10.09.2025 | Insight
A newly published overview offers insights into how the Nordic countries are advancing their climate targets and engaging in carbon market cooperation.
The Nordic countries have committed to ambitious climate change mitigation targets and are highly aware of climate risks to economy, ecosystems, and global stability. In addition to national efforts, the Nordics actively support international cooperation to achieve the critical goals of the Paris Agreement, also through the Nordic Initiative for Cooperative Approaches (NICA), a regional programme managed by Nefco that promotes collaboration on carbon markets and market-based solutions.
New overview summarises Nordic climate targets and Article 6 cooperation
A newly released overview from NICA provides a timely snapshot of the Nordic countries’ ambitious climate targets and how carbon market cooperation is evolving across the region.
As the Paris Agreement enters its critical implementation phase, this newly published snapshot of the Nordic countries highlights how Article 6 of the Paris Agreement is taking shape on the ground. It underscores NICA’s mission to accelerate carbon market readiness and support effective, cooperative climate action.
Read and download: Overview of Nordic climate targets and Article 6 cooperation
Commissioned by NICA and developed in August 2025 by the Nordic countries and Nefco, with support from the Perspectives Climate Group, this overview offers valuable insights into regional progress.
How are the Nordic countries currently cooperating in the carbon markets?
Nordic carbon market cooperation currently includes:
- capacity building
- piloting Article 6 approaches
- purchasing internationally transferred mitigation outcomes (ITMOs) to help meet national climate targets
Through this collaboration, the Nordic countries can support global climate action and enable greater climate ambition while mobilising private finance for the green transition and developing high-integrity carbon markets.
At present, Sweden and Norway are actively using these tools to advance their climate change mitigation goals.
Read and download: Overview of Nordic climate targets and Article 6 cooperation
About NICA
The Nordic Initiative for Cooperative Approaches (NICA) is a regional programme managed by Nefco that promotes Nordic collaboration on climate action, with a particular focus on carbon markets and market-based solutions. NICA’s mission is to accelerate carbon market readiness across the Nordic region by facilitating international cooperation and capacity building.
Read more: www.nefco.int/NICA
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