Policy Brief: Who is responsible for addressing transboundary climate risks to Nordic trade and food security?

The Nordic countries, heavily reliant on global trade, are increasingly vulnerable to climate change impacts abroad. However, national policies and business practices often overlook these "transboundary climate risks" (TCRs). Key challenges: Diffuse risk ownership: TCRs are dispersed across multiple jurisdictions, sectors and value chains, adding far more complexity than conventional direct or domestic climate risks.A lack of business preparedness: Limited awareness and action from businesses.Policy gaps: National policies often overlook TCRs.Siloed approaches to adaptation: Current adaptation approaches do not recognise the need for cross-cutting actions that use multiple policy tools across diverse sectors Suggested solutions:Strengthening Nordic and international cooperationImproving risk assessmentsPromoting public-private partnerships to enhance resilience