Introduction

Nopef (the Nordic Project Fund) aims to promote the green transition to a climate-neutral and sustainable society by funding feasibility studies for the internationalisation of Nordic environmental and climate solutions. Nopef operations contribute to the objectives of the Nordic Vision 2030 and to Nordic interest through increased employment, knowledge sharing and the development and implementation of sustainable business models.

 

In 2021, all 37 projects approved for financing coincide directly with one or more of the initiatives in the Nordic Council of Ministers’ action plans for the Nordic Vision. Nopef operations contribute particularly to the areas for circular economy, sustainable ocean economy, as well as sustainable construction and buildings.

Nopef has financed

projects

with total value of

Nopef offers financial support to Nordic small and medium-sized growth companies (SMEs) for feasibility studies, with a special focus on promoting green investments with demonstration value and potential for scale-up and growth on international markets. According to the customer survey carried out among former Nopef customers in 2021, 74% of the companies report that Nopef support had a significant or very significant impact on the decision to initiate their internationalisation project. In addition, many of the projects financed by Nopef are creating new Nordic networks and contributing to the knowledge transfer between Nordic companies.

Nopef is administered by Nefco (Nordic Environment Finance Corporation) since 2014 and financed through annual budget allocations from the Nordic Council of Ministers. Since its establishment in 1982, Nopef has provided funding for 3,240 projects with a total value of over EUR 112 million. Today, all funded projects undergo an environmental evaluation and have the potential to generate direct or indirect positive environmental impacts. In its operations, Nopef strives to cooperate with other Nordic institutions and with export and innovation promotion agencies in the Nordic countries.