Nordic investment institutions lead the way for climate action and sustainable development at COP29
The NIB, NDF, and NEFCO are pillars in Nordic efforts to promote sustainable growth, climate adaptation, and environmental protection, both locally and globally. While each institution has a specific focus, their efforts complement each other in the fight against climate change.
Focus on financing in the Nordic Pavilion on 14 November
On Thursday 14 November, the three institutions are participating in and hosting several sessions in the Nordic Pavilion at COP29, with a focus on climate-smart financing and sustainable solutions. Discussions will include banks and climate strategies, Nordic climate innovations, the development of electricity grid capacity, and the financing of clean cooking solutions in developing countries.
Together, the NIB, the NDF, and NEFCO illustrate the power of Nordic co-operation for sustainable development. The institutions aim to tackle global challenges by integrating economic growth with environmental and climate considerations. Their success stories – from sustainable agriculture projects in Africa to emissions-reducing measures in Eastern Europe – offer valuable lessons for the rest of the world. By working across borders, they amplify the Nordic Region’s global impact.
About the Nordic investment institutions
The Nordic Investment Bank was founded in 1976 and is owned by the Nordic and Baltic countries. It invests capital in private sector projects in growth markets. The NIB targets companies that not only seek to promote economic development but also demonstrate a keen environmental and social responsibility.
The Nordic Development Fund provides climate finance for adaptation and mitigation projects, in particular in regions most vulnerable to climate change. Since its foundation in 1988, financing from the NDF has contributed to the positive development of the Global South.
The Nordic Environment Finance Corporation, founded in 1990, focuses on projects with immediate environmental benefits, particularly in areas close to the Nordic Region, such as Eastern Europe and the Arctic, but also globally. Over the years, NEFCO has funded numerous initiatives in renewable energy, waste management, emissions control, and water purification.
