Group entities
The City of Espoo forms the Corporate Group of Espoo together with its subsidiaries as well as associated entities and joint municipal authorities over which it exerts control. A subsidiary refers to an entity in which the City of Espoo holds more than 50% of the voting rights. Foundations under the city's majority control are also considered subsidiaries. An associated entity refers to an entity in which the City of Espoo holds between 20% and 50% of the voting rights. In addition to the parent city, the Corporate Group of Espoo includes a total of 24 entities over which the city exerts control.
Group entities
Downloadable files
Ownership policy
The Corporate Group of Espoo is extensive, with group entities operating across several sectors. The ownership policy establishes uniform principles and guidelines for ownership and group management. By adhering to these principles and guidelines, ownership serves as a means of organizing and developing services, for example. The primary focus of the ownership policy is on the subsidiaries of the Corporate Group of Espoo, and, where appropriate, the joint municipal authorities, foundations and associations, and associated entities. The ownership policy is based on the Espoo Story. The Espoo Story guides all activities and efforts to achieve common goals, and the group entities contribute to its goals as well. The ownership policy ensures that the Corporate Group generates added value for Espoo and its residents.
Corporate governance principles
In addition to the ownership policy, the entities follow the corporate governance principles and the guidelines for good administrative and management practices. The purpose of the corporate governance principles is to define the principles and practices of managing the Corporate Group. It contains guidelines and recommendations for the board and management of the group entities and aims to ensure the achievement of the Corporate Group's common goals and the implementation of the Corporate Group's internal control and risk management. The guidelines for good administrative and management practices are part of the corporate governance principles. Their purpose is to harmonize the administrative and management practices of the City of Espoo's subsidiaries.
Below, you can read more about the ownership policy and corporate governance principles.
Ownership policy(external link, opens in a new window) (only in Finnish)
Corporate governance principles(external link, opens in a new window) (only in Finnish)
Corporate governance
Corporate governance refers to the measures through which the city, as an owner or member municipality, contributes to the administration and operation of companies and other corporate entities. The goal of corporate governance is to ensure that the operations of the city's subsidiaries take into account the overall interest of the Corporate Group of Espoo.
The Corporate Group and Premises Subcommittee supports the City Board in the management of the city's subsidiaries and in the guidance and monitoring of other corporate entities.
.
Corporate Governance contact information
Financial Planning Director (acting); Director, Corporate Governance
Maria Jyrkkä, tel. +358 46 8773025
Corporate Group reports and joint reports for the capital region
The objectives of the Espoo Story apply to the entire Corporate Group. Just like the parent city, the entire Corporate Group needs active and responsible guidance. The Espoo City Council sets annual financial and operational goals for the most significant entities of the Espoo Corporate Group. The achievement of these goals is monitored and reported regularly, four times a year, to the City Board's Corporate Group Subcommittee, the City Board, and the City Council.
Below, you can find the Corporate Group reports and the joint reports for the capital region.
Reports
