As Europe advances with Resilience 2.0, the Nordics are taking a finance-first approach to circularity. The Nordic Circular Investments initiative uncovers what makes circular business models pay off.
In the photo: Nordic Circular Investments partners
Why Circular Investments Matter
Circularity is rapidly moving from a sustainability ambition to a financial imperative in times of resource scarcity. The Nordics are taking a finance‑first approach to circularity, and the Nordic Circular Investments initiative analyses real‑world investment cases to show how circular solutions can reduce risk, strengthen returns, and scale sustainable growth.
Circular business models still face the “valley of death” between promising pilots and scalable growth. Many start‑ups struggle to secure investment because circular models often demand higher upfront costs, longer payback periods, and new evaluation methods that capture service income and material value. By identifying financial and operational success factors, the project bridges this gap and defines what good looks like in circular finance, and shows how to combine stability, sustainability, and growth.
“Circularity is rapidly moving from a sustainability ambition to a financial imperative in times of resource scarcity […] the Nordics need to demonstrate clear, practical leadership, and strengthen the region as a global frontrunner in circular, low‑risk, high‑impact business,”
says Peter Munch-Madsen, Senior Advisor at Nordic Innovation.
Building the Business Case for Circular Success
The Nordic Circular Investments initiative is building a Nordic Best‑Practice Library with around 20 circular investment cases spanning manufacturing, design, industrial clusters, critical raw materials, construction, and consumer sectors. The initiative also maps active investors and financing instruments, connecting capital to opportunity across the Nordic region. The aim is to make circular investments visible, comparable, and scalable, creating a shared reference point for financiers and businesses.
By documenting proven ROI frameworks and investor insights, the project shows how impact, risk reduction, and financial returns come together in successful circular business models. It also maps active investors and financing instruments across the Nordics, connecting capital to opportunity and accelerating the transition to circular and resilient systems.
The project engages directly with decision‑makers behind successful circular investments to uncover what drove confidence, how decisions were made, and what outcomes were achieved. By making the financial logic of circular models visible, the initiative turns circularity from a sustainability narrative into a concrete investment strategy.
Read more (link to website: Nordic Circular Investments | Nordic Innovation)
It is now nomination time
The Nordic Circular Investments initiative is currently highlighting compelling Nordic investment cases in circular economy, resilient systems, and scarce resources. The project invites businesses, investors, and stakeholders to nominate the cases they believe best demonstrate the future of circular value creation.
You can nominate a case by contacting the project partners directly:
- Fredrik Lundli: fredrik@fundforward.se
- Rebekka Kvalsund: rk@circularnorway.no
- Alisa Mick: alisa@mixicenter.com
Which company or investment do you believe is one of the strongest circular cases in the Nordics? This is the moment to put them forward.
Meet Nordic Circular Investments at LOOP
The project partners behind Nordic Circular Investments — Fundforward, Mixi, and Circular Norway — will be present at LOOP Forum. Attendees will have the opportunity to meet the team, explore the investment cases, and discuss how finance, innovation, and circular business models intersect across borders. You can meet them at Nordic Innovation’s stand throughout the event.
