30.6.2021

Pride Reminds Us of the Need to Promote Equality for Rainbow Minorities

The Finnish Bar Association is visibly supporting Pride this year and is driving change in the culture of the field. While Pride week is an important opportunity to talk about diversity and equality, it is more important to promote the position of sexual and gender minorities throughout the year.

Laws Change, Working Life Lags Behind

Equality is a statutory right in Finland, but the customs and culture of working life are slower to change. The European Union Agency for Fundamental Rights conducted an LGBTI survey two years ago. According to the survey, as many as 92% of Finnish LGBTI people are in the closet at the workplace to some extent with respect to their sexual or gender identity.

Lawyers Aren’t an Exception as a Work Community

Based on the survey, Finland is not a model student when it comes to equality. Though we have no research data on our industry, we think it is safe to say that the legal community is no model student either. It is worrying to hear that a large number of young LGBTI people return to the closet after their studies when moving into working life in our field. It is sad that this is the case in 2021.

Though there is no industry-wide research data, we have examined the situation in our own firm. In our work satisfaction survey conducted in 2020, 96% of our personnel said that they could be themselves at the workplace. This is not a bad place to start. However, the picture looked different when we asked how people felt the workplace supported them in bringing out a minority identity.

In an equality survey that we carried out in 2021, 76% of respondents somewhat or fully agreed that our work community is supportive of employees expressing their membership in various minorities if they wish. Correspondingly, a quarter of respondents felt that this is not the case. One quarter is a significant number of people in a 260-person community that values sustainability, a good working atmosphere and the wellbeing of personnel. The comments indicated that, though people felt there was no obstacle to expressing a minority identity at the workplace, the general heteronormativity of the field in general does not encourage such expression.

What are we doing about it? We have launched a diversity project in which we discuss and educate ourselves as a community, because we want to better understand minorities and work to mitigate heteronormativity in our workplace. We consult outside experts in this work.

We are happy to work with the Bar Association and other law firms to improve the situation. Role models and encouragement to be oneself are also needed.  When we ask our personnel the same questions in our equality survey next year, we hope the answer will show that we have succeeded in making things better.

Improving our Culture is an Investment in Wellbeing and Business

It is up to each individual to decide how much they want to open up about their private lives at the workplace. However, in a tolerant and open workplace, employees should be able to share their personal news without hiding the name of their partner, for example, and also be able to look like themselves.

Many LGBTI athletes and artists have talked about how their performance improved significantly after coming out. A person can unlock their full potential when they no longer have to use energy to hide their identity. Genuine equality is important on a human level and can even indirectly benefit business. In our demanding field, we need the best talents and courageous individuals.

Latest references

We advised the shareholders in Puhdistamo – Real Foods Oy in the sale of all shares in Puhdistamo to PK Consumer Health. Puhdistamo is a leading Nordic wellbeing company, best known for its high-quality supplements, sports nutrition products and, functional beverages. Puhdistamo employs 120 employees in Finland and Sweden. PK Consumer Health is owned by Avista Healthcare Partners and Damier Group. The sellers will make a reinvestment into PK Consumer Health as part of the transaction. Completion is subject to customary closing conditions.
Case published 15.1.2026
We advised the real estate investor and developer Urban Partners in the financing of a EUR 100 million construction project in Helsinki, which combines build-to-rent housing and care homes within one scheme.  A fund managed by Urban Partners (NSF V) purchased the plot of land in Herttoniemi, Helsinki and subsequently secured planning consent to deliver a hybrid living scheme. The modern complex will offer high-quality housing and care facilities for the elderly alongside rental accommodation. A total of 425 apartments and 108 care homes will be delivered across four buildings on the site.  The project will be implemented in accordance with Urban Partners’ sustainability targets. All buildings will be constructed to energy class A, and the project will aim for the highest Platinum level of the international LEED environmental certification and will be implemented in accordance with the EU taxonomy criteria.
Case published 5.1.2026
We assisted Citycon Oyj in the sale of the Lippulaiva residential assets in Espoo, Finland. The sold residential assets consist of 275 apartments totaling approximately 13,000 sqm, located in connection to Citycon’s Lippulaiva shopping centre. The assets were sold at their latest IFRS book value for a gross purchase price of EUR 61.5 million.
Case published 19.12.2025
We advised S-Bank Plc in its issuance of a EUR 150 million Senior Non-Preferred Notes and on the tender offer of its EUR 150 million Senior Preferred MREL Eligible Notes maturing in 2026. The tender offer required prior approval from the Finnish Financial Stability Authority based on the Commission’s regulatory technical standards (EU) 2023/827. The Stability Authority granted S-Bank a permission for repurchases of the notes. Based on the permission, S-Bank replaced the notes with own funds or eligible liabilities instruments of equal or higher quality at terms that are sustainable for the income capacity of S-Bank. According to the final tender offer results published on 10 December 2025, S-Bank repurchased a total of EUR 97.9 million of the notes. The new notes will pay a floating interest rate, which is determined based on 3-month Euribor added with a margin of 1.35 per cent. The notes were issued on 11 December 2025 and listed on Nasdaq Helsinki Ltd. The maturity date of the notes is 11 December 2029. The purpose of the issue was to meet the minimum requirement for own funds and eligible liabilities (MREL) and to finance the bank’s activities.
Case published 18.12.2025