Savings Banks Group
Savings Banks Group is making a significant move by becoming the first financial institution to join BSAG’s Carbon Action network to promote agricultural regeneration. As part of its Baltic Sea Commitment, the bank is developing a new financing solution that encourages farmers to transition to regenerative agriculture.
Collaboration in a seashell
Savings Banks Group is joining BSAG’s Carbon Action network to support the protection of waterways and to strengthen Savings Banks customers’ knowledge and skills in regenerative agriculture. Through its Baltic Sea Commitment, the banking group commits to working together with BSAG to create financing criteria for regenerative agriculture and based on these, to launch a new financing solution. The aim is to reward farmers for transitioning to regenerative agriculture. The criteria for the new financing will be made freely available to the entire financial sector. Savings Banks Group encourages the financial sector to adopt and further develop these criteria.
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independent Savings Banks part of the Saving Banks Group
The financing solution developed by Savings Banks Group will be the first of its kind in Finland.
Baltic Sea Commitment
The Savings Banks Group is joining the BSAG Carbon Action network to support the protection of water bodies and Savings Banks’ customers’ knowledge and competence related to regenerative agriculture. The Savings Banks Group’s Baltic Sea commitment includes creating financing criteria for regenerative agriculture, increasing the competence of financial specialists and agricultural customers, and communicating about regenerative agriculture. This supports the mitigation of the environmental impacts of the agricultural sector and the improvement of risk management and profitability in the agricultural business. It also supports the continuity of the general security of supply in Finland.
Commitment objectives
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Financing criteria for regenerative agriculture
The Savings Banks Group commits to promoting regenerative agriculture in Finland in accordance with the criteria laid down by BSAG. In cooperation with BSAG, the Savings Banks Group will create financing criteria for regenerative agriculture and based on the criteria, launch a new financing solution that provides incentives for transitioning to regenerative agriculture. The criteria will be freely available for use in the financial sector, and the Savings Banks Group encourages their use and development.
With the Baltic Sea commitment, the Savings Banks Group joins BSAG’s Carbon Action network.
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Know-how for promoting regenerative agriculture
The Savings Banks Group will provide its agricultural customers with access to various resources produced by the Carbon Action platform, which support the transition to regenerative agriculture.
The Savings Banks Group will organise training for its personnel on the themes of the Baltic Sea commitment so that the financial specialists have the best possible expertise to support agricultural customers in the transition to regenerative agriculture and understand its diverse benefits for the agricultural sector. - Started
The Savings Banks Group will communicate that regenerative farming is an important part of the green transition of the agricultural sector
The Savings Banks Group commits to actively communicating its efforts related to the criteria and the financing solution to the stakeholders concerned.
In addition, the Savings Banks Group commits to communicating more broadly about regenerative agriculture to the general public in a positive and understandable way.
Information about the partner company
The Savings Banks Group is Finland’s oldest banking group, comprising independent savings banks located around Finland, the Federation of Finnish Savings Banks, the Central Bank of Savings Banks, Sp-Mortgage Bank, Sp-Fund Management Company, Sp-Koti, and Savings Banks Services.
Customers play an important role in the governance of the savings banks. As members of the savings banks’ boards, they guide and lead the bank’s operations, determine the bank’s direction, decide on strategy and business objectives, and select the bank’s CEO.
The Savings Banks Group’s key business segments are banking, asset management and life insurance, as well as other operations, such as the Sp-Koti real estate agency service and support functions. The savings banks’ own range of products and services covers all key banking services. This offering is complemented by comprehensive financial sector services and products produced together with partners who share The Savings Banks Group’s values.
As a bank, we have the opportunity to support the green transition. With the Baltic Sea Commitment, we can offer our customers financing solutions that support regenerative agriculture and reduce climate impacts, while strengthening the sustainability of the entire domestic food system
Petri Siviranta, CEO, The Savings Bank of Somero
Our corporate partners
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