DKK 250 million to a Greener Post-COVID-19 Business Sector

The eight initiatives will make it easier for Nordic businesses to operate across borders and support the vision for the Nordic region to be the most sustainable and integrated region in the world by 2030.

The initiatives, which will run from 2021 to 2024 with a budget of DKK 250 million, were decided by the Nordic ministers of trade and industry 1 September and support sustainable solutions, circular economy, digitalization and innovation.

“The eight initiatives we have agreed on today exemplify how climate measures, the green digital shift, and economic recovery after the coronavirus crisis go hand in hand. These initiatives in areas such as circular and sustainable business models, green transport, and digitalization strengthen the Nordic region’s position at the forefront of green innovation and entrepreneurship, and thus contribute to future sustainable growth and new jobs,” says Simon Kollerup, Denmark’s Minister of Industry, Business and Financial Affairs, who is chairing the Nordic ministers for trade and industry in 2020.

Read the Nordic Council of Ministers' official press release

Driven forward by Nordic Innovation

The eight initiatives will primarily by driven forward by Nordic Innovation, which is a part of the Nordic Council of Ministers.

“We believe the ministers for trade and innovation’s eight initiatives will be a great contribution to strengthen innovation, entrepreneurship and competitiveness in Nordic businesses and we look forward to follow up on them”, says Svein Berg, Managing Director of Nordic Innovation.

During the autumn, Nordic Innovation will work with representatives from key stakeholders in both the public and the private sector from all the Nordic countries to translate the initiatives to action and activities for the period 2021-2024.

A green and competitive Nordic region

The transport sector is one of the areas where the ministers for trade and industry see huge potential for increased co-operation. Among other things, the ministers want to draw up a green Nordic maritime transport strategy. The objective of this is to enable Nordic trucks and ships to increasingly be run using green fuels.

The ministers’ package also includes investments in digital solutions in the transport sector. These will increase opportunities for exchanging data in the sector, which will in turn help make more efficient use of trucks’ and ships’ cargo space.

The ministers for trade and industry would also like to see new investments in life science and health technology. Although Nordic companies in these sectors are world leaders, there is still room for improvement. An important step is to enable various actors to securely share and access health data across the region’s borders.

The ministers also want to strengthen the Nordic region’s position in the circular and green shift, with an initiative for circular business models, data, and digitalization.

The construction sector is another sector for further green development. The aim is to make construction materials as reusable as possible and to make housing more climate friendly. In addition, investments are being made in more sustainable mining operations and metal production.

“The initiatives by the ministers for trade and industry represent a determined advance towards a stronger and more sustainable Nordic region. They are important steps in our quest to make business and industry green, circular, and carbon-neutral in line with our vision. This is positive for both the climate and our economies,” says Paula Lehtomäki, Secretary General of the Nordic Council of Ministers.