new nordic climate solutions

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COP21 – so now what?
Focus on financing and parliamentary follow-up

Introduction by Dagfinn Høybråten,
Secretary-General of the Nordic Council of Ministers

COP21: Follow-up is crucial
The Nordic pavilion at COP21 was a great success, bringing together decision makers, experts, NGOs and climate negotiators from all over the world. More than 2000 people attended our events and more than 7000 followed them via livestream. Ministers from the Nordic countries played key roles in bringing about the final Paris agreement and their teams of negotiators worked tirelessly to make ends meet.

Now the focus is on follow-up. How can this successful agreement be turned into a reality and ensure the goals set forth? This issue of “Green Growth the Nordic Way” looks at two factors in this endeavor, namely financing for climate initiatives and parliamentary engagement and pressure on governments to deliver the results promised.

In terms of financing, it was agreed already at COP15 in Copenhagen to raise $100 billion per year by 2020 to help developing countries cut carbon emissions. This pledge was renewed in the Paris agreement, but it is hardly enough to meet the demands. We take a closer look at the work done by amongst others SEB and the Nordic Investment Bank to promote green bonds and establish new mechanisms for more climate investment.

Many of the side events at the Nordic COP21 Pavilion focused on the task of parliamentarians in terms of ensuring an effective follow-up to the Paris Agreement. In our second article in this issue we ask some of the participants why this is such an important task and what they see as their main role. There is much work ahead and the Nordic Council of Ministers will keep doing our bit. The Nordic follow-up to COP21 is already being planned, so stay posted and enjoy your reading of this issue of “Green Growth the Nordic Way”.

dagfinn

Dagfinn Høybråten
Secretary-General, Nordic Council of Ministers

For more info on the Nordic COP21 Pavilion, please go to www.norden.org/cop21.

See also the video New Nordic Climate Solutions at COP21

See streaming from events at the Nordic COP21 pavillon

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Feature articles

greenbonds

Green bonds attract private capital to climate action

Under the COP21 Paris Agreement, developed countries are urged to raise the bar for climate financing. The goal is to provide USD 100 billion annually by 2020 to support climate action in developing countries. Nordic financial institutions and climate experts have been a driving force behind the rapidly expanding green bond market, which will be instrumental in attracting private sector climate funding. The Nordic Governments and Nordic Investment Bank are committed to activating private capital in the battle against climate change.

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parliamentarians

Parliamentarians to hold governments accountable for COP21 climate commitments

Nordic parliamentarians describe the climate agreement adopted by 195 countries at the Paris Climate Change Conference as the best possible outcome of the international climate negotiations. It is now up to parliamentarians around the world to ensure that each country lives up to its climate commitments, but also to take more drastic regulatory measures to limit the average global temperature rise. The Nordic Council has opted to to serve as a platform for increased co-operation between the Nordic parliaments

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News and events

News and events