NDF - Financing for climate change and development projects

Opportunities for New Nordic Climate Finance discussed in Helsinki

Photo: CC/Michael Mazengarb

The seminar was arranged by the Nordic Council of Ministers and co-hosted by the Nordic Investment Bank.

A workshop with the topic “New Nordic Climate Finance” brought together around 70 professionals from the Nordic countries including finance specialists from both the private and the public sectors in Helsinki this week. The seminar was arranged by the Nordic Council of Ministers and co-hosted by the Nordic Investment Bank. The presentations and panel discussions during the day focused on experiences and new ideas that can foster collaboration between the public and the private sectors towards increased climate-focused financing.
NDF brought into the discussions its experiences from its current activities focusing on the catalytic role, the opportunities arising from support to project preparatory financing as an accelerator, as well as various risk-sharing instruments that can support collaboration of financiers with varying risk appetite. NDF’s Vice President and Deputy Managing Director Leena Klossner also mentioned specifically adaptation-related finance as an emerging and underutilised area of work, and highlighted the role and potential of financing schemes such as the Nordic Climate Facility as avenues for inviting new stakeholders to the business.

Ms. Klossner also highlighted the need to take stock of the initiatives and institutions that we have in the Nordic countries, and to take a fresh look at how these institutions could better deliver a full range of financing solutions for various needs in a package where transaction costs are minimised and clients have easy access to different types of instruments.
Discussions during the day highlighted clearly the opportunities and restrictions of institutional investors when it comes to green finance, and pointed out the need for different kinds of financing instruments and institutions to deliver the much-needed additional financing towards climate change action, both mitigation and adaptation.