At their summit in Iceland, environment ministers from the Nordic region stressed in a public statement that “The Nordic Region must show the way and act as a global pioneer in climate-friendly technology.” But this doesn’t mean that business has to lose out during the transition to more earth-friendly technology.
“Climate-friendly technology is in great demand. Long-term investments are needed to turn the economy around. We need to promote green growth. The climate will benefit and green investments will also generate growth and create jobs,” the ministers said, according to the Norway Post.
The Nordic Region is already one of the world’s pioneers in this field. More than 60 percent of the region’s electricity is produced from renewable sources, but the ministers pointed out that increased investment in research and development coupled with innovations in climate-friendly technology could open up even more markets to future business revenue.
The meeting’s decision to allow the Nordic Development Fund to allocate aid for climate-friendly projects in developing nations was applauded by the ministers. This move is seen as very significant in the build up to the huge climate summit set to take place in Copenhagen this winter. They hope their own initiative will inspire other nations to follow suit.
Other important developments at the Iceland meeting include a report on ways to better manage and protect marine areas, as well as the decision between ministers to work more closely in the promotion of co-operation between international conventions concerning biodiversity.