Castrén & Snellman continues as a sustainability forerunner in business law. Our newly published sustainability report for 2023 is our fourth. The report offers an overview of our sustainability work thus far, covering three areas: advice for clients, responsible business and impact on society.
7.5.2024
Castrén & Snellman published its sustainability report for 2023
Our sustainability report for 2023 highlights diversity work and ESG-related client assignments
We take ESG considerations into account in all the services we offer to our clients. Increasingly, we carry out ESG due diligence reviews and provide training on the developing regulatory framework of corporate sustainability.
Here are some ways in which we promoted sustainability in 2023:
- We focused on diversity work and have had success. Fewer employees disagree with the statement that our work community supports employees expressing their membership in minorities. In our first equality survey in 2021, 13.5% of the respondents disagreed with the statement while in 2023 only 4.4% disagreed.
- We organised our sustainability work more efficiently. We established an ESG steering group consisting of partners to focus on corporate sustainability. Our Head of Sustainability, Partner Anna Kuusniemi-Laine joined the Management Group. ESG Counsel Lia Heasman was recruited to strengthen our client work. These decisions made in 2023 will be reflected in our work this year.
- We met our first climate targets as our direct emissions and the emissions from the energy we use decreased over 99% compared to 2019. The decrease is largely due to a switch to renewable district heating in our premises in the autumn of 2022. There is still room for improvement in reducing our indirect emissions in the value chain.
Read our sustainability report.
Our sustainability work in 2024 is spurred on by the regulatory framework of corporate sustainability as we help our clients meet the requirements of new ESG laws, such as the Corporate Sustainability Due Diligence Directive. We are also preparing for the Corporate Sustainability Reporting Directive ourselves, since it will apply to us as of 2025.
You can read the reports for the years 2020–2022 here.
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Ministry of the Environment – Report on the promotion of circular economy aspects in public procurement
Castrén & Snellman was commissioned by the Ministry of the Environment to carry out a study on how the Circular Economy Act could be used to promote circular economy aspects in public procurement. Our report provides valuable information to the working group tasked with preparing the new Circular Economy Act. The report includes an overview of relevant strategies, action programmes and policies, a look at relevant legislation and case law, an assessment of the current state of circular economy procurement and examples of integrating circular economy aspects into public procurement from around the world. We end the report with concrete conclusions and a proposal for a new circular economy provision with justification. The proposal aims to maximise the regulation’s effectiveness and minimise any adverse side effects. The final report is available on the Circular Economy Act project’s Gateway to Information (in Finnish). The study was carried out by Anna Kuusniemi-Laine, Sanna Aalto-Setälä, Lotta Huhtamäki, Marja Ollila, Laura Vuorinen, Paavo Heinonen and Anna Ylitalo.
Case published 11.11.2025
CapMan Real Estate – Acquisition of a High-Quality Residential Asset
We advised CapMan Real Estate in the acquisition and financing of a high-quality residential asset located in Katajanokka, Helsinki. The asset was acquired from the Finnish Seamen’s Service Bureau (MEPA). The property consisting of 38 modern rental apartments with a parking garage was completed in 2017. The building features high-quality construction, modern floorplans, and well-designed communal areas including a gym and rooftop sauna premises, and blends with the area’s historic maritime character. The residential asset is located in the prestigious Katajanokka seaside district of central Helsinki, known for its architectural heritage and proximity to the city centre. The property has a high ESG profile which will be further improved by CapMan Real Estate.
Case published 6.11.2025
Stena Line – Acquisition of NLC Ferry (Wasaline)
We are acting as legal adviser to Stena Line on its acquisition of NLC Ferry Ab Oy (Wasaline), strengthening Stena Line’s position in the Baltic Sea and enabling it to take over operations of the ferry route between Umeå in Sweden and Vaasa in Finland. The acquisition further strengthens Stena Line’s position as one of the leaders in sustainability within the ferry industry and enhances the company’s access to alternative fuels whilst providing a strong intermodal transport link towards Gothenburg and Trelleborg, and onwards to the European continent. NLC Ferry, operating under the auxiliary name Wasaline, were owned by Kvarken Link, a company jointly owned 50/50 by the cities of Umeå and Vaasa. Wasaline is the world’s northernmost shipping company, operating daily passenger and freight services between Vaasa, Finland and Umeå, Sweden, and is the first carbon-neutral ferry operator in the Baltic Sea with its hybrid vessel, Aurora Botnia, which runs on biogas and batteries. Stena Line is one of Europe’s leading ferry operators, with 20 routes across the continent. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg, with 6,550 employees and an annual turnover of 19.6 billion SEK. The transaction is conditional to the approval of the respective municipal councils of Umeå and Vaasa as well as customary closing conditions such as authority approvals. The completion of the transaction is expected to take place in the beginning of the year 2026. Castrén & Snellman is collaborating with CMS Wistrand, Stena Line’s advisor on Swedish law matters in connection with the transaction.
Case published 4.11.2025
Prisma Properties – Acquisition of a retail property
We advised Prisma Properties in a real estate transaction in which the company acquired a retail property in Helsinki from Hartela. The acquired property was built specifically for the discount retailer Jula. Completed in October 2025, the property is modern and very energy-efficient, and it is fully leased to Jula under a 10-year lease agreement. The property located in the Konala district, adjacent to the busy Ristikko shopping centre, spans 2,600 square metres. Prisma Properties is a fast-growing developer and long-term owner of modern properties for discount retail, grocery retail, and quick-service restaurants. The company operates across the Nordics and manages a property portfolio valued at approximately EUR 650 million, primarily consisting of newly developed properties with long lease agreements.
Case published 29.10.2025