Welcome to Sitra!
Article 0Sitra’s address is Itämerentori 2 (Ruoholahti, Helsinki).
We build a successful Finland for tomorrow's world.
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 will adopt a project-based organisational model that focuses on two 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 empowered individual and social structures 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 increase opportunities for citizens to make themselves heard and to make choices. The thematic area develops new business models to create new business.
Sustainable lifestyles and the smart use of natural resources. Embracing these - as well as exploiting the new structures and business models that they need in order to function - 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.
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. Administration and accounts are audited by accountants appointed by the Parliament.
Sitra's Supervisory Board includes members of the Parliamentary Supervisory Council of the Bank of Finland, appointed by the Parliament. The Supervisory Board monitors Sitra's management and makes decisions on operational principles. The members of the Supervisory Board are:
The secretary to the Supervisory Board is Anton Mäkelä, Master of Laws.
Sitra's Board prepares and presents the matters to be decided by the Supervisory Board and is responsible for the general management of the fund. The Board appoints the Executive Vice President based on a proposal by the President. The rest of the Sitra personnel are appointed by the President.
The Board has six members. The Ministry of Finance, Ministry of Employment and the Economy and the Ministry of Education and Culture must be represented on the Board. The President of Sitra is a member of the Board. The composition of the Board also aims to ensure proper expertise on business life and financing. The Board's term of office is two years. The members of the Board are:
Harri Skog, Permanent Secretary
Jorma Jaalivaara, Head of Legal Affairs, acts as secretary to the Board.
The President of Sitra manages the administration of the fund and develops its operations according to the instructions and stipulations provided by the Supervisory Board and the Board. The President decides on general administrative issues. Measures and decisions of exceptional quality or quantity must be referred to the Board. Sitra's current President is Mikko Kosonen, D.Sc. (Econ) (2008–2013).
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%.
Sitra is a team of 115 Finnish and international specialists. Nearly 70% of us hold a university degree, and approximately 20 have a doctorate or a licentiate in various fields. Our educational background and experience may vary greatly, but we are joined by our specialist mindset and a passion for the development of our own field and Finnish society. We work in a target-oriented manner, carry our responsibilities, possess an open mind, appreciate the efforts of others and build a new society together with other developers.
Our subject areas and themes are selected on the basis of the essential challenges of social change; therefore, our organisation must also transform according to the situation. Due to the project and theme-oriented working method, many members of the Sitra team have a fixed-term employment relationship.
From time to time, we look for new team members. Open positions are always announced on our website (www.sitra.fi), and in other locations. Sitra's Facebook profile is another useful source of information. In recent years, we have recruited approximately 10 specialists each year, most of them hard-boiled experts in their respective fields.
For more information about working at Sitra and any open positions, please contact director Kirsi Jyly, tel. +358 294 618 405.
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