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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Latest references
Nala Renewables – Development, acquisition and financing of battery energy storage system (BESS) project
We advised Nala Renewables on the Finnish law aspects of the development, acquisition and financing of its battery energy storage system (BESS) project in Vuolijoki, Finland. The project comprises a 125 MW / 250 MWh battery energy storage system. Our advice extended beyond financing to the transaction’s legal due diligence and the acquisition of the project company. We also advised on key project contracts and financing documentation for the project finance facilities provided by Coöperatieve Rabobank U.A. The project is part of Nala Renewables’ growing portfolio of battery storage assets in Finland and the wider Nordic region, supporting the integration of renewable energy and contributing to the flexibility and stability of the Finnish electricity grid.
Case published 3.11.2026
Foundation Clinic – Funding Round
We advised Foundation Clinic in connection with its funding round backed by a group of prominent Finnish technology entrepreneurs and investors, including founders behind Supercell and Wolt. Foundation Clinic is a Finnish healthcare company developing a new approach to private healthcare focused on preventive, data-driven and continuous care. The company aims to combine comprehensive health data with ongoing medical care to identify and address health risks at an early stage.
Case published 29.10.2026
Delta Capacity – Project financing of two battery energy storage systems (BESS)
We advised Delta Capacity AG in a project financing of two battery energy storage systems (BESS). The financed projects are among the largest BESS developments in Finland to enter construction with 250 MW / 600 MWh combined capacity. The financing was provided by Société Générale with support from Finnvera. Construction of both projects, located in Lapinlahti and Teuva, has already begun and the commercial operations are targeted to commence in late 2027 with partial tolling agreements already in place for both assets. The project in Lapinlahti is executed in partnership with Covenergo, while the project in Teuva is executed in partnership with Strioga Family Foundation. Delta Capacity is a Swiss developer of utility-scale battery storage systems. The projects strengthen Delta Capacity’s growing Nordic portfolio and support the flexibility of Finland’s electricity system by adding energy storage capacity, enabling production optimization as well as participation in electricity markets and reserve services.
Case published 28.10.2026
Martela Corporation – Directed share issue and combination of share series
We acted as legal adviser to Martela Corporation in its directed share issue, through which Martela raised gross proceeds of approximately EUR 7.2 million to strengthen the company’s financial position and liquidity and to create headroom for continuing the necessary development and efficiency measures. In connection with the directed share issue, Martela’s unlisted series K shares, which carried greater voting rights, were combined with its listed series A shares. Following the combination, the company has only one share series, which is traded on the regulated market maintained by Nasdaq Helsinki Ltd, with each share carrying one vote and otherwise identical rights. Martela is a Nordic leader specialising in user-centric working and learning environments. With over 80 years of experience, Martela creates the best places to work and offers its customers the Martela Lifecycle solutions which combine furniture and related services into a seamless whole.
Case published 27.10.2026