Finland 2023 Energy Policy Review
Finland has set one of the most ambitious climate targets in the world, a legal obligation
to reach carbon neutrality by 2035. It has made notable progress towards this target,
deploying the first new nuclear reactor in Europe in over 15 years and strongly expanding
wind generation. Thanks to the progress Finland has made on its clean energy transition,
the country has the second lowest share of fossil fuels in its energy supply among
IEA members. It is also reducing its reliance on Russian energy imports and ensuring
energy security by increasing imports from other countries, raising domestic renewable
energy production and improving energy efficiency.
Despite these notable successes in clean energy and energy security, significant challenges
remain. Imported fossil fuels still account for over a third of the energy supply
while some areas of the Finnish economy, such as transport and key industrial activities,
remain dependant on fossil fuels. Also, land use change and forestry in Finland, which
have historically offset a significant amount of greenhouse gas emissions, became
a net source of emissions for the first time in 2021.
In this report, the IEA provides a range of energy policy recommendations to help
Finland smoothly manage the transition to a secure, efficient and flexible carbon
neutral energy system.
Published on May 05, 2023
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