As the Nordic Green Bank, Nefco’s task is to accelerate the green transition. We are guided by the Nordic Vision 2030, which aims to make the region the most sustainable and integrated in the world. The vision has three priority areas: building a green, competitive and socially sustainable Nordic region.
In practice, Nefco supports these aims by making exclusively green investments with a holistic approach, considering climate, biodiversity and social issues in all our investment decisions.
Innovation-driven Nordic small and medium-sized companies (SMEs) play a key role in the green transition, but they also often face challenges when seeking financing from traditional commercial banks. We aim to fill the so-called ‘missing middle’ – that is, to provide financing that supports these companies in their initial growth phase and helps them attract other investors and private sector financing. In particular, our financing seeks to demonstrate the scale-up potential of green solutions in new markets.
In addition to boosting the growth of Nordic SMEs whose solutions can have a positive impact on the environment or climate, we also have a long history of working on the green transition in Eastern Europe. In recent years, our work has been centred on partnering with municipalities and local authorities in Ukraine to address both direct and indirect consequences of the war and help Ukraine build back greener and better. The ultimate goal is to strengthen the resilience of the Ukrainian people and promote sustainable development and the further integration of Ukraine with Europe.
Through our special funds, we also finance projects that support sustainable development in Sub-Saharan Africa, healthier marine environments and the development of carbon markets. In Africa, our programmes aim to mobilise financing for new private investments in energy access and clean cooking. In the Baltic Sea region, we cooperate with the Helsinki Commission (HELCOM) on the Baltic Sea Action Plan, which aims to restore the ecological status of the Baltic marine environment.
The Nordic region shares many common ambitions: we want to be global frontrunners in the green transition and sustainability, increase the competitiveness of Nordic businesses, promote action on biodiversity and contribute to the Sustainable Development Goals (SDGs).
The Nordic region is one of the wealthiest, most stable and most democratic parts of the world. As such, we have not only an opportunity but also a responsibility to take a lead role in the green transition.
As a green financier filling a critical financing gap, Nefco’s role in accelerating the green transition is more important than ever.
Trond Moe
Managing Director