Finland boosts investments in green transition

The government has adopted a proposal to boost investments in the green transition with the view to reduce Finland’s dependence on fossil energy, increase energy self-sufficiency and move towards an ecologically more sustainable economy.

The proposal would prioritise the permit applications concerning investment projects that are important for the green transition in the permit procedures under the Environmental Protection Act and Water Act at the Regional State Administrative Agencies in 2023–2026, said the Ministry of the Environment in a press release on Thursday.

The act would enter into force in the beginning of 2023. During this autumn, the appropriation allocated for the preparation and performance guidance will be used to make sure that the implementation of the priority procedure by the permit authorities can be started as soon as possible.

"The green transition to renewable and decentralised forms of energy is the only sustainable way out of the energy crisis caused by the Russia’s war of aggression and the dramatic fluctuations in the prices of fossil energy. The fast track we have now created will ensure that clean investments can proceed without delays. This is important in terms of both climate measures and energy self-sufficiency,” said Minister of the Environment and Climate Change Maria Ohisalo.

In their permit procedures, the Regional State Administrative Agencies would give priority to certain projects related to renewable energy, low-carbon hydrogen production, electrification of industry, carbon capture and utilisation and battery industry that follow the principle of No Significant Harm.

The Government considered these as the key fields and sectors in promoting the green transition and increasing the share of clean energy.

“The aim is to launch investments in the green transition fast. However, smoother permit procedures will not mean that we would in any way compromise the environmental impact assessments of projects,” Ohisalo said.

In its budget session last spring, the government pledged to allocate more personnel resources to speed up and support the processing of permits by the authorities and the appeal processes in administrative courts.

Besides this, the Centres for Economic Development, Transport and the Environment will receive EUR 4.1 million and Regional State Administrative Agencies EUR 2.5 million in additional funding over the next three and a half years.