NIB Nordic Investment Bank

Environmental cooperation

Environmental cooperation

NIB seeks business partners who share its vision and commitment to sustainable development. NIB also works together with other international financial institutions (IFIs) and organisations in order to promote sound, coordinated and effective approaches to environmental issues. To a large extent, NIB's environmental cooperation is part of the general cooperation with other financial institutions.

NIB is an active partner in the Northern Dimension Environmental Partnership (NDEP). NIB also participates in several other international and regional forums for environmental cooperation. NIB works together with the Baltic Marine Environment Protection Commission, also known as the Helsinki Commission, or HELCOM. Within the Council of the Baltic Sea States, NIB is part of the international working group Baltic Agenda 21. NIB also participates in the MFI Environmental Working Group, which is a cooperation forum for multilateral financial institutions.

NIB communicates its environmental requirements to its financial intermediaries and may assist the intermediaries in implementing them.  

In 2006 NIB, together with four other European IFIs (the EIB, the EBRD, the CEB and NEFCO), signed the declaration European Principles for the Environment (EPE), concerning environmental management in the financing of projects. The aim of the declaration is to promote sustainable development and to protect and improve the environment. The EPE is based on the environmental principles, practices and standards of the European Union. The ambition is, however, to apply the EPE to projects in all the countries in which NIB and the other signatory banks operate. 

In 2013, NIB and nine other IFIs adopted the International Financial Institution Framework for a Harmonised Approach to Greenhouse Gas Accounting. CO2 estimates are an important parameter in assessing a project’s eligibility for NIB’s financing under the environmental mandate.

In 2015, on the basis of the harmonised approach to project-level greenhouse gas accounting, IFI working groups developed sector specific accounting principles for renewable energy, energy efficiency and the transportation sector.

European Principles for the Environment
Integrating Climate Change Information and Adaptation in Project Development
IFI Framework for Harmonised Approach to Greenhouse Gas Accounting
IFI Approach to Greenhouse Gas Accounting for Energy Efficiency Projects
IFI Approach to Greenhouse Gas Accounting for Renewable Energy Projects
IFI Joint Approach to Greenhouse Gas Assessment in Transport Sector

  • AR2017


NIB loan to NEFCO to boost energy efficiency in Ukrainian universities

NIB's loan will be used for the renovation of university buildings in Ukraine for better energy efficiency and to reduce greenhouse gas emissions.

21 Dec 2017

Nordic-financed wastewater treatment plant opens in Petrozavodsk, Russia

On 19 December, the city of Petrozavodsk and its water utility PKS inaugurated an upgraded wastewater treatment plant on the shore of Lake Onega.

19 Dec 2017

NIB lends for municipal investments in Tartu, Estonia

A loan to the City of Tartu will finance municipal investments in road infrastructure and education institutions.

30 Nov 2017