Baltic Sea Credit Card

A small Finnish bank, Ålandsbanken, based on the autonomous Åland Islands but with offices in Finland and Sweden, is launching a new credit card to combat climate change.

Made of renewable raw materials

This new Baltic Sea Credit Card is made completely of renewable raw materials, is non-toxic and is biodegradable but that is not all: Card users will get an environmental report in their mobile app or internet bank account, effectively tracking the carbon footprint of their consumption. The bank hopes that increased transparency will contribute to changing daily habits to become more sustainable in the long run.

The environmental calculations of the card are based on the Åland Index developed by the Ålandsbanken. The index works on the basis of a category code provided by retailers to Mastercard enabling a value for the carbon footprint to be calculated on each transaction.

Peter Wiklöf, CEO of Ålandsbanken says: “The sea is never far away when you are based in the Åland islands, and we can’t avoid seeing the effects of pollution. In 2015 we launched the Baltic Sea Project, founded on our commitment to enable smart ideas for the environment. But we also wanted to give our customers the opportunity to contribute to the environment through their daily choices. Only if we all get involved will we be able to save the Baltic Sea”

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Catella is a leading specialist in property investments, fund management and banking, with operations in 12 countries across Europe. Catella recently published a Nordic Market Tracker.

Investment Opportunities

The Northern European property market is increasingly featuring in the pan-European real estate portfolios of institutional investors. Compared with other European countries, the economic transparency and prosperity of the markets in the Nordic countries makes them a popular option. Also, the availability of capital opens up new investment opportunities. Catella foresees these opportunities, especially for investments in the office and retail markets.

In general, some 90% of invested capital in the Nordic countries is based on domestic markets (Sweden, Denmark, Norway and Finland), with a high share of Swedish capital – but this will change. Demand from German, French and UK investors rose in the past three quarters, not least through pressure from capital markets to look for a stable income stream.

“Many markets offer clear potential for portfolio diversification. Copenhagen and Helsinki display a correlation that is slightly negative, as does Berlin. Stockholm’s correlation is below the level identified, for example, for the German cities of Cologne and Dusseldorf, and also from the perspective of Lisbon, Warsaw and London investors. Against this backdrop, combining a Nordic segment with a German, Spanish or Belgium office property segment could be a successful strategy for anyone interested in risk diversification,” explained Dr. Thomas Beyerle, Head of Group Research at Catella, talking about the investment strategy from an international perspective.

Catellas report concludes

Catellas report concludes: “The Nordic countries are not as homogeneous as international stereotypes often suggest. There are marked differences to be aware of when investing. Not only do investors need to know how Sweden, Norway, Denmark and Finland differ when it comes to their social, economic and political arenas, but there’s something else international observers should keep an eye on, as well: intra-Nordic investment patterns. This report thus concludes that the northern European countries represent enormous potential when it comes to diversifying multinational portfolios. Furthermore, they also demonstrate structural stability for long-term investors with multi-country and multi-asset funds/strategy.”

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The London-based think tank, the Legatum Institute, has again released its annual global Prosperity Index. This year’s index ranks Norway as the most prosperous country among 142 countries.

The index compares 89 variables including traditional indicators like per capita gross domestic product and the number of people in full-time work in addition to factors such as number of secure internet servers in the country and how well rested people feel on a day-to-day basis. The variables are then split into eight sub-indexes: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom, and social capital.

Norway has topped the Prosperity Index for the last past seven years. Norway is the only country ranked in the top 10 of every sub-index.

The other Nordic countries all received high rankings:

Denmark 3rd, after Switzerland (2nd), and second best when it comes to entrepreneurship and opportunity.

Sweden 5th, after New Zeeland (4th), ranks the best for entrepreneurship and opportunity and also fares well in safety and security. The country gained one place in this year’s index.

Finland 9th , ranked the third best in safety and security and fifth best in governance, however, the relatively poor economy has pushed the country down a rank from last year.

Iceland 12th , dropped a rank compared to last year, but ranks in the top five in three sub-indexes; personal freedom, entrepreneurship and opportunity and safety and security.

Would you be interested in expanding your business into this prosperous market?

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