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The Nordic sustainable Blue Economy study
As a pioneer in green financing, Nefco only finances projects that generate positive environmental and/or climate-related impacts. Nefco believes that all finance can and should be green, for good.
Nefco is commissioning a study to analyse the Nordic sustainable Blue Economy and to identify high-impact solutions aligned with its environmental mandate. The study will focus on nature-positive and climate-smart solutions that address key marine and coastal challenges while supporting the transition to sustainable, low-carbon ocean industries. Building on existing Nordic analyses, such as The Nordic Ocean Opportunity and Nordic Oceans 2050, the study will narrow the scope to sustainable subsectors with strong potential for scalability and environmental impact.
The main focus of the study is to map and evaluate existing and potential companies and solutions across all Nordic countries (Finland including Åland, Sweden, Norway, Denmark including the Faroe Islands and Greenland, and Iceland). The study will identify promising, primarily small and medium sized enterprises (SMEs) and technologies across different stages of maturity. In addition, the study will include a limited review of relevant Blue Economy funding schemes and best practices in the Nordic region.
The findings will support Nefco’s strategic prioritisation of investments in the Nordic Blue Economy.

The Nordic Environment Finance Corporation (NEFCO) is an International Financial Institution established by the Nordic Governments in 1990. NEFCO provides results-based green financing.
NEFCO was created – after the collapse of the Soviet Union – in order to support the Nordic countries’ efforts to increase environmental awareness in Eastern and Central Europe by providing financing to projects that reduced emissions harmful to the environment. The reasoning was that it made more sense – financially speaking – to support new investments in line with the environmental priorities of the Nordic countries in Eastern Europe – adjacent to the Baltic Sea – compared with the rising marginal cost of introducing increasingly stringent requirements at home, since pollutants do not recognise national borders. Cost-efficiency remains a hallmark of NEFCO’s activities.
Focuses on establishing and applying standards to ensure consistent quality, safety, and compliance across products, services, and organizations.
Encompasses the harvesting, farming, and management of fish and other aquatic organisms for commercial, subsistence, or conservation purposes.