Nordic Environment Finance Corporation

NEFCO is an international financial institution established in 1990 through an intergovernmental treaty between sovereign states, the Nordic countries Denmark, Finland, Iceland, Norway and Sweden. Our objective is to generate positive environmental impact of interest to the Nordic countries. We do this by facilitating investments related to green growth and climate mitigation and adaptation globally, with a particular focus on Eastern Europe, as well as the Baltic Sea, Arctic & Barents regions.
Type Public Funding

Investment info

Invests in
Product or prototype
Go to market
Growth and expansion
Investment range
€ < 25K
€ 25 - 50K
€ 50 - 100K
Primary markets
Investing in countries

Focus areas

Energy & Greentech
Energy & Greentech
Healthcare & Life Science
Healthcare & Life Science
Science & Engineering
Science & Engineering

Key people

Anja Nystén

Invests in SDGs

More about Nordic Environment Finance Corporation

We welcome project proposals, which aim at generating positive environmental or climate-related results. Each and every project enquiry and application sent to us is assessed from an environmental point of view by our team of environmental experts.

We are particularly interested in small and medium-scale projects with a high demonstration value, that is, projects that have the potential to grow and generate environmental impacts that are orders of magnitude greater than the original investment.

The ultimate goal of NEFCO is to find solutions that benefit the environment and climate in a cost-efficient way. Projects improving the ecological situation in the Baltic Sea, the Barents and the Arctic regions are of special interest to NEFCO. We are also willing to invest in projects that help to boost the implementation of Nordic green solutions on a global scale. We prioritise projects, which generate positive impact not only in the project country but also for the Nordic region as a whole.

What kind of projects can match the criteria? A positive climate impact can be achieved by, for example, improving energy efficiency or substituting fossil fuels with renewable energy sources. In the wastewater sector, we are particularly interested in monitoring biological oxygen demand and the discharges of phosphorus and nitrogen.

When providing financing for industrial projects, we give special attention to measures that can improve material efficiency by reducing the use of raw materials, metals, chemicals or water. We also attach great importance to measures that can substitute hazardous chemicals, mitigate the release of toxic pollutants or reduce emissions of greenhouse gases.

Projects resulting in positive environmental results can, for example, be related to:

  • Modernisation of industrial plants

  • Upgrades of energy utilities

  • Energy efficiency measures

  • Insulation of buildings

  • Renewable energy

  • Wastewater treatment

  • Solid waste management

  • Renewal of agricultural practises and/or manure treatment

  • Metal industry and mining

  • Production of environmental equipment

  • Manufacturing of equipment for more effective use of energy

  • Supplying consulting and engineering services within the field of environment and energy

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