AmCham Norway – in partnership with Citi and AmChams Denmark, Finland, and Sweden – were pleased to host our Nordic community for a conversation with Bridget Fawcett, Managing Director and Head of Sustainability & Corporate Transitions Investment Banking at Citi.
Back by popular demand – and from her very unique leadership perspective at such a global organization – Fawcett masterfully informed on sustainability-focused transatlantic capital flows, with emphasis on capital access for Nordic green transition champions, covering:
On transatlantic (Foreign Direct Investments) FDIs, Fawcett explained that US-Nordic investment is likely to continue to escalate due to our long-standing and aligned joint interests, strong geopolitical interdependencies, and technological cooperation. The Inflation Reduction Act (IRA) allocates $479 billion in funding towards the green shift and have already resulted in significant capital flows to climate solutions and green technology exports, with 38% in new clean energy investments.
As a member of the World Economic Forum’s Task Force on Financing the Transition, Fawcett also acknowledged the importance of collective dedication to net zero goals, accenting that capital is indeed mobile. Nordic markets’ competitive advantages, however, are well rooted in political stability and trust.
Fawcett further demonstrated that the transition is technology-driven, with clean tech outpacing fossil fuel investments by 1.7 to 1 in 2023. Along with clean tech investment, AI is beginning to scale with likely amplification impacts across multiple sectors.