Finland. Nokia Oyj
| Date of agreement: | 03 Dec 2018 |
|---|---|
| Country: | Finland |
| Customer: | Nokia Oyj |
| Amount in EUR: | EUR 250 million |
| Maturity: | 6 years |
| NACE sector / loan type: | Research and development |
Project
This loan has been provided to Nokia Oyj to finance their research & development programme focused on fifth-generation (5G) activities in Europe in 2018–2020.
Nokia conducts an extensive research and development programme focused on 5G. 5G is the next generation of wireless systems beyond the current 4G standards, providing a substantial increase in network capacity, reducing latency delays and enabling network slicing. Network slicing gives network operators greater ability to differentiate their services to match clients’ needs. In addition, 5G aims to better implement the Internet of Things.
Nokia is a Finnish multinational telecommunications and information technology company founded in 1865. In 2017, Nokia employed approximately 102,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around EUR 23 billion.
Fulfilment of NIB's mandate
Nokia will make significant R&D investments in key network technologies in Europe in 2018–2020, and some of those investments will be made in Finland. The investments will focus on developing product offerings in different business areas. The direct impacts will be substantial in terms of adding value to the company’s intangible assets and product offering.
Nokia’s broad research network extends to expertise in several countries. As part of that network is located in Finland, the project will support knowledge accumulation in a high-technology sector with a long track record and wide knowledge pool.
Sustainability summary
No significant sustainability issues have been identified for the 5G R&D program. Nokia has ISO 14001 environmental management system certification. The company measures and reports sustainability performance in accordance with international standards and has been recognised for sustainability work by different international sustainability indices and forums. In June 2017, Nokia became the first telecom company to commit via the Science Based Targets initiative to greenhouse gas emission reductions in line with the Paris agreement (2 °C scenario). This means that the company has a focus on the energy efficiency of both their own operations and products. Nokia is also engaged in development of global assessment standards for human exposure to radio waves and follows scientific developments within this field.
