In 1915, pioneers in Sweden and Denmark established the first 25 kV power cable between the two countries. This was the very first step towards creating the highly effective joint Nordic electricity market that maintains the balance between power generation and consumption in the region. In 2014, the market, Nord Pool Spot, recorded a traded volume of more than 500TWh for the first time.
Nordic countries have had more success in decarbonising their energy systems than any other region in the world. Remarkably, the countries have made the changeover without sacrificing economic growth. While 2014 marks the first time that global emissions from the energy sector may decouple from GDP, the Nordic region has exhibited a steady decoupling since 1997. At COP21, the Nordic Council of Ministers heads a Nordic Pavilion, showcasing a wide range of green solutions from the Nordic countries.
Large opportunities to reduce CO2 emissions and invest in sustainable energy by ending fossil-fuel subsidies
IISD’s Global Subsidies Initiative, commissioned by the Nordic Council of Ministers, has developed a new tool to calculate CO2 emissions reductions achieved from removing fossil-fuel subsidies. Modelling of 20 selected countries shows that emissions could be reduced by an average of 11% by phasing out fossil-fuel subsidies between 2015 and 2020.
Together with local partners, the Nordic Partnership Initiative on Up-Scaled Mitigation Action (NPI) is implementing NAMA-readiness programmes in the Peruvian waste sector and the cement sector in Vietnam. The aim is to establish appropriate regulatory, institutional and financial structures to drive a step change towards sustainability in the sectors.