Finland's new govt. freezes funding of corporate responsibility watchdog Finnwatch
Author: Finnwatch, Published on: 17 August 2015
"Finland's new government freezes the funding of a corporate responsibility watchdog", 17 Aug 2015
The Finnish Ministry of Finance published...a budget proposal for 2016, confirming a freeze to the fund that has been a source of income to the internationally known corporate watchdog, Finnwatch. The freeze to the fund targeted at development communications and global education was proposed by the Ministry for Foreign Affairs. In total, Finland is cutting the funding of development organisations by 43 per cent (49 million euros). At the same time the Finnish government has announced that 100 million euros of development cooperation expenditure will be used to capitalize the Finnish Fund for Industrial Cooperation Finnfund. Finnfund invests in company projects in developing countries that are in the interest of Finnish companies...The new Finnish government want to promote export and investment in developing countries by Finnish companies and seem to have pushed corporate responsibility aside. The government have chosen to further these goals at the expense of civil society organisations, human rights watchdogs and those that campaign against tax havens, said Sonja Vartiala, Finnwatch's executive director.