Bruna Alves
Research lead covering environment and sustainability
Climate change in the Nordics - statistics & facts
The Nordic countries have been at the forefront of the fight against climate change since the beginning. From the world’s first carbon taxes to a quick deployment of renewables, greenhouse gas (GHG) emissions in the Nordics have seen a decline of more than 38 percent since peaking in 1996. Now, these countries have some of the most ambitious climate neutrality targets in the world. But are they doing enough to deliver?
Considering the Nordic region as a whole, transportation remains the largest GHG emitting-sector, accounting for roughly one-quarter of total emissions in 2023. The sector’s emissions have seen little change in the past decade. Nevertheless, the Norwegian fuel exploitation sector was the single-largest emitter in the region, with 16 MtCO₂e. Norway is one of the leading oil-producing countries worldwide, with an average output of two million barrels per day in 2023.
Parallel to the deployment of renewables and more recently electric vehicles, the Nordics are also vanguards in carbon pricing. In 1990, Finland was the first country to ever adopt a carbon tax, at less than two 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 fourth-highest carbon tax rate worldwide as of April 2024. Norway and Finland also ranked among the world’s highest taxes. All Nordic countries also participate in the EU Emissions Trading System.
As of 2023, all Nordics countries had set climate neutrality targets, with the target year varying from 2030 for Norway to 2050 for Denmark.
Largest GHG emitters in the Nordics
In 2023, greenhouse gas emissions in the Nordics dipped below 200 million metric tons of CO₂ equivalent (MtCO₂e), the lowest value in at least three decades. Norway was the region’s largest emitter, accounting for a share of 29 percent. Sweden followed in second, with nearly 50 MtCO₂e. Meanwhile, Finland and Iceland were the largest polluters on a per capita emissions basis.Considering the Nordic region as a whole, transportation remains the largest GHG emitting-sector, accounting for roughly one-quarter of total emissions in 2023. The sector’s emissions have seen little change in the past decade. Nevertheless, the Norwegian fuel exploitation sector was the single-largest emitter in the region, with 16 MtCO₂e. Norway is one of the leading oil-producing countries worldwide, with an average output of two million barrels per day in 2023.
Progressive climate change mitigators
Nordic countries have taken the lead in the green energy transition. With an abundance of natural resources, 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 2023. 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 87 percent in 2023. 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 carbon pricing. In 1990, Finland was the first country to ever adopt a carbon tax, at less than two 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 fourth-highest carbon tax rate worldwide as of April 2024. Norway and Finland also ranked among the world’s highest taxes. All Nordic countries also participate in the EU Emissions Trading System.
The road to net-zero emissions
While an early start to renewable energy deployment has seen emissions in the energy sector drop considerably in the past decades, other sectors are still lagging behind. In order to reach climate neutrality, the Nordics’ strategy includes further expanding the deployment of green energy, electrifying the private vehicle fleet, improving public transportation, and decarbonizing the heavy transport sector. In the industry sector, carbon capture storage and utilization technologies are expected to play a significant role, although achieving decarbonization while remaining competitive is set to be one of the region's largest challenges.As of 2023, all Nordics countries had set climate neutrality targets, with the target year varying from 2030 for Norway to 2050 for Denmark.
