NordenBladet — President of the European Commission Ursula von der Leyen and Prime Minister Sanna Marin will meet in Helsinki on Thursday 3 February.Prime Minister Marin and President von der Leyen will discuss topical EU issues, including the security situation in Europe.During her visit, President von der Leyen will also meet with President of the Republic Sauli Niinistö.
Source: Valtioneuvosto.fi
NordenBladet – Nasdaq (Nasdaq:NDAQ) today publishes monthly trade statistics for the Nordic1 and Baltic2 markets. Below follows a summary of the statistics for January 2022:
The share trading decreased by 2.3% to a daily average of 4.184bn EUR, compared to 4.284bn EUR in January 2021. Compared to the previous month, December 2021, the daily average increased by 11.9%.
Cleared derivatives volume decreased by 33.6% to a daily average of 339,201 contracts, compared with 511,128 contracts in January 2021.
ETF trading3 (Exchange Traded Funds) increased by 54.6% to a daily average of 71.5m EUR compared to 46.3m EUR in January 2021.
Novo Nordisk was the most traded stock per day during the past month, followed by Evolution AB.
Morgan Stanley was the most active member during the past month, followed by XTX Markets SAS.
Nasdaq Nordic’s share of order-book trading in our listed stocks decreased to 72.4%, compared to 75.3% previous month4.
The average order book depth on the best price level was larger at Nasdaq Nordic than the second most liquid trading venue, see detailed figures per exchange:
For OMXC25 companies 2.3 larger
For OMXH25 companies 2.0 larger
For OMXS30 companies 2.1 larger
Nasdaq Nordic’s average time at EBBO5 (European Best Bid and Offer) was:
For OMXC25 companies 89.8%
For OMXH25 companies 93.2%
For OMXS30 companies 91.5%
1) Nasdaq Copenhagen, Helsinki, Iceland and Stockholm.
2) Nasdaq Riga, Tallinn and Vilnius.
3) ETF trading figure include Nasdaq Copenhagen, Helsinki, Iceland and Stockholm.
4) Included are the main European marketplaces that offer trading in Nasdaq Nordic listed shares. Source: REFINITIV, Equity Market Share Reporter.
5) EBBO (European Best Bid and Offer) refers to the current best price available for selling or buying a trading instrument such as a stock.
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NordenBladet — At its meeting on 7 January, the Ministerial Working Group on COVID-19 issued a recommendation that people meet with no more than five persons outside their immediate family at a time. In a written procedure on Monday 31 January, the Ministerial Working Group decided to lift this recommendation as of 1 February.Summary of earlier decisions on amendments to COVID-19 restrictions entering into force at the beginning of FebruaryIn line with decisions and guidelines issued earlier, a number of COVID-19 restrictions and recommendations will be eased starting on 1 February.Internal border control to end, restrictions on external border traffic to continue until 14 FebruaryInternal border control, which was reinstated for traffic between Finland and all Schengen countries at the end of December, will end on 31 January. Restrictions on external border traffic will remain in force until 14 February. Entry restrictions for non-Schengen EU countries will also be lifted entirely as of 1 February due to the end of internal border control.However, all passengers must present the required certificates as laid down in the Communicable Diseases Act and comply with the decisions made by the regional state administrative agencies on compulsory health examinations.Read more: Ministry of the Interior press release (27 January 2021)EU COVID-19 vaccination certificates to be valid for nine months when used for travel purposesFrom February 2022 onwards, EU COVID-19 vaccination certificates will be accepted for travel purposes for a period of nine months since the last dose of the primary vaccination series. As of yet, no acceptance period will apply to certificates issued following booster doses. Once more than 270 days have passed from the second shot of a two-dose series, the EU COVID-19 vaccination certificate will no longer be accepted for travel within the EU.Read more: Ministry of Social Affairs and Health press release (31 January 2022)Restrictions on use of COVID-19 passport extended – restaurant restrictions easedAs of 1 February, COVID-19 restrictions will be eased for ‘lower-risk’ food and beverage service businesses. These businesses may serve alcohol until 20.00 and remain open until 21.00. Low-risk establishments are restaurants whose main purpose is not to serve alcohol. The number of customer seats in these businesses will continue to be restricted to 75 per cent of the normal maximum capacity. For businesses that primarily serve alcoholic beverages, the current restrictions will continue so that alcohol may be served until 17.00 and the doors must close at 18.00. The restrictions on the number of customer seats will also remain unchanged, meaning that only half of the normal maximum number of customers can be present at a time. Businesses requiring COVID-19 passports as a condition for entry may not use this as a way to circumvent the restrictions on the number of customer seats, alcohol service hours or opening hours. However, restaurants still have the right to require customers to present a valid COVID-19 passport as a condition for entry. Read more: Ministry of Social Affairs and Health press release (28 January 2021) Restrictions on low-risk events and premises to be easedThe general hygiene requirements for operators will remain in force. Separate decisions may be made to restrict the number of participants in events or premises or to prohibit events or activities altogether. The decisions will take into account an assessment of the risk of infection and transmission associated with the event or activity. Decisions on restrictions are made by the municipality or by the Regional State Administrative Agency if the decisions apply to several municipalities.From the start of February, the Ministry of Social Affairs and Health recommends not prohibiting low-risk public events altogether and placing restrictions on these events only if absolutely necessary. Similarly, low-risk premises intended for customers or activity participants should not be closed down altogether, nor should their use be restricted unless absolutely necessary. The ministry also recommends that people attending permitted events and users of customer premises take a COVID-19 test at home in advance. Read more: Ministry of Social Affairs and Health circular, 28.1.2021 (in Finnish)Distance learning recommendation for higher education institutions to be liftedThe recommendation on distance learning at higher education institutions and the recommendation to restrict recreational activities for children and young people will be discontinued as of 1 February.
