Despite the corona pandemic, the operational and financial result of the Turku Student Village Foundation’s 54th year of operation, i.e. 2020, was rather close to expectations.
As elsewhere in the world, the most significant external factor affecting the foundation in 2020 was the corona pandemic, the impact of which on the health of the foundation’s personnel, tenants, customers, partners and other stakeholders was sought to minimize and reject occupancy rate decrease and other potential negative effects on the foundation’s operations where possible. So far, the negative effects are estimated to have been particularly pronounced in the slight decline in occupancy and in changes in the work community’s internal and stakeholder engagement, some of which are likely to remain long-term or permanent and some are also positive. The latter will be strengthened. The impact of the pandemic will be assessed and changes in the foundation’s operations will be considered and made during and after the pandemic.
Strategy work was also carried out during the year and the foundation’s strategy was updated, which was approved by the foundation’s Board of Directors in the fourth quarter of 2020. The update clearly includes the foundation’s new values, responsibility and sustainability, also arising in this report. Responsibility and sustainable development are manifested in e.g. so that TYS is ready to introduce new things that promote the use of sustainable materials, energy saving and the use of renewable energy sources, and to invest in sustainable development solutions. The update of the strategy also identified changes in the operating environment, among which are e.g. climate change, carbon neutrality and negativity, sustainable development and circular economy, as well as economic stagnation and uncertainty. Although the update does not include major changes, it will be easier to communicate in the future and hopefully be more listener, viewer and reader friendly at the same time.