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Mundus International continues our analysis of Nordic green businesses’ plans via their press releases and media coverage through our Nordic Green Indices. It is the only analysis that we know of its type, tracking total activity, dissecting it via country and technology type. In addition, we look for changes in government policy and activity in the financial markets, collating the key drivers of economic transformation.
Fall was an exceptionally strong across the Board for the Nordic green transformation. Activity in Nordic green industries is growing at a CAGR of over 30%, according to Mundus Nordic Green Indices. At this rate, activities are already 80% higher than they were in 2020. If the pace continues, green industry will be developing ten times higher by 2028. Is that realistic? Possibly. The Nordics have a deep talent pool of technology and engineering experts, and with growth oriented export companies it is conceivable that their economies are already switching over to be cleantech powerhouses. The level of cross-border action involving companies from more than one Nordic country has grown from 6% to 15% of the total index. The inference is that the green economy is maturing as it is scaling, and firms are looking further afield to find their best opportunities, suppliers and partners.
Nordic governments are continuing to make a range of policy announcements to drive green change. Generally these act for the green agenda, although not always so. Sweden’s policies have become significantly less green since the arrival of its new populist government, and Norway has increased taxation on its wind sector. 15 major projects – valued at more than €100 million each – were announced in October and November.
➢ See the November edition of Mundus Nordic Green Indices for further details. Click here to download the report ✅