Impact

Nefco’s task is to accelerate the green transition by financing the initial scale-up globally of innovative Nordic solutions with positive environmental and climate outcomes.

Accelerating the green transition

We are the Nordic Green Bank whose task is to accelerate the transition to green. This is why all our financing is focused on environmentally beneficial, sustainable projects and solutions. Nefco financing is often the deciding factor in a project’s realisation. Our financing goals are aligned with the Nordic Vision 2020, the EU Green Deal, the Paris Agreement, and the Kunming-Montreal Biodiversity Framework. In assessing the sustainability of our investments, we are guided by the EU Taxonomy, the UN Sustainable Development Goals, and our own rigorous environmental criteria.

Our results

73%

of our investments were EU Taxonomy eligible in 2023

49%

reduction in electricity use from energy-efficiency projects in Ukraine

37m

tonnes of CO2 reduced since 1990

11,700

tonnes of phosphorus emissions to the Baltic Sea avoided since 1990

Our impact

Woman carrying a pot with flowers in the garden_Nefco-Nordic Green Bank

We demand return on impact. This is why we only finance activities that lead to positive outcomes for the environment and climate.

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How we assess impact

During our journey of over 30 years, we have developed uncompromising procedures for environmental and social assessments, project management and monitoring. We also use the six environmental objectives established by the EU Taxonomy framework to identify the benefits of potential investments.

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Global frameworks

Our Environmental and Sustainability Policy aligns with global, European and Nordic frameworks and goals to support concrete actions toward achieving carbon neutrality and a sustainable, circular and nature-positive economy

Internal operations

We strive to achieve positive impacts on the climate and environment in all our actions. This is why we measure, monitor, report and manage our internal operations.

How we measure our own footprint

Nefco in 2023

In 2023, more than 70% of our investments were EU Taxonomy eligible, our Biodiversity Pilot Programme continued, we had 40 ongoing green recovery projects in Ukraine, and increased activities related to clean energy in Africa and the Baltic Sea.

Highlights from 2023

Nefco’s biodiversity pilot programme

Protecting biodiversity helps maintain ecosystem services that businesses in different sectors depend on. Nefco’s Biodiversity Pilot Programme is testing and developing concrete biodiversity solutions in collaboration with companies.