International financial institution
Nefco is an international financial institution (IFI) established in 1990 by the governments of Denmark, Finland, Iceland, Norway and Sweden. The structure of the Board of Directors and Control Committee reflects the ownership of Nefco.
Board of Directors
The Board of Directors makes policy decisions concerning the operations of Nefco and approves the financing of investments proposed by Nefco’s Managing Director. The Board of Directors also approves the annual budget and is responsible for Nefco’s financial statements. The Board of Directors may delegate its powers to the Managing Director where appropriate. The Board of Directors consists of five members, each of whom has one alternate. The members and their alternates are appointed by the Nordic countries for a maximum term of six years at a time. The Board appoints a chair and a deputy chair from among the members for a period of one year. The positions of chair and deputy chair rotate among the Nordic countries.
Our board members and alternates
Denmark
Carsten Møberg Larsen
Senior Policy Adviser
Danish Environmental Protection Agency
Alternate
Jakob Anker Tvede
Chief Advisor
Ministry of Foreign Affairs, Denmark
Finland
Saija Vuola
Ministerial Adviser
Ministry of the Environment, Finland
Alternate
Sannamaaria Vanamo
Deputy Director General
Ministry for Foreign Affairs, Finland
Iceland
Halla Sigrún Sigurðardóttir
Director General
Ministry of the Environment, Energy and Climate, Iceland
Alternate
Magnús Örn Agnesar Sigurðsson
Head of Division
Ministry of the Environment, Energy and Climate, Iceland
Norway
Siri Sorteberg
Senior Adviser
Norwegian Environment Agency
Alternate
André Kammerud
Head of Section
Norwegian Environment Agency
Sweden, Chair
Erik Kiesow
Senior Adviser
Ministry of the Environment, Sweden
Alternate
Daniel Johansson Århem
Deputy Director
Ministry for Foreign Affairs, Sweden
Secretary to the Nefco Board
Tita Anttila, General Counsel, NEFCO
Observers
A representative of the Nordic Investment Bank and the secretariat of the Nordic Council of Ministers may participate in the board meetings as observers without the right to vote.
Control Committee
The Control Committee is Nefco’s supervisory body. It ensures that Nefco’s operations are conducted in accordance with the Statutes of Nefco. The Control Committee is responsible for the audit of Nefco’s accounts and submits the Auditor’s report annually to the Nordic Council of Ministers.
The Nordic Council appoints five Nordic parliamentarians to the Committee. The Chair of the Committee is appointed by the Nordic Council of Ministers. The Control Committee appoints two professional external auditors for the purpose of assisting the Committee in carrying out its work and responsibilities. One of the appointed professional auditors is from Nefco’s host country (Finland) and one from another Nordic country.
Members of the Control Committee
Chair Jan-Erik Enestam (until 2024), Minister, Independent Consultant
Sjúrður Skaale, Member of Parliament, Denmark
Noora Fagerström, Member of Parliament, Finland
Vilhjálmur Árnason, Member of Parliament, Iceland
Truls Vasvik, Member of Parliament, Norway
Maria Stockhaus, Member of Parliament, Sweden
Auditors appointed by the Control Committee
Terhi Mäkinen, Partner, Authorised Public Accountant, Ernst & Young (Finland)
Mona Alfredsson, Partner, Authorised Public Accountant, Ernst & Young (Sweden)
Secretary to the Control Committee
Tita Anttila, General Counsel, NEFCO
Managing Director
The Managing Director is appointed by the Board of Directors for a term of up to six years at a time. The Managing Director is responsible for the conduct of Nefco’s current operations and must follow the guidelines and instructions given by the Board of Directors. The Managing Director is assisted in his or her work by the Management Committee and different Investment Committees.
Management Committee
The Management Committee is an advisory body to the Managing Director. The Vice Presidents, the General Counsel and the Managing Director form the Management Committee.
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