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Stock Exchange Release
May 12, 2023 at 14.00
Employment Fund has prepared a social financing framework that enables the Fund's debt financing to be closely tied with social positive effects. Employment Fund has been following the principles of sustainable investing in its own investment activities for a long time, and the social financing framework is an essential step in expanding sustainable financing into a part of the Employment Fund's own funding base as well.
"As part of the Finnish social security system, we are happy to be involved in developing the possibilities of sustainable financing. The framework we have drawn up will offer us more tools for acquiring debt financing in the future”, says Tapio Oksanen, Employment Fund's Chief Financial Officer.
The framework has been drawn up in accordance with the Social Bond Principles updated in 2021 by the International Capital Markets Association (ICMA) and the Social Bond Principles updated in 2023 by the European Loan Market Association (LMA). The framework enables the acquisition of targeted debt financing that drives social benefits in the form of various financial instruments.
ISS ESG acted as an external evaluator of the framework, and according to their independent assessment, the Employment Fund's framework is aligned with the requirements outlined in the Social Bond Principles and has positive social impacts. Nordea acted as an advisor to the Employment Fund in preparing the framework.
Employment Fund currently has no loans to which the social finance framework has been applied.
The framework and the external assessment have been published on the Employment Fund's investor pages https://www.employmentfund.fi/investors/the-employment-fund-as-an-issuer/
Helsinki, 12 May 2023
Chief Financial Officer
+358 40 522 3614
Chief Financial Officer
+358 40 539 4651
NASDAQ OMX Helsinki
The Employment Fund brings comfort in the changes of the working life. We collect the unemployment insurance contributions that are among other things financing the earnings-related unemployment benefits and urging forward the innovation of learning with the adult education allowance.
Employment Fund’s financial reporting in 2024
The level of unemployment insurance contributions decreases significantly