EK stresses business environment changes in climate preparations

Confederation of Finnish Industries (EK) on Monday issued a report on climate change and the economy, urging that preparations for the climate change should not only focus on reducing emissions, but also follow the changes in the business environment and value chains.

The report noted that climate change will impact the availability and price of raw materials, delivery routes and location of production, and that new markets could be found for low-emission technologies and circular economy.

It said Finnish internet sales could find new business opportunities in the Chinese and Russian markets. The report predicted that the aims of China in environment and climate issues will push the technological development further.

The report also noted that Finnish industries could benefit from the climate change and environmental protection factors in some ways. For example, Finnish textile and clothing industries are predicted to benefit from stricter climate policies as Finnish innovations about recycling textile fiber will have demand. Besides, water shortage could increase the need for Finnish water purification technology.

The EK also predicted that climate factors may have a strong geopolitical and trade policy connection in the future.

The EK is a leading employers' association in Finland. Its member companies collectively have a dominant contribution to Finland's GDP and exports.