In 2018, the Nordic Environment Finance Corporation (NEFCO) saw some remarkable developments in its operations with a strong financial result for the year and environmental impact from projects on targeted levels. A record number of investments in both the private and the public sector were approved, and seven new funds or initiatives were set up and assigned to NEFCO during the past year. Additionally, NEFCO became the first Nordic institution to receive Green Climate Fund (GCF) accreditation.
All projects financed and implemented by NEFCO are expected to generate positive results in terms of environment and sustainability. In 2018 alone, projects in NEFCO’s portfolio achieved CO2 emission reductions, both directly and through certified emission reductions (CERs), of 3.9 million tonnes, phosphorus discharges by 979 tonnes and nitrogen by 4,498 tonnes.
Overall, 124 new projects of EUR 64.6 million in total were approved during 2018. At the end of the year, NEFCO had a total of 65 ongoing projects with commitments totalling EUR 211.6 million, and 39 fund assignments. The annual accounts for 2018 show a surplus of EUR 8.55 million.
The Annual Review, which highlights NEFCO’s main activities, development steps and results, and the Annual Report including the complete financial statements, the Report from the Board of Directors and the Environmental Report, are both available online in PDF format.