Impact Investing

Impact Investing

Impact investing is a growing global phenomenon. Interest in new forms of financing is also growing in Finland, where the public sector is struggling with cost pressures.

We are here to help our clients succeed in this new field, which is just taking shape. Our finance, public sector project and corporate form experts design legally insightful operating models that are tailored to the Finnish regulatory environment and harmonised with state aid and public procurement rules.

We speak the same language as the diverse operators in this field which enables us to bring them together. We also actively promote the development of the operating environment through domestic and international organisations, such as the European Social Enterprice Law Association (ESELA).

Latest references

We advised FIM in the establishment of the SIB fund focused on promoting child and youth welfare, including drafting documentation and addressing taxation questions. Social impact bonds (SIBs) are a good example of a new form of investment, which seeks to achieve social goals in addition to financial profit. The SIB fund established in this project is managed by FIM together with the Finnish Central Union for Child Welfare, the participating Finnish municipalities and the Finnish Innovation Fund Sitra. The activities of the fund are guided by representatives of the municipalities, the Central Union for Child Welfare and partner organisations providing child and youth services. The assets of the fund are used to finance projects promoting child and youth welfare. The fund’s profit is tied to the achievement of joint welfare goals, and the cost savings achieved are distributed between the municipalities and the fund’s investors. The fund is intended for professional investors.
Case published 12.2.2019
We advised Neste as it signed a EUR 250 million 10-year loan with NIB. The loan will finance Neste’s investments related to research and development (R&D) in processing lower-quality feedstocks into high-quality renewable products; as well as the liquefied waste plastics (LWP) investment at Neste’s refinery in Porvoo, Finland. The R&D activities supported by the loan focus on the development of renewable solutions. These include, for example, expanding feedstock capabilities and technologies that enable the processing of new and lower-quality waste and residues into high-quality renewable end products. Part of the financing supports Neste’s liquefied waste plastics investment in Porvoo, related to upgrading low-quality plastic waste into high-quality feedstock at an industrial scale. The investment contributes to advancing circular economy solutions by enabling the use of hard-to-recycle plastic waste as a replacement for virgin fossil raw materials. The unit has an annual capacity to process up to 150,000 tonnes of liquefied waste plastic. Production ramp-up commenced in 2026.
Case published 19.8.2026
We advised Aspo Plc, ESL Shipping Ltd and AtoBatC Shipping AB in relation to finance matters in connection with the demerger of Aspo, by which all the shares in ESL Shipping Ltd held by Aspo, together with the related assets and liabilities, will be transferred to a new independent company to be named ESL Shipping Group Plc. Aspo intends to apply for the shares of ESL Shipping Group to be admitted to trading on the regulated market of Nasdaq Helsinki. It is further intended that Aspo be renamed Telko Group Plc. 
Case published 19.8.2026
We acted as Finnish law legal adviser to the lenders and the export credit agencies in connection with the EUR 514.4 million green project financing for the development and construction of Easpring Finland New Materials Oy’s cathode active material (CAM) manufacturing plant in Kotka, Finland. The borrower, Easpring Finland New Materials Oy, is a joint venture owned by Beijing Easpring Material Technology, Finnish Minerals Group and LG Energy Solution. The financing was provided by six international commercial banks, with Société Générale acting as financial adviser and mandated lead arranger together with Natixis as co-mandated lead arranger, and DNB, ICBC, ING and Standard Chartered participating as lenders, with support from the export credit agencies Finnvera and Sinosure. The project represents a significant milestone for Finland and the European battery value chain by strengthening Europe’s domestic supply of cathode active materials, a key component in lithium-ion batteries for electric vehicles and energy storage applications. Once the first phase of the project is operational, the Kotka facility is expected to produce approximately 60,000 tonnes of cathode active material annually, making it one of the largest CAM production plants in Europe and supplying leading battery manufacturers across Europe. 
Case published 21.7.2026