Page 4 - SKR-annual-report-2022-EN

4 SECRETARY GENERAL’S REVIEW

Secretary General’s
review

Despite the grim times we have continued our
constant support for science and the arts, aiming
to achieve ever greater impact with our funding.

fter two pandemic years, the Finnish Cultural Foundation has
returned almost to normal. The cultural sector in Finland has
been revitalised, and the public is again finding its way to artistic

events. The use of our funds exceeded €53 million, and it will be further
increased next year.

For the management of our capital, this year was no less turbulent than
the two previous ones. At the beginning of the year under review, the market
value of the assets was around two billion euros. However, the Russian
invasion of Ukraine tossed the world back to an era of uncertainty and
vacillating capital markets. At the end of the financial year in September,
the total value of our assets remained at ca. €1,800 million. As there is no
reason to anticipate calmer times in 2023, our liquidity has been kept high.
This again is threatened by the high inflation rate – even if for us the most
fitting measure of inflation is the wage index, which is not expected to rise
as fast as consumer prices.

Although the war in Ukraine has totally altered European energy systems,
defence policies and the whole mental climate, it has only indirectly affected
the Foundation’s activities. First, we had to take a stand in regard to
Russian and Ukrainian applicants, who are both a regular feature of our
grant rounds. Next, our Mirjam Helin International Singing Competition
organised a Helin Laureates Sing for Ukraine concert in September, featuring
past winners Kateryna Kasper (Ukraine) and Matija Meić (Croatia): the
proceeds of which were channelled through the Finnish Red Cross to be
used for Ukraine. Last but not least, while our statutes do not allow us
to finance Ukraine directly, we have supported the social integration of
Ukrainian children in Finland by cultural activities.

During the past year we have focused on the further-reaching consequences
of our funding programmes. It too often happens that a socially or culturally
relevant project achieves the promised results but does not lead to any
practical outcome. Can we regard it as a wise use of funds?

We have tried to avoid this problem in our recent initiatives. A prime
example is a research project which aims to improve the monitoring of
lake ecosystems. Finnish lakes will continue to be affected by strain from
various human activities, such as mines, forest industry, and sewage. We
have granted a million euros to a research project which explores more
sophisticated methods to gather data on the food chain and ecological
condition of the lakes. Simultaneously, at our request, the Ministry of
Environment has commissioned the Finnish Environment Institute to
consider how the improved methods could be included in the official
guidelines for monitoring. In this way we focused on creating a direct chain
from academic research to the necessary administrative changes.