Green investments could boost Finland's GDP: report

Finland's gross domestic product (GDP) would see an annual increase of 3 billion euros if just 20 percent of the planned green investment projects were implemented, reported Xinhua, quoting a report published by the Confederation of Finnish Industries (EK) on Tuesday.

The report highlights that nearly 270 billion euros worth of green transition projects are currently pending, with the majority still in early planning stages.

Analyzing the potential impact over the next 30 years, the report suggests that if 58 billion euros worth of projects -- roughly 20 percent of all the plans -- were implemented, Finland's GDP would rise by approximately 1 percent annually, accumulating to 96 billion euros in three decades.

In addition to GDP growth, the report projects an annual increase of 12,000 persons in employment and an extra 540 million euros in tax revenues each year.

Ulla Heinonen, EK's head of green growth, noted that these economic effects could be even higher if tax relief measures were introduced for green investments, along with regulatory reforms to streamline permit processes and boost Finland's competitiveness in the global market.