Source: Valtioneuvosto.fi
NordenBladet — Finland and Sweden have sent a letter to Mairead McGuinness, EU Commissioner for financial services, financial stability and the Capital Markets Union, in which they express their concerns about the proposed technical screening criteria for nuclear power in the draft complementary delegated act of the EU Taxonomy Regulation. The College of Commissioners is expected to publish the final delegated act this week.Finland and Sweden remind the Commission that they are strong supporters of ambitious climate action and consider sustainable finance an essential part of their joint efforts to meet the EU’s common target for climate neutrality by 2050.It is important to respect the principle of technological neutrality. Therefore, the countries welcome the Commission’s decision to include nuclear-related activities in the draft delegated act as a complement to activities involving renewable energy. However, Finland and Sweden raise three concerns related to the proposed technical screening criteria for nuclear power. The criteria should consider the concrete developments that have taken place in Finland and Sweden as regards the implementation of the final disposal solution for nuclear waste. “In general, the criteria should build on the Euratom treaty and its secondary legislation, and national regulations for nuclear safety and licensing of installations,” the letter says.The deadlines for nuclear power investments proposed in the act should be removed. The Commission has proposed that existing nuclear power plants be included in the Taxonomy only until 2040 and new nuclear power plants until 2045. The third concern is that for existing nuclear facilities, the criteria only apply to modifying the facilities for the purpose of plant lifetime extension. It should be clarified to the criteria that the operation of existing nuclear power facilities is also in line with the Taxonomy.In addition, the countries are also concerned about the adoption process of the delegated act. The time spent on consulting the Member States has been too short, considering the complexity and controversy of the issue. Finland and Sweden stress the importance of transparent and inclusive processes in the future work on the Taxonomy to ensure its credibility and usability.After the publication of the final delegated act by the Commission, the Council and the European Parliament will have four months to deliberate on it and either adopt or reject it. After the final version of the act has been published, no proposed amendments to its content are possible. The letter was signed by Minister of Economic Affairs Mika Lintilä and Sweden’s Minister for Energy and Digital Development Khashayar Farmanbar.
Source: Valtioneuvosto.fi
NordenBladet — The Ministry of Finance has published an information management map of public administration to promote the interoperability and efficient use of the public sector’s information pools and resources. The map, which was collected in cooperation with other ministries, consists of the information pools used in public administration, related disclosures, and information on the actors that are responsible for and utilise this data.The information management map offers different actors a shared knowledge base on the current state of information management, which they can use to improve the interoperability of the public sector’s information pools and resources and to assess the impacts of changes in information management. The first version of the information management map is now freely available to different actors in the exploreadministration.fi online service maintained by the State Treasury.Information management map helps to assess the impacts of development workThe information management map will make the authorities responsible for information management better equipped to assess the impacts of extensive administrative or structural changes. The map provides different actors with a general view of what the key information pools in public administration are, what information is maintained and how the information they contain is utilised, how is the disclosure of information between different information pools organised, and under what conditions could the actors access the information.The information management map is intended to serve as a tool for ministries for steering the interoperability of information pools and for planning interoperability implementation methods in their respective branches. For law drafters, the map provides information on the regulation of information pools and on the disclosure of information, as well as information on current regulatory methods across different administrative sectors.For the authorities, the map serves as a tool for identifying and utilising existing information pools as well as information managed by other authorities. It also allows the authorities to assess the impact of information management development measures on other actors. The information management map supports the principle of public access to official documents by providing an overview of the information resources utilised by the public authorities in the performance of their duties. The information management map reflects the current legislation. It is maintained by the Ministry of Finance. Each ministry is responsible for keeping the material regarding their respective branch up to date. Further development work on the information management map to promote interoperability will continue in cooperation with the ministries.
