Ålandsbanken's Baltic Sea Project Funds Record Environmental Innovations

Dagens Industri reports that Ålandsbanken's Baltic Sea Project is providing a record number of grants this year to initiatives aimed at improving the health of the Baltic Sea. The project received over 200 applications, a new record in its ten-year history. Supported innovations include a biogel for oil spills, bird-safe wind power technology, and GPS tracking for eider duck populations. Established a decade ago by Anne-Maria Salonius, Director for Ålandsbanken's Finland business area, the Östersjöprojektet (Baltic Sea Project) was founded after witnessing the sea's deteriorating condition. Its mission is to inspire and fund solutions for the Baltic Sea's environmental improvement. To date, the project has distributed nearly €5.5 million. Therese Nordenberg, Marketing and Communications Manager at Ålandsbanken Sweden, noted the high level of engagement, underscoring the sea's importance for recreation and nature experiences, as well as its significant economic implications for the nearly 90 million people in surrounding countries. Ålandsbanken's strategic focus on the Baltic Sea is driven by its geographical location. A Boston Consulting Group study suggests that implementing environmental measures could create hundreds of thousands of jobs, while inaction could lead to job losses. The project highlights the interconnectedness of environmental restoration and economic development, emphasizing how a healthier sea supports cleaner water, sustainable tourism, and stronger businesses.