In today’s society, economic growth and responsibility go hand in hand. They also lead to a safer and more prosperous society. In Finland, we can operate within a long-term investment and infrastructure development framework, in a politically and economically stable society. Our companies recognize that sustainable economic growth is not only financially sensible but also ethically necessary. In practice, this means achieving economic growth in a way that respects the environment and our society. Good examples of this are using renewable energy sources, adhering to the principles of the circular economy, and promoting social justice. Companies that are genuinely committed to sustainability and responsible business practices and actively develop the related business processes not only improve their reputation, but also generate far-reaching economic benefits. For example, Finland’s investment in clean electricity led to the lowest electricity prices in Europe in July 2024. For investors and customers, as well as other key stakeholders such as employees and financiers, truly responsible companies are seen as more innovative and attractive. To attract investment to Finland, we as business decision-makers must do our part to ensure that the organizations we run, deliver the attraction that investments require.

At Gasgrid, responsible business is not just about the way we do business, our whole existence is based on promoting clean transition, energy independence, and strong security of supply for our society. We start our working day in a socially significant community that sees great opportunity in the change that energy disruption brings. Our future multi-gas platform will be built to serve the market demand for low-carbon energy sources, creating jobs and boosting the entire Finnish energy sector. In line with the Government’s decision in principle, we are committed to claiming Finland’s place at the forefront of the European hydrogen economy. We aim to create good and predictable conditions for investment in Finland, especially in the production of hydrogen and the downstream industry that uses it. A functioning and productive hydrogen economy enables growth in its various value chains, such as technology and service companies, and brings the necessary vitality to the regions. The large hydrogen production potential also provides Finland with significant export earnings. Every decision-maker should think about what replacing foreign fossil imports with domestic energy-requiring technologies and services can mean for them – and what am I prepared to do in concrete terms?

Combining economic growth and responsibility is not always easy, but it is possible. Finland’s clean and secure energy palette is an example of what a genuine commitment to sustainability and responsibility can deliver. We business decision-makers have an important role to play in this work. To serve sustainable development and economic growth, we can, for example, promote investment in green technologies, strengthen product and service development based on sustainability, and strive to ensure job creation and the professional competitiveness of our talents in the international arena. Governments can support this development by providing incentives and regulations that promote sustainable economic growth. In many cases, sustainability can be seen from a limited angle or as adding to unnecessary reporting. Artificial intelligence will hopefully help on the latter point. The benefits-first approach has helped, at least in our small business, to integrate it throughout the organization – part of our company DNA.

In the future, the importance of economic growth and accountability will become even more important. Climate change, resource depletion, and social inequality are global challenges that require urgent action from us. Responsible economic growth offers solutions to these challenges and lays the foundations for a sustainable and equitable future. The development of a hydrogen economy requires significant investment in infrastructure and technology, but the benefits it brings – a cleaner environment, energy independence, new industries, and jobs – represent an opportunity we cannot afford to miss. At the same time, we are also enabling a safer and better-off society for all of us. Today at the latest is a good time to start integrating clean growth and the hydrogen economy into the responsible strategies of our companies!

Olli Sipilä, CEO, Gasgrid

The blog is produced for the No Bullsh*t! Corporate Social Responsibility Program directed for corporate decision-makers by the Chamber of Commerce Finland.