Bruna Alves
Research lead covering environment and sustainability
Climate change in the Nordics - statistics & facts
From the first carbon taxes in the world to a quick deployment of renewables, the Nordic countries have been on the forefront of the fight against climate change since the beginning. The Nordic region's greenhouse gas (GHG) emissions have declined by more than 32 percent since 1996, when they peaked. In 2022, they dipped below 240 million metric tons of CO₂ equivalent (MtCO₂e), the lowest value in at least three decades.
Parallel to the deployment of renewables and more recently electric vehicles, the Nordics are also vanguards in the carbon pricing field. In 1990, Finland was the first country to ever adopt a carbon tax, at 1.75 U.S. dollars per tCO₂e. Norway, Sweden, and Denmark all followed suit within two years. Three decades later, the Swedish tax had more than tripled, ranking as the third-highest carbon tax rate worldwide, at 125 U.S. dollars per tCO₂e as of March 2023. Norway and Finland also ranked among the world’s highest taxes. All Nordic countries also participate in the EU Emissions Trading System.
Largest GHG emitters in the Nordics
Considering the Nordic region as a whole, the transportation sector remains the largest GHG emitter, accounting for roughly one-fifth of total emissions in 2022. Nevertheless, the Norwegian fuel exploitation sector was the single-largest emitter in the region, with more than 30 MtCO₂e. This was more than the combined emissions of the five Nordic’s countries’ power industries. Norway is one of the leading oil-producing countries worldwide, with 1.9 million barrels produced per day in 2022. Oil fields and refineries represent four of the six largest carbon dioxide emitters in Norway.Progressive climate change mitigators
With an abundance of natural resources, Nordic countries have taken the lead in the green energy transition. The share of renewable sources in electricity generation in Norway and Iceland has consistently remained above 95 percent since the beginning of the century. The two countries rely strongly on hydropower, which made up over 70 percent of their electricity generation mix in 2022. Iceland’s mix is also strongly supported by geothermal energy. Meanwhile, Denmark saw the largest renewable growth in the period, from a 15-percent share in 2000 to more than 80 percent in 2022. Wind power alone makes up more than half of the Danish energy mix.Parallel to the deployment of renewables and more recently electric vehicles, the Nordics are also vanguards in the carbon pricing field. In 1990, Finland was the first country to ever adopt a carbon tax, at 1.75 U.S. dollars per tCO₂e. Norway, Sweden, and Denmark all followed suit within two years. Three decades later, the Swedish tax had more than tripled, ranking as the third-highest carbon tax rate worldwide, at 125 U.S. dollars per tCO₂e as of March 2023. Norway and Finland also ranked among the world’s highest taxes. All Nordic countries also participate in the EU Emissions Trading System.
