The City of Helsinki contributes to the administration and operations of companies and other entities through corporate governance, as an owner or member.
Ownership is not a fundamental task of the City of Helsinki. Instead, it must support and contribute to the organisation of services, the city’s finances or the city’s social objectives.
Basis of the City of Helsinki’s ownership policy
- administrative regulations
- City Strategy
- corporate governance principles and good corporate governance
- subsidiary-specific ownership strategies
- other decisions concerning ownership policy
A key focus in the ownership strategies is whether the City of Helsinki’s ownership will remain as it is or whether changes will be made to it. The ownership strategies also define such things as each entity’s purpose, mission and significance for the City of Helsinki, and whether the entity belongs in the group operating under market conditions or among the other subsidiaries.
Subsidiary ownership strategies
The subsidiary ownership strategies include policies concerning ownership, strategic intent and the board of directors.
The time frame for the ownership strategies is roughly five to seven years. They are updated once per City Strategy period or as needed if there are significant changes to the operating environment, for example.