Nordic agency signs framework cooperation agreement with China
The Nordic Environment Financing Corporation (NEFCO) and the Foreign Economic Cooperation Office of the Ministry of Environmental Protection of China have signed a Framework Agreement to establish environmental cooperation together with the China Development Bank Corporation.
NEFCO has purchased emission reduction units from Chinese wind farms since 2008.
- Photographer
- Johannes Jansson/norden.org
The new initiative is called the Sino-Nordic Environmental Protection Cooperation (“SNEPCO”) Programme.
SNEPCO aims to promote cooperation between the Nordic countries and the People’s Republic of China in the field of financing environmentally sustainable projects in China. This will be done with assistance from the Ministry of Environmental Protection of China and the Ministries of Environment of the five Nordic countries.
SNEPCO financing will be extended to projects that
- promote mitigation of greenhouse gases and phase out of ozone depleting substances
- reduce persistent and toxic substances including heavy metals
- promote resource optimisation, cleaner production, energy efficiency and Clean Development Mechanism (CDM) investments of global and Chinese environmental interest.
NEFCO has been engaged in China since the mid-1990s and in climate change activities since 2008. The framework agreement signed today will enable NEFCO to substantially expand its financing operations in China.
The Nordic Environment Finance Corporation (NEFCO) is an international finance institution established in 1990 by the five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden.
NEFCO provides loans and makes capital investments in order to generate positive environmental effects of interest to the Nordic region.
Contacts
Michael Funch
Phone
+45 33960332
Email
mifu@norden.org
Mikael Sjöwall
mikael.sjovall@nefco.fi
