Nordic Perspectives on Transboundary Climate Risk: What are these risks and how to address them?

The newly published report “Nordic Perspectives on Transboundary Climate Risk – Current knowledge and pathways for action” by Tyrsky, Stockholm Environment Institute and Western Norway Research Institute examines transboundary climate risks from the Nordic perspective. The report was commissioned by The Nordic Council of Ministers.

Transboundary climate risks result from climate impacts elsewhere. They are transmitted through supply chains, financial systems, shared natural resources, and other international linkages. The results show that Nordic countries are ahead of many others in analysing transboundary climate risks, but for the most part, they have not determined how best to tackle those risks. There is a need for more dialogue between governments, companies and civil society, as well as more information on the risks and their potential impacts on different sectors.

An in-depth analysis of the Nordic countries’ trade relationships and the climate risks embedded in them identified agriculture and food as the sector posing the most critical risks.A sectoral analysis shows that transboundary risks affect inputs to Nordic agricultural systems, food industries and consumption. If not addressed, these risks could result in some food products being costlier or less available.

Based on the analysis, the report highlights 10 priorities for Nordic cooperation on transboundary climate risks, for example establishing a joint Nordic research programme to provide a shared knowledge base, deepening Nordic cooperation in contingency planning around transboundary risks and coordinating Nordic initiatives on transboundary risks in the EU and in various international forums.

Even though the Nordic countries are different in multiple ways, Nordic action on addressing transboundary climate risks can build on their commonalities. The report suggests that the Nordics should focus on areas where cooperation would provide the greatest added value, such as joint research projects and shared risk analysis, as well as awareness-raising and sharing tools to help public- and private-sector actors address transboundary risks.

Read the report here!