Nordic green financing generates interest in OECD

14.10.16 | News
Vindkraftverk
Photographer
Johannes Jansson/norden.org
Green Finance – the Nordic Way was the subject of curiosity and interest at the OECD Green Investment Financing Forum conference in Tokyo.

 

“The Nordic Region’s strong co-operation aroused great interest at the conference. The participants were especially interested in experiences of the joint Nordic-Baltic electricity market, which has made it possible to phase in renewable energy, as well as municipal climate efforts,” says Annika Rosing, head of the department for growth and climate at the Nordic Council of Ministers.

Rosing presented the Nordic experiences contained in the report “Green Finance – the Nordic Way”. Participants included financial institutions, international organisations, and representatives from Asian countries that are involved in green financing and investment.

The Nordic Region’s strong co-operation aroused great interest at the conference. The participants were especially interested in experiences of the joint Nordic-Baltic electricity market, which has made it possible to phase in renewable energy, as well as municipal climate efforts

The report shows that there is no magic solution to achieving a green transition – it requires broad efforts on many fronts, with green financing as a key factor. The report also points to the importance of co-operation between national and local authorities to develop long-term green financing solutions. It is also important that the Nordic countries subsidise green solutions during a transition period before letting market forces take over in line with the development of stable and predictable regulatory framework.

The report also stresses the importance of Nordic citizens’ commitment and willingness to engage in combating threats to the climate and the environment..

 Read the report “Green Finance – the Nordic Way”