Improving the efficiency of materials use is one of the main objectives of today`s environmental policy. The concept of eco-efficiency is used to encourage such improvements, with the idea of producing more raw materials and wealth with the same amounts of resources. Eco-efficiency initiatives include a comprehensive national programme to promote sustainable consumption and production, launched in 2005. This program includes more than 70 measures to save energy and natural resources. These goals can only be achieved through the active participation of all sectors of society. Like other peer group countries, Finland has an established and transparent public consultation procedure open to all interested parties, including businesses.89 Ministries have a legal obligation to provide information on and access to legislative reforms.90 In practice, draft laws are sent to key stakeholders for comments.91 The call for comments will also be published on a platform online so that all interested parties have the opportunity to submit the proposal for at least six weeks.92 Most documents are published in Finnish and Swedish. The availability of English translations of bills and other documents would further facilitate the participation of foreign investors. Finland has a favourable regulatory environment for companies that are engaged in digital transformation and attract foreign direct investment in digital services, which are becoming increasingly important for all sectors of the economy. Eutrophication is an example of progressive environmental change that can suddenly attract public attention when a certain threshold is exceeded. In Finland, eutrophication was widely debated in the summer of 1997, when massive algal blooms appeared in the Gulf of Finland. Blue-green algae occur naturally in Finnish waters, but these massive blooms are the highly visible result of decades of excessive nutrient loads. Thanks to various international environmental agreements and the development of clean fuels and emission control technologies, acidification emissions in Europe have fallen sharply.
And the collapse of the Soviet Union reduced acidifying air emissions from Finland`s eastern border. Finland`s sulphur and nitrogen emissions to air are now only 25% and 60% of 1990 levels, respectively. Travellers carrying more than €10,000 must make a declaration when entering or leaving the EU. As a member of the Financial Action Task Force (FATF), Finland complies with most of the FATF`s 49 standards. The FATF commended Finland for improving its anti-money laundering legal framework: www.fatf-gafi.org/media/fatf/documents/reports/mer/Finland_FUR_2013.pdf. Although foreign investors are attracted by the quality of institutions, economic, legal and political stability, regulatory transparency and an open overall framework for investment and trade, there are still a number of factors that could discourage foreign investment or impede competition in the market. This section provides an in-depth assessment of the general regulatory aspects that could influence how foreign investors enter and operate in an economic sector of the Finnish market. Although this assessment is not exhaustive, it includes several elements that could have an impact on the overall business environment in Finland and other countries in the Nordic-Baltic region. It is much more difficult and costly to repair environmental damage than to prevent damage in the first place. In the worst case, the damage can even be irreparable.
Arctic climatic conditions can hinder the natural regeneration of deforested forests in northern Lapland. On the other hand, predicted global warming could completely wipe out entire species and ecosystems adapted to cold conditions. The vegetation of Finnish Lapland is particularly sensitive to disturbances such as deforestation and overgrazing by domestic reindeer. Fortunately, these threats have been reduced by protecting large areas of forest and limiting reindeer numbers. The increase in tourism in Lapland can also pollute the environment, but it can also promote environmental protection, as most tourists are attracted to Lapland by the untouched nature of the area. The fruits of a successful environmental policy are clearly visible throughout the country. Many polluted lakes and rivers have been cleaned up. Air quality around industrial sites has greatly improved. An extensive network of protected areas has been established to protect biodiversity.
Forests – Finland`s most valuable natural resource – are managed more sensitively than in the past, and the annual growth rate far exceeds the total timber harvest. Furthermore, there is no legal obligation in Finland to notify regulations to the public within a reasonable time before their entry into force. According to the Finnish Constitution, legal acts are published without delay. A legal act that has not been published by the envisaged date of its entry into force does not enter into force until it has been published.95 This lack of regulatory transparency is mitigated to some extent by the practice of including the envisaged date of entry into force in legislative proposals. In addition, laws that have been adopted or have been adopted but have not yet been officially published are made available to the public on the website of the Finnish Parliament. However, regulating a short transitional period between the announcement of the new legislation and the date of its entry into force, called vacatio legis, would ensure that companies have time to adapt to the new binding commitments. This transition period can be particularly important for foreign companies, as English translations of legal acts are often not immediately available or not available at all. The absence of vacatio legis is widespread in the Nordic and Baltic countries: only Norwegian legislation guarantees a reasonable period of time between publication and entry into force of laws and regulations.96 Few chemicals have been studied in sufficient detail to allow for comprehensive environmental impact assessments. The EU`s REACH (Registration, Evaluation and Authorisation of Chemicals) system aims to improve the risk management of chemicals.
A key element of this system will be a database managed by the new European Chemicals Agency based in Helsinki. The database will contain a list of all substances manufactured or imported by EU countries in quantities greater than one tonne. It is estimated that the system will cover about 30,000 chemicals. Finland has a relatively liberal regulatory environment for digital services. Foreign companies have access to online tax services in Finland, unlike many other peer group countries that meet requirements that effectively reserve access to online tax services to companies with a local presence in the host country. In Finland, foreign citizens who are representatives of a Finnish company and representatives of companies registered abroad can use online tax services on behalf of the company.200 Online registration and tax reporting services reduce compliance costs for non-resident suppliers. Mortgages exist in Finland and can be applied to both owned and rented properties. Finland ranks 27th out of 190 countries for ease of home registration, according to the World Bank`s Doing Business 2018 report. In Finland, basic education, transfer, land consolidation, cadastre, registration of real estate, property and legal rights, property valuation and taxation are combined in a basic cadastral system (land register) administered by the National Land Survey: www.maanmittauslaitos.fi/en/real-property. Digital trade also benefits from an effective legal framework for the protection of confidential information and intellectual property rights. The Finnish Trade Secrets Act implements the EU Trade Secrets Directive, which harmonises the definition of trade secrets and obliges Member States to provide remedies against their unlawful acquisition, use and disclosure.201 The Copyright Act and the Trade Marks Act provide for enforcement measures and remedies in cases of infringement of intellectual property rights, including interim measures and criminal law enforcement measures.202 Foreign companies enjoy non-discriminatory treatment in Finland with regard to trademark and copyright protection under Finland`s international obligations.203 The Finnish legal system protects intellectual property rights and Finland accedes to many related international conventions.
Finland is a member of the World Intellectual Property Organization (WIPO). Finland`s National IPR Strategy 2014-2020 (in Finnish) at luovasuomi.fi/www.luovasuomi.fi/article/1840.html. Air pollution and other environmental problems associated with cities around the world are comparatively low in Finnish urban centres. The most serious health problems relate to particulate matter emissions and noise. More than 800,000 Finns live in an environment where they are exposed to noise levels of more than 55 decibels. Road traffic is the main source of this noise pollution, which can be difficult to reduce because residential areas are necessarily close to road links. The Finnish legal system protects property rights and secured rights to movable and immovable property are recognized and enforced.