The collaboration is expected to significantly cut CO₂ emissions. Credit: Chay_Tee / Shutterstock.

The European Investment Bank (EIB) Group has teamed up with Norwegian DNB Bank on a funding initiative to channel €190m ($199.8m) into green technologies in the Nordic region.

This collaboration will finance up to €190m into green technologies for businesses across Norway, Sweden, Denmark, and Finland.

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The initiative represents the region’s first green synthetic securitisation exclusively targeting climate-friendly investments.

Small and medium-sized enterprises (SMEs) and mid-capitalisation companies (Mid-Caps) in the four Nordic countries are set to benefit from the funds.

The focus will be on leasing zero-emission vehicles and other clean-transport technologies, particularly in the construction sector.

This move is expected to significantly cut CO₂ emissions, aligning with the European Union’s ambition to achieve climate neutrality by 2050.

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Backed by the European Commission’s InvestEU programme, the initiative includes credit protection from the EIB Group, facilitating access to favourable financing terms for climate-related projects.

This arrangement is poised to unlock capital that might otherwise be inaccessible for such green investments.

The operation also supports the wider goals of the EU Capital Markets Union by offering a sustainable financing model that can be replicated across the region. It coincides with Norway’s adoption of the European Securitisation Regulation into its national legislation.

The transaction underscores the importance of collaboration between public and private entities in advancing environmental objectives.

EIB vice-president Thomas Östros said: “Our partnership with DNB will bolster investment and accelerate the green transition in the Nordics.

“This initiative demonstrates how innovative financing can spur both economic growth and climate action.”

The European Investment Fund (EIF), part of the EIB Group, is instrumental in structuring the synthetic securitisation. This move is aimed at mobilising capital for green projects while mitigating financial risk for DNB Bank.

EIF CEO Marjut Falkstedt said: “We are happy to support DNB in its efforts to accelerate the financing of environmentally sustainable projects and driving the green transition.

“This transaction represents our first securitisation in Norway and our first green securitisation in the region, where we note an increased interest in risk sharing transactions.”