National Advisory Board for Impact Investing

The task of the National Advisory Board for Impact Investing is to drive the impact investing market in Finland. The impact investing ecosystem is extensively represented in the Advisory Board membership.

In autumn 2015, Finnish Innovation Fund Sitra convened the first National Advisory Board for Impact Investing, inviting Pentti Pikkarainen, Director-General, to serve as its chair. Henri Grundstén, Development Director at Finnish Industry Investment Ltd, was invited to chair the second Advisory Board whose term began in spring 2018. The second advisory board set the establishment of a national centre of expertise for impact investing by 2020 as one of its objectives.

Appointed by the Ministry of Economic Affairs and Employment, the advisory board whose term began in spring 2018 continues in its original composition, with the exception of a few changes in membership, until the end of 2020.

Global Steering Group for Impact Investment

In summer 2017, Finland was accepted, as the sixth European country, as member of the Global Steering Group for Impact Investment (GSG), which currently comprises just over 30 countries and the European Union. Chaired by Sir Ronald Cohen, the GSG is working to build an ecosystem in which the impact investing ideology, its practical implementation, and impact-driven operations can thrive.

Finland participates in the GSG’s work through the National Advisory Board for Impact Investing, whose activities are coordinated by the Centre of Expertise for Impact Investing.

The GSG was created in 2013 when David Cameron, Prime Minister of the United Kingdom at the time, set up a taskforce to investigate the opportunities of impact investing in the G7 countries. The taskforce was led by Sir Ronald Cohen.

National Advisory Board for Impact Investing 9.3.-31.12.2020:

  • Henri Grundstèn, Development Director, Tesi Finnish Industry Investment Ltd; Chairman
  • Riitta Aejmelaeus, Senior Ministerial Adviser, Ministry of Finance
  • Jenni Airaksinen, University Lecturer, Tampere University
  • Teri Heilala, CEO, FIM Asset Management
  • Olli-Pekka Heinonen, Director General, Finnish National Agency for Education
  • Terhi Kilpi, Assistant Director General, National Institute for Health and Welfare
  • Kimmo Lipponen, CEO, ARVO ry
  • Mika Pyykkö, Director, Centre of Expertise for Impact Investing; Secretary
  • Pekka Samuelsson, Investment Director, Taaleri
  • Vesa Silfver, Managing Director, Motiva Ltd
  • Jussi Toppila, Director, Ministry of Economic Affairs and Employment
  • Sami Tuhkanen, Vice President, Investments, Sitra
  • Jari Vaine, Senior Adviser, Association of Finnish Local and Regional Authorities
  • Jukka Vähäpesola, Head of Equities, Elo Mutual Pension Insurance Company

More information:

Mika Pyykkö, Director, tel. +358 29 504 7135, mika.pyykko(at)tem.fi