Environmental responsibility

The amount of plastic waste generated globally has doubled over the past 20 years. Over the years, some 30 million tonnes of plastic has been accumulated in the world’s oceans, and as much as 109 million tonnes in rivers. Most of the plastic waste – as much as over 80 per cent – ends up in oceans from land. Although there are known solutions for curbing plastic waste around the world, doing so is challenging due to inadequate waste management and insufficient recycling, as well as the fact that a lot of new plastic is produced around the world. At Savings Banks Group, we have sought opportunities to have a positive impact on the plastic problem.

Starting from the beginning of December 2022, the Savings Banks Group’s customised picture payment cards are made from plastic collected from oceans and shores. Recycled plastic accounts for as much as over 70 per cent of the materials used in the payment cards. This corresponds to the amount of ocean plastic contained in a 0.5-litre soft drink bottle. At the Savings Banks Group, we have also changed the validity of the cards from three to four years. The longer replacement interval reduces the amount of plastic used. 

The Savings Banks Group’s customers can also choose a picture of their own for the payment card, or a picture from our photo gallery. The selection of images provided by the Savings Banks Group includes a picture of a ringed seal, which we offer in collaboration with the Finnish Association for Nature Conservation. For each customer who chooses the ringed seal picture for their card, we donate four euros to support nature conservation.

Get familiar with Savings bank’s payment cards

The carbon footprint illustrates adverse impacts that accelerate climate change, while the carbon handprint illustrates positive climate impacts through reduced emissions.  Säästöpankki Ympäristö is a special investment fund whose investments focus on environmental innovation and impact through companies that contribute to the green transition. The investments are selected on the basis of promoting environmentally sustainable development, which simultaneously contributes to the carbon handprint. 

The estimated emissions reduction through capital investment in solar and wind energy through the Säästöpankki Ympäristö special investment fund is approximately 35,000 tonnes of CO2 during the investment period. This equals approximately 35,000 return flights from Helsinki to London for families of three. 
Säästöpankki Ympäristö special investment fund also makes capital investments in a biorefinery. Renewable biodiesel that uses crude fatty acids as raw material has 80–90% lower CO2 emissions than fossil diesel, which corresponds to approximately 200,000 tonnes of CO2 emissions per year, based on the estimated production capacity of the plant in question. This reduction, in turn, equals the annual CO2 emissions of approximately 70,000 diesel cars. The estimated emissions reduction for this biorefinery during the Säästöpankki Ympäristö investment period is 9,139 tonnes of CO2. 

The investments of the Säästöpankki Ympäristö special investment fund consist of direct equity investments, environmental equity and ETF funds, private equity funds, direct green bonds and cash. The Säästöpankki Ympäristö special investment fund is intended for investors with a long-term investment horizon. Fund units can only be subscribed and redeemed four times per year. Redemptions and subscriptions can be carried out on the last day of March, June, September and December.   

More information on the impact of the Säästöpankki Ympäristö special investment fund and the positive environmental impacts of the funds is available in our Responsible Investment Review.