Environmental criteria

Each and every project enquiry and application sent to us is assessed from an environmental point of view by NEFCO’s team of environmental experts. NEFCO's main focus in project financing is to generate cost-effective environmental benefits of interest to the Nordic countries. Projects improving the ecological situation in the Baltic Sea, the Barents and the Arctic regions are of special interest to NEFCO.

A positive environmental impact can be achieved by for example improving energy efficiency or substituting fossil fuels with renewable energy sources. In the wastewater sector, we are in particular interested in monitoring biological oxygen demand and the discharges of phosphorus and nitrogen. 

When providing financing for industrial projects, special attention is given to measures that can improve material efficiency by reducing the use of raw materials, metals, chemicals or water. NEFCO also attaches great importance to measures that can substitute hazardous chemicals, mitigate the release of toxic pollutants or reduce emissions of greenhouse gases.

NEFCO verifies that the projects to be financed have a direct or indirect positive impact on the local environment as well as the Nordic environment. The funds managed by NEFCO have different environmental priorities and goals that are reflected in the loan conditions for each fund. The environmental impacts are assessed in broad terms by taking into account also cross media effects and social aspects.

Projects resulting in positive environmental effects can for example be related to:
• modernisation of industrial plants
• upgrades of energy utilities
• energy efficiency measures
• wastewater treatment
• solid waste management
• renewable energy
• renewal of agricultural practises and/or manure treatment
• metal industry and mining
• insulation of buildings
• production of environmental equipment
• manufacturing of equipment for more effective use of energy
• supplying consulting and engineering services within the field of environment and energy

The projects financed by NEFCO are subject to mandatory recurrent reporting of environmental achievements. A post assessment of the environmental impacts is conducted for every project financed by NEFCO.

To ensure that your project fulfils the environmental criteria defined by NEFCO, please email our environmental department for further enquiries on environment [at] nefco.fi