweden large industries are paving the way for a zero-carbon lifestyle creating carbon-free transportation using hydrogen as an enabler for decarbonization finding new processes for steelmaking utilizing green resources to develop sustainable businesses and exploring space-based innovation through this, we want to inspire innovation spark a transformation across the globe this isn't just an industrial shift but a major societal change and it all revolves around people at the core we are mining, refining, and producing the building blocks of a fossil-free society and the core needs people people need a place to live space to play and a thriving community people need a society from ports to biking routes from contractors to schools from conference facilities to bakeries the road ahead means scaling every piece between the core and the people and to do it fast all at once but do we have the power, the people, the purse to really make it happen? to be honest we can't make it happen ourselves but we know this if we shift perspective new things will emerge hidden in this journey of building sustainable societies are countless opportunities for innovators, entrepreneurs and people so, we ask you again are you part of building a better tomorrow? we are 🎬 by Invest in Norrbotten on the magnitude of the green transition happening right now in northern Sweden. Don't miss it.

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Yesterday morning, we discussed management with responsibility data at the breakfast event organized with Boardman Oy, Futurice, and PwC Finland 💚 As Tuomas Kotilainen put it, pioneering companies are leveraging the investments and lessons from mandatory reporting for the green transition to enhance management capabilities. Responsibility reporting accelerates the development of conditions for data-driven business, such as value chain management and supporting architecture and data governance. The result? The ability to understand different perspectives simultaneously – a prerequisite for managing a profitable green transition 🌱 #datavalue #ESG #CSRD Ps. If you wanna dive into the data engineer's POV on the matter, check out https://lnkd.in/d8_7DiB6

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Hello Flowcore on the Faroe Islands. I want to highlight some of the companies that are being connected to the internet of investors, in part due to shipshape.vc Human capital is more evenly distributed than access to financial... and there are great investment opportunities in that asymmetry. #capitalraising #startups #fundraising #founders #venturecapital #investors #vc #vcfunding #technology #startup #tech 

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European Union’s 🇪🇺 Critical Raw Materials Act aims to ensure the supply of raw materials critical for the economies of member states and for the clean transition by strengthening production, processing and recycling of strategic raw materials. The Nordic countries 🇩🇰 🇫🇮 🇮🇸 🇳🇴 🇸🇪 have significant opportunities in driving this transition and the countries in the region in many respects supplement each other. The Nordic countries should seek strategic co-operation both around these critical raw materials but also other key areas of the transition, including carbon capture and storage, hydrogen and related industries. I wrote a short opinion piece on this for Finnish Kauppalehti. https://lnkd.in/dTwaJQPP

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✍ How to ensure a smooth and tax-efficient transfer of your investment company to the next generation? The Supreme Administrative Court's recent decision (KHO 2024:68) underlines the importance of careful planning in case of generation shifts in investment companies.   The decision both clarifies and tightens the conditions for applying the generation shift relief, which can reduce the gift and inheritance tax burden significantly. The Court emphasises the importance of an overall assessment, and the decision provides guidance on how to assess whether an investment company engages in business activity in the manner required.   Even if the generation shift relief is not granted, there may be other efficient ways to transfer an investment company to the next generation. We at Hannes Snellman can help you find the best option for your situation, considering taxation, financing, and other aspects. Read more on the blog post by Isabella Kartila and Stefan Stellato. #tax

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ICYMI: Finnish venture capital and private equity funds generate good returns, compared to both listed market and European counterparts. This is now the second comparison of returns from Finnish VC&PE funds to those from the listed market, and the results still look good: the returns from 75% of the funds of 2009–2020 vintage exceed the returns generated by the listed market. The top quartile of the funds generated returns 2.5 times higher than the listed market. Venture capital funds investing in startups have excelled: Finnish funds raised after the financial crisis (2009–2015) achieved annual percentage returns of 20%. In terms of their returns, over one-half of these funds are positioned in the top quartile compared to their European peers. “An interesting feature is that newer buyout and growth funds boosted their annual percentage returns by two percentage points compared to the previous year. Given the prevailing economic challenges, that’s very positive news,” comments Arttu Suominen, Tesi's Investment Associate who compiled the survey. Read more:

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Yes, negative electricity prices have been real throughout the summer, at least here in Finland. How about your region? Check Spotlight on how this interplays with other future developments: https://lnkd.in/dFx3f8aH #future #foresight #strategicforesight #energy #electricityprices #renewables

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The Finnish Government has published an update on the initiative to introduce a Finnish tax incentive for large scale green industry projects as part of General Government Fiscal Plan for 2025– 2028. Based on updated information, the tax incentive continues to be a fixed-term scheme to support new investments in green industry, such as energy storages (batteries etc.), hydrogen projects, biofuels, and green industry projects, that are decided upon and approved for the scheme by 31 December 2025. However, the scheme would not include renewable electricity production.   Furthermore, the amount of the tax incentive would continue to be 20% of the total value of the investment and up to EUR 150 million as a credit of payable tax per eligible project of a group of companies.   The tax incentive scheme is to be submitted to the EU Commission during summer 2024, and subsequently draft legislation is to be circulated for comments in autumn 2024.   Hannes Snellman will follow the advancing of the new tax incentive for large scale green industry projects, and our experts in the Tax and Real Assets practices are happy to discuss the opportunities to apply the new tax incentive scheme on contemplated green industry projects. Maria Landtman Klaus Metsä-Simola Katja Perätalo Tapio Teräkivi Harri Vehviläinen Heikki Vesikansa #taxincentive #greenindustry

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Time for all sustainable, energy relevant disruptive, impactfulness ideas to get the boost needed to take your startup further! With extensive expertise from Sting that has supported so many clean-, green-, sustain- and climatetech companies in the past you are in good hands! Log in to the webinar May 7th to be inspired! See you there!

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