Source: Valtioneuvosto.fi
NordenBladet —
At its sitting today, the Foreign Affairs Committee of the Riigikogu (Parliament of Estonia) discussed Estonia’s sanctions policy towards Belarus with Minister of Foreign Affairs Eva-Maria Liimets and found that the sanctions policy has to be reviewed.
According to Chair of the Foreign Affairs Committee Marko Mihkelson, the confusion surrounding Belarusian transit does not reflect well on Estonia and raises the question of whether the European Union has overlooked something in shaping of its sanctions policy.
Mihkelson said that this was not an issue that only concerned Estonia, as the European Union’s goal should be to formulate a sanctions policy that would really influence the Belarusian regime to release political prisoners, to implement the will of the Belarusian people by allowing free elections and to stop the constant threatening of neighbouring countries.
“This whole issue also has a much wider dimension, which relates to the overall security situation,” Mihkelson noted. “If we cannot even impose workable sanctions against Belarus, then what message does it send Russia?”
Deputy Chair of the Foreign Affairs Committee Mihhail Lotman admitted that the Belarusian transit was not something mysterious, and it had been spoken about for months. “It presents us as hypocrites. Belarusian transit is not something we have to coordinate with, for example, with Portugal; this transit goes through Estonia, and it is our right and our duty to stop it. We are arguing with the Germans that Nord Stream 2 must not be allowed to go ahead, but we ourselves are letting both Belarusian and Russian goods through Estonia,” Lotman said.
Minister Liimets explained the Foreign Affairs Committee that the Government took the criticism seriously. According to the Minister, a complete discontinuation of economic relations with Belarus has not been declared, but measures have been sought to influence the regime and support civil society.
Newspaper Eesti Päevaleht reported that, despite the sanctions, the volume of Belarusian oil products that have entered Estonia has tripled in monetary value.
Source: Parliament of Estonia
NordenBladet — The time limit for lodging an application before the European Court of Human Rights will be reduced from the current six months to four months on 1 February 2022.The process for lodging an application before the European Court of Human Rights (ECHR) in Strasbourg will be changed in certain respects as of 1 February 2022. As regards applicants, the most significant change is the reduction of the period for submitting an application. The time limit within which the Court must receive an application after the final domestic decision will be reduced from six to four months. However, the shorter application period will not apply to cases where the final domestic decision was given before 1 August 2021.The change is due to the transitional provision laid down in Protocol No. 15 amending the Convention for the Protection of Human Rights and Fundamental Freedoms, having entered into force on 1 August 2021, under which the four-month period for submitting an application to the Court shall only apply as of 1 February 2022. Another major change affecting applicants concerns the admissibility criteria for a human rights application at the Court with regard to ‘insignificant disadvantage’. Following this change that entered into force on 1 August 2021, cases where the applicant has not suffered a significant disadvantage will no longer be admitted, even if the alleged human rights violation had not been duly considered by a domestic court. Consequently, the European Court of Human Rights will no longer process matters that can be characterised as insignificant.The change underlines the subsidiarity of the application mechanism under the Convention in relation to applying the Convention at national level. Alleged human rights violations must primarily be considered before national courts.
Source: Valtioneuvosto.fi
NordenBladet — Anni-Kristiina Juuso, Master of Laws trained on the bench, has been appointed to serve as Secretary General of the Truth and Reconciliation Commission Concerning the Sámi People. Juuso will take up her duties on 1 February 2022.Juuso is transferring to her post from UiT The Arctic University of Norway in Tromsø, where she worked as a doctoral researcher studying the institution of truth and reconciliation commissions in the context of indigenous peoples. Prior to this, she served as a Senior Specialist at the Prime Minister’s Office in preparatory tasks related to establishing the truth and reconciliation commission in Finland, and as a Senior Adviser involved in establishing a truth and reconciliation commission concerning the Sámi and Kven people in Norway.
Source: Valtioneuvosto.fi
NordenBladet —
At its today’s sitting, the European Union Affairs Committee of the Riigikogu (Parliament of Estonia) discussed two initiatives of the Fit for 55 climate package and approved Estonia’s positions. With this, the Riigikogu has formed a position on all 13 initiatives proposed by the European Commission last summer.
Chair of the European Union Affairs Committee Siim Kallas said that the two initiatives discussed today were the last of the 13 initiatives set as interim targets for 2030, but the green transition did not end there and new initiatives were to be expected in the future. At its today’s sitting, the Committee gave its opinion on the European Commission’s proposals for Energy Efficiency Directive and Renewable Energy Directive, and admitted that the proposals were very ambitious.
According to one proposal of the Energy Efficiency Directive, all Member States have to reduce energy consumption at least 9% by 2030, compared to the 2020 reference scenario, and in 2024–2030 save energy at a rate of 1.5% every year instead of 0.8%. “We support the target of reducing energy consumption, but increasing of energy saving obligation by nearly two times from 2024 cannot realistically be met,” Kallas commented the positions approved by the European Union Affairs Committee. “The directive in itself is noble, and the direction taken with it is right,” the Chairman added.
According to another proposal, 3% of the total floor area of the buildings owned by public bodies has to be renovated annually, which means that 81% of buildings have to be renovated by 2030. Estonia agrees with the target, but wishes that the obligation would apply to the government sector instead of the public sector. The energy efficiency requirements of historical buildings were also spoken about at the sitting, and a question of whether they contradict the Heritage Conservation Act was raised. It was agreed that the heritage protection would have the last word, and it was underlined that Estonia would go to the negotiations with a wish that flexibility would be preserved in setting requirements.
Commenting the amendments to the Energy Efficiency Directive, Deputy Chair of the European Union Affairs Committee Raimond Kaljulaid said that it was a step in the right direction. He also agrees with the wish that Member States retain flexibility in meeting the targets.
According to the proposal of the Renewable Energy Directive, the EU-level target for renewable energy will be 40% instead of 32% by 2030. “The Committee discussed if Estonia could support an even more ambitious target, because we could have the potential of using much more green energy in 2030,” Kaljulaid said. “In my opinion, we could have underlined in our positions that instead of the 40% target, Estonia supports the ambition of 60–65%.”
However, it was pointed out at the sitting that as our potential might not be realised, and that in spite of smaller target, we could still increase the share of renewable energy in Estonia to 60%, there was no need to ask for a larger target at the negotiations. The European Commission recommends Estonia to increase the national renewable energy target to 46% by 2030, and Estonia agrees to it. Currently, the general share of renewable energy in Estonia is 30% of energy.
In Kaljulaid’s opinion, the provision on biomass could also have been amended. Estonia supports strengthening of sustainability criteria for biomass and also the proposal that from 2026, support for plants producing only electricity from biomass will be phased out. “It could have been clarified in the positions, which kind of biomass and in which plants can be used after 2026, or, for example, waste wood in cogeneration plants,” Kaljulaid said.
As a result of discussion, the Committee remained on the opinion that it was not practical to include non-exhaustive lists in the positions, as the notion of biomass is wider that waste wood and biomass is used also elsewhere than cogeneration plants. Besides that, the term “waste wood” is not defined. It was found that such amendments might therefore rise more questions than answers.
As regards the Renewable Energy Directive proposal, it was also pointed out that it would encourage cooperation between states, which suited Estonia in every way. That would concern the wind farm planned to be constructed in cooperation with Latvia, or the Baltic Sea electricity grid development plan. There is also a proposal to establish a 2.6% target for the use of hydrogen and hydrogen-based synthetic fuels by 2030. Estonia does not support that because technologies are not advanced enough to make meeting this target realistic.
The European Union Affairs Committee decided to support the positions presented by the Government on the proposals on the Energy Efficiency Directive in accordance with the opinion of the Economic Affairs Committee. The Committee decided to support the positions presented by the Government on the proposals on the Renewable Energy Directive in accordance with the opinion of the Economic Affairs Committee, partially taking into account the opinion of the Environment Committee. Based on the opinion of the Environment Committee, the European Union Affairs Committee decided to underline the importance of preparing impact analyses.
The positions of the Government regarding the two initiatives were presented to the European Union Affairs Committee by Tauno Hilimon, Expert of the Energy Department and Liisa Mällo, Head of Renewable Energy from the Ministry of Economic Affairs and Communications.
Source: Parliament of Estonia
NordenBladet — Minister for Foreign Affairs Pekka Haavisto and Minister of Defence Antti Kaikkonen will visit Sweden on 2 February and meet with Sweden’s Minister for Foreign Affairs Ann Linde and Minister of Defence Peter Hultqvist.The Ministers will discuss topical foreign and security policy questions.“Sweden is our closest bilateral partner and cooperation is active in many fields. Contacts at ministerial level are also close. I look forward to useful discussions,” says Minister for Foreign Affairs Haavisto.“In Finland’s international cooperation in the defence sector, Sweden has a special status. We intend to continue the defence cooperation between our countries that has intensified in recent years. The aim is to improve the interoperability of defence in all circumstances,” says Minister of Defence Kaikkonen.
Source: Valtioneuvosto.fi
