Growth company Greenstep announced in October that 10% of the profits will be invested in renewable energy over the next five years. Greenstep has now invested its first three million euros in the Bank of Åland's Wind Power Special Investment Fund. The sum of EUR 3 million is significant, as it represents about half of the estimated total investment that Greenstep will make in renewable energy over the next five years. The Bank of Åland was chosen as a partner, as they have extensive experience in sustainable investments and projects.
"Sustainability is central to everything we do," emphasizes Greenstep's Chairman of the Board Tore Teir. “Our goal is to help other companies grow sustainably and therefore this year we have developed our sustainability services and created a team in the area. Equally important to us is our own sustainability work. This investment decision is part of the sustainability program to which we are committed. After careful consideration, we chose to invest in renewable energy, specifically wind power. For this purpose, the Bank of Åland had an excellent solution. We hope that our investment will also inspire other companies to make similar sustainable investments.”
The goal of the Bank of Åland's Wind Power Special Investment Fund is to make sustainable investments in wind power and thereby increase the share of renewable energy in the energy market. The fund's assets are invested in wind farms in Finland and the rest of the Nordic region. The fund's investment process is built on the Bank of Åland's framework for responsible investments.
By investing in the fund, Greenstep and other parties can contribute to a climate-neutral Northern Europe. According to the Bank of Åland, an investment of EUR 100,000 in the Bank of Åland's Wind Power Special Investment Fund can contribute to the yearly production of approximately 200 MWh of emission-free electricity, which corresponds to the annual electricity consumption of roughly 50-100 office employees. Through Greenstep's investment of EUR 3 million, it is thus possible to produce approximately 9,000 MWh worth of environmentally friendly wind power energy per year, which corresponds to the annual electricity consumption of roughly 1,500 office employees.
“We are very pleased that Greenstep chose the Special Investment Fund Ålandsbanken Vindkraft and through this investment promotes the transition to a climate-neutral society. We want to congratulate Greenstep for its responsible work! ” comments Maria Östergård Käld, Asset Manager at the Bank of Åland.
Greenstep is a family business that helps thousands of companies in the Nordics grow through clarity. Green signifies the growth that we achieve by taking the necessary steps together. Greensteps team of 500 experts in Finland, Sweden, and Estonia:
- Takes care of and automates Greensteps clients’ accounting and payroll
- Jumps into their daily operations as interim or part-time CFOs and HR Managers
- Finds new financing or owners when necessary
- Implements business analytics and backbone ERP software to support their global ambitions.
- Helps companies build a more sustainable and educated future.
Greensteps clients range from startups to listed companies, from non-profits to for-profits, local funds, and international growth companies. "We can relate to them all: we’ve been there ourselves and know what problems they’re facing. Together, we can identify and take the next greenstep."
Additional information:
Tore Teir, Chairman of the Board, Greenstep
+358 40 760 490
Published 15.12.2021