Sitra joins the new Sustainable Investment Forum for Finland...
We build a successful Finland for tomorrow's world.
Our operations are guided by a vision of Finland as a leader in sustainable well-being. We take the view that well-being is sustainable when it is shared by people, the environment and the economy
As a fund operating directly under the Finnish Parliament, our decision-making processes are tied to parliamentary systems. Our administration includes a Supervisory Board, Board and President.
Sitra is a team of 110 Finnish and international specialists. Open positions are always announced on our website Sitra.fi.
Sitra is a public fund aimed at building a successful Finland for tomorrow. We are forward thinking and anticipate social change and its effect on people. Our activities promote new operating models and stimulate business that aims at sustainable well-being.
Sitra was founded as an organisation of the Bank of Finland in 1967 to honour the 50th anniversary of Finland's independence. The fund was commissioned with the task of promoting Finland's stable and balanced development, economic growth and international competitiveness and cooperation. Sitra's tasks are defined by law. In 1991, Sitra was transformed into an independent fund that reports directly to the Finnish Parliament.
Our operations are guided by a vision of Finland as a leader in sustainable well-being. We take the view that well-being is sustainable when it is shared by people, the environment and the economy. Our strategy includes developing new ideas of what the good life is, finding operational models that build a new kind of society, and boosting sustainable business operations.
We identify the need for social change and enable that change. We predict, analyse and assess the forces of social change and their impacts on Finland. As an independent operator, we have the opportunity to react quickly to major issues concerning Finnish society and accelerate changes that promote well-being. We carry out practical experiments, compile cross-boundary networks and develop and finance business operations.
Since 2004, fixed-term programmes have formed the core of our operations. During 2012, we have adopted a project-based organisational model that focuses on three themes:
The themes will be implemented through tangible projects of two or three years in duration. The new strategy and operational model will produce even more added value for society.
The theme of empowering society aims at creating a more efficient and human-oriented public administration. It will do this by developing leadership skills and by building stronger cooperation and decision-making across all the various administrative branches. Another objective is to encourage citizens to take care of each other. In addition, the thematic area promotes new operating models for well-being and the related business.
The theme of resource-wise and carbon-neutral society creates the conditions for a resource-wise and carbon-neutral society and the related business promoting it. Embracing sustainable lifestyles and the smart use of natural resources will promote the transfer to a sustainable bioeconomy and low-carbon society. Green economy, including sustainable consumption and a new view of natural resources, will become mainstream ideology and create jobs and well-being.
Practices for sustainable well-being and employment: The theme will promote sustainable well-being and employment through new practices and financing models. The theme will be launched in the beginning of 2014.
Sitra's capital was started by an endowment of 100 million marks (EUR 17 million) made by the Bank of Finland in 1967. The endowment capital was increased to 500 million marks (EUR 84 million) in 1972–1992. With an increase in the market value, the nominal value of the capital was increased to 1,400 million marks (EUR 235 million) in 1993–2001.
Our operations are funded from the returns of endowment capital and capital investments. This means that we receive no funding from taxes or the state budget. Our endowment capital can only be used for operational purposes under exceptional conditions.
We invest our endowment capital in a profitable and safe manner and steer our investment operations according to the principles of social responsibility. At the end of 2010, the market value of our endowment capital was EUR 697 million. The funds were allocated as follows: equity funds 49%, bond funds 45% and other investments 6%.