Saastamoinen Foundation has granted the University of Eastern Finland €1.7 million in funding for research aimed at addressing the sustainability gap in a fair and welfare-promoting manner. This funding significantly strengthens the university’s research in sustainability law and economics.
Project leader, professor Niko Soininen. © UEF
Restored water ecosystem. Photo: Raija Törrönen © UEF
The research focuses on structural factors in the legal and economic systems that hinder progress toward a sustainable future. It examines issues such as economic growth and foundational principles of the legal system, including the protection of property rights. Case studies within the project will concentrate on the restoration of freshwater ecosystems in Finland’s rivers and peatlands.
“The research innovatively integrates legal and economic studies at both macro and micro levels to achieve sustainability goals. With this funding, we will address the root causes of the sustainability gap, rather than limiting our focus to surface-level economic indicators or legal regulations. Our aim is to elevate the University of Eastern Finland’s research on the intersections of sustainability law and economics to a global level, ultimately envisioning a center of excellence dedicated to this field,” says Professor Niko Soininen, the project leader.
Saastamoinen Foundation aims to contribute to building a fair and sustainable future through this funding.
“Saastamoinen Foundation partners on programmes that help create a better world for future generations. It’s crucial for Finland to develop solutions that promote fair and sustainable practices,” says Päivi Karttunen, a member of the foundation’s board.
The research, conducted by the university’s departments of law and social sciences, will focus particularly on the interactions between the rule of law, economic systems, and societal well-being.
“For instance, global research on the rule of law has sought to identify universal principles that apply to the functioning of all developed legal systems. These include predictability of law and the relative permanence of decisions, which contribute to societal stability. From a sustainability perspective, it’s necessary to assess to what extent these structures can and should be reevaluated to achieve sustainability goals while maintaining societal stability,” explains Professor Seita Vesa.
Identifying alternatives to macroeconomic phenomena, such as dependence on economic growth, can help better understand the interrelationships between the economy, society, and the environment, as well as the nature of change. The research will develop an ecological macroeconomic model tailored for Finland and examine its implementation. This model enables long-term analysis of systemic impacts during a sustainability transition. Postdoctoral researcher Teemu Koskimäki is leading the macroeconomic modeling efforts. Additionally, the project will support the launch of a new economics bachelor’s program at the University of Eastern Finland.
“It’s essential to evaluate how solutions that reduce consumption quantity while improving its quality, as well as ecological restoration, can be widely implemented to secure sufficient material living standards and significantly improve quality of life over the long term,” emphasizes Professor Arto O. Salonen.
With the funding, Research Director Antti Iho will work alongside legal experts to analyze the economic and legal obstacles to freshwater restoration in Finland. The project will also develop a framework for economic valuation to support decision-making in water restoration projects. Through economic analyses and the development of change management tools, the project aims to facilitate the decommissioning of small hydropower plants eligible for the government’s “Nousu” program.
