The Nordic Carbon Removal Association, in partnership with Implement Consulting Group, unveils the first region-wide blueprint showing how Denmark, Finland, Iceland, Norway, and Sweden can move “from talk to tonnes” and scale permanent carbon dioxide removal (CDR) fast enough to matter.
The report finds the Nordics could remove 85–160 MtCO2 each year by 2050, covering up to 60 % of Europe’s expected need and creating upwards of €9–17 billion in annual GDP and 148,000 jobs — about 1% of regional GDP — if governments act now to close policy and infrastructure gaps. Yet today, fragmented regulation, underdeveloped CO2 transport links, and weak demand signals keep most projects on the drawing board.
NCRA calls on Nordic leaders to combine their natural endowments — including abundant renewable power, world-class geology, and bio-industrial clusters — into a single, coordinated CDR strategy that can serve as a model for Europe.
NCRA recommendations for Nordic & EU policymakers:
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Set explicit, separate targets for permanent removals alongside emission-reduction goals to give investors clarity.
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Draft a joint Nordic CDR strategy that pools each country’s comparative advantages, sets shared milestones and budgets, and considers empowering a single coordination body to steer cross-border projects.
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Create predictable demand through the inclusion of CDR in the EU ETS or a joint Nordic compliance market, backed by a mix of support mechanisms, such as early-stage reverse-auction subsidies and contracts-for-difference.
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Build a shared CO2 backbone—pipeline corridors, port hubs, and matched capture-to-storage build-out—so each country can efficiently specialise its ecosystem.
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Unlock finance and innovation through key institutions such as the Nordic Investment Bank, the EU Innovation Fund, and targeted R&D grants for emerging methods, including ERW and ocean-based removals.
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Leverage voluntary markets and Article 6 to crowd-in corporate offtake while guarding integrity and transparency.
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Speak with one coordinated Nordic voice to proactively shape EU and international policy items, such as CRCF, EU ETS, marine frameworks, or Article 6, to reflect Nordic realities.
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Earn public trust through transparent risk communication and community engagement around storage and novel methods.