Nordic Environment Finance Corporation
NEFCO is an international finance institution established by the five Nordic countries. NEFCO finances investments and projects in Russia, Ukraine, Estonia, Latvia, Lithuania and Belarus, in order to generate positive environmental effects of interests to the Nordic region.
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One of many sunken ships in the Kola Bay - one of 42 environmental hot spots in the Russian Barents Region Photo: Patrik Rastenberger
The beauty of the Kola Bay is striking when one overviews Murmansk city centre from the newly built Orthodox church. The stunning beauty is, however, overshadowed by the sight of rusty, deserted ships, which can be seen here and there above water level. The Kola Bay has unfortunately turned into a graveyard for battle, transport and fishing ships. This in turn is a sad reminder of the fact that the bay has been identified as one of the 42 environmental hot spots in the Russian Barents region.
One of many sunken ships in the Kola Bay - one of 42 environmental hot spots in the Russian Barents Region Photo: Patrik Rastenberger
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Reducing climate emissions with bioenergy. Photograph: Patrik Rastenberger
[8.4.2008]NEFCO's annual result for 2007 shows a surplus of 4,7 million euros. This is the best financial result for NEFCO since the corporation was established in 1990. In total, 59 projects were approved last year covering e.g. investments in renewable energy, energy saving and wastewater treatment in Russia, Ukraine, Estonia, Latvia and Lithuania. NEFCO's first project in Belarus was also approved in 2007.
The State Unitary Heat Enterprise TEKOS in Murmansk. A possible business partner for carbon financing.
[15.4.2008]NEFCO is setting up a new global carbon procurement facility to procure greenhouse gas emission reduction credits from projects eligible under the Kyoto Protocol. The new fund, to be called the NEFCO Carbon Fund (NeCF), is directed at private investors, which have compliance obligations under the EU Emission Trading Scheme (EU ETS) and sovereign investors who are participants in the existing Kyoto fund managed by NEFCO, the Baltic Sea Region Testing Ground Facility (TGF).
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mikaelThe creaking of the rowlocks, the shrill cry of the gulls and the surging of the waves accompany us as we row. We examine and empty nets of slender flounder and bladder-wrack. At a depth of four metres, the varying fauna can be seen passing by. We smoke the fish with alder woodchips and juniper twigs.
More than 30 years have passed since my father and I fished for flounder in Nagu. Fishing in silence was one of our ways of communicating with each other. Later, communication and environmental activism became my profession.
- [12.3.2008]
- [21.12.2007]
