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Nordic ministers to invest in green growth for the future of the Nordic countries

Green growth is an important enabler of growth and prosperity in the Nordic countries. The Nordic Business, Energy and Regional Ministers emphasise, therefore, that they are willing to assume responsibility for much of the future investments in green growth on which the Prime Ministers are expected make decisions in connection with the forthcoming Globalisation Forum and subsequent Prime Ministers' meeting.

Oct 14, 2011
Skog
Photographer
Johannes Jansson/norden.org

A Nordic Innovation Fund could become a reality. The ministers will continue discussions on the establishment of the Nordic Innovation Fund, together with the European Investment Fund (EIF), which will contribute one third of the funding. The proposal is a major investment of 250 million Euros, which will include an investment of 50 million Euros in so-called business angels.

The ministers will focus on the renewal of the EU's next Cohesion Policy, and discussed a joint approach to the shaping of the future regulations for the structural funds and for regional state aid.

Current regional trends in the Nordic countries were discussed, focusing on demographic challenges. The topics discussed included the possibility of bringing out good examples of how to work with demographic issues in different parts of the region in support of local and regional initiatives.

The ministers support continued Nordic co-operation on energy efficiency, renewable energy and green transportation.

The ministers are committed to continuing Nordic co-operation in the electricity market. Work on a common consumer market, the phasing in of renewable energy and Nordic network investments are deemed to be urgent. The ministers decided to identify common challenges and initiatives which will enhance co-operation in the Nordic electricity market; primarily on what is important for a guaranteed electricity supply and a properly functioning market, not least in view of the consumer perspective.

The ministers met on 13 and 14 October 2011 in Helsinki. Finland holds the Presidency of the Nordic Council of Ministers in 2011.

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