In November 2011, the Nordic Prime Ministers commissioned the Nordic Council of Ministers to launch a new cross sectoral initiative for green growth. The Prime Ministers’ commission was based on the report, The Nordic Region – leading in green growth, prepared by a Nordic working group for green growth. The Nordic countries should together utilise their position in terms of energy efficiency, development of sustainable energy, environmental awareness, innovation and research initiatives, and high international goals in the environmental and climate area. The aim is to work in areas in which the Nordic countries can build on and develop existing positions of strength, improve co-ordination between the Nordic countries, and take the lead in relation to the development in the European Union (EU). The Councils of Ministers are making tangible the working group’s eight recommendations for project activities, which have been granted a total of DKK 45 million in the period 2012–2014. This status report presents the most important advances in each project. More information on the initiative is also available on the home page of the Council of Ministers, www.norden.org/greengrowth.

A Good Life in a Sustainable Nordic Region – Nordic Strategy for Sustainable Development is the overriding and cross-sectoral frame-work for the work of the Nordic Council of Ministers. All work carried out within the Council of Ministers will incorporate a sustainability perspective. The Nordic Council of Ministers will help the Nordic countries successively continue to improve welfare and quality of life for present and future generations, by protecting and using the earth’s ability to sustain life in all its diversity. The strategy provides long-term guidelines as far as 2025 in the following focusareas: the Nordic welfare model, viable ecosystems, changing climate, sustainable use of the earth’s resources, and education, research and innovation. The sectoral ministerial councils within the Nordic Council of Ministers will supplement the strategy with concrete measures.

In 2014 NCM initiated a new project:?Test centers for green energy solutions? Biorefineries and Business needs? to strengthen Nordic bioeconomy by identifying potentials, obstacles, needs and opportunities. The Nordic bioeconomy has a unique profile: Upgrade of many types of residues also to higher value products; good collaboration between private and public sector; R & D efforts in all Nordic countries. However, shortcomings were also identified: few activities across Nordic countries beyond designated Nordic programs; too few upscaling facilities; need for improved framework conditions (within regulatory and market stimulus) for biobased products. This report is part of the Nordic Prime Ministers' green growth initiative:?The Nordic Region? leading in green growth? - read more in the web magazine?Green Growth the Nordic Way? at www.nordicway.org or at www.norden.org/greengrowth.

Job creation and green growth are top political priorities in all Nordic countries. New jobs will be created in existing companies and organizations, but a significant number of new jobs will have to be created in new companies based on new technologies and new business models. At the same time, the Nordic countries have all set ambitious targets for reductions in carbon emissions, and pledged to transform to a low carbon economy. The green transition is a challenging task, but does also represent major business opportunities. New companies are developed by innovative entrepreneurs throughout the Nordics. They need access to relevant, competent risk capital to grow, to create value and new jobs.