BOOSTING GREEN INVESTMENT - Coordinating and improving funding for green investment and companies
GREEN GROWTH THE NORDIC WAY Green growth is a key priority for Nordic co-operation in the coming years. “The Nordic Region – leading in green growth” is the Nordic Prime Ministers’ shared green growth initiative under the auspices of the Nordic Council of Ministers. The green growth initiative is a vision based on the joint utilization of Nordic strengths in a number of areas including green investments. The projects described here are part of this effort, involving the following Councils of Ministers: Finance, Trade, Energy. See more at www.norden.org/greengrowth or read the web magazine “Green Growth the Nordic Way” at www.nordicway.org
Funding for new investments and projects will be crucial if the Nordic Region is to promote and play a leading role in the growth of green companies. In addition to private investment, the Nordic countries can facilitate funding via their national budgets, and via funding bodies financed by the Nordic budget or owned by the Nordic countries in which the Nordic Council of Ministers plays a primary role.
green investment and recommendations for increased funding and coordination. • An initial report was presented to the Ministers of Finance in 2012. Step 2: Better use of economic instruments Map, analyse and recommend best practices for using general economic instruments in environmental policy in order to achieve better green investment.
Can we achieve a better impact with these investments? AIM AND OUTCOME Economic instruments such as taxes and subsidies are essential if we are to decouple economic growth from increasing environmental damage. What can we learn from using these instruments – and the effects of improving green investment – and how can we apply them more effectively? The project, coordinated by the Committee of Senior Officials for Finance under the Nordic Council of Ministers, was launched in 2012 and will be completed at the end of 2014. It will be carried out in two steps: Step 1: More bang for the buck Analyse and map green investment in international financial institutions where the Nordic countries have significant influence. Investigate the potential for a greater focus on
The mapping will be completed in February 2014, with a study conducted under the auspices of the Nordic Working Group of Environment and Economy. TIME LINE Analysis of the effect of economic instruments on green investment and best practice recommendations will be initiated in March 2014. Final recommendations will be presented to the Ministers of Finance, preliminarily at the end of 2014. PARTNERS Nordic Working Group on Environment and Economy CONTACT Ola Yndeheim, Nordic Council of Ministers, oy@norden.org
GREEN GROWTH THE NORDIC WAY “The Nordic Region – leading in green growth” is the Nordic Prime Ministers’ shared green growth initiative under the auspices of the Nordic Council of Ministers. Green growth is a key priority for Nordic co-operation in the next few years and Nordic partnerships in this field has the potential to create a larger regional market, give a political lead in the EU, improve joint infrastructures and provide critical mass for future developments. The Nordic Prime Ministers’ green growth initiative is a vision based on the joint utilization of Nordic strengths in a number of areas including: • Energy efficiency and climate • Waste treatment and food waste • Sustainable building and ecodesign • Investment in innovation and research • Green public procurement and green investments This exhibition highlights aims and results from the following projects under “The Nordic Region – leading in green growth”: 1. Developing Nordic test centres for green solutions 2. Working together on education, training and research for green growth 3. Promoting flexible consumption of electricity 4. Working together on green-technology norms and standards 5. Working together on green procurement in the public sector 6. Developing techniques and methods for waste treatment 7. Promoting the integration of environmental and climate considerations into development aid 8. Co-ordinating and improving funding for green investment and companies. You can read articles on the individual projects at www.nordicway.org More info at norden.org/greengrowth
THE NORDIC REGION – leading in green